Zacks: Brokerages Anticipate Herman Miller, Inc. (MLHR) to Announce $0.49 Earnings Per Share

Equities analysts expect that Herman Miller, Inc. (NASDAQ:MLHR) will announce earnings of $0.49 per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Herman Miller’s earnings. The lowest EPS estimate is $0.48 and the highest is $0.50. Herman Miller reported earnings per share of $0.39 in the same quarter last year, which indicates a positive year-over-year growth rate of 25.6%. The business is scheduled to announce its next earnings report on Wednesday, March 28th.

According to Zacks, analysts expect that Herman Miller will report full year earnings of $2.35 per share for the current year, with EPS estimates ranging from $2.30 to $2.39. For the next fiscal year, analysts anticipate that the business will post earnings of $2.71 per share, with EPS estimates ranging from $2.55 to $2.86. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Herman Miller.

Herman Miller (NASDAQ:MLHR) last posted its quarterly earnings data on Wednesday, December 20th. The business services provider reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57. Herman Miller had a net margin of 5.36% and a return on equity of 21.85%. The firm had revenue of $604.60 million during the quarter, compared to analysts’ expectations of $603.77 million. During the same quarter in the previous year, the company posted $0.54 EPS. Herman Miller’s revenue was up 4.7% on a year-over-year basis.

MLHR has been the subject of several recent research reports. ValuEngine cut shares of Herman Miller from a “buy” rating to a “hold” rating in a research report on Thursday, November 9th. Zacks Investment Research cut shares of Herman Miller from a “hold” rating to a “sell” rating in a research report on Wednesday, November 22nd. BidaskClub cut shares of Herman Miller from a “hold” rating to a “sell” rating in a research report on Thursday, December 7th. Finally, Raymond James Financial upgraded shares of Herman Miller from a “market perform” rating to an “outperform” rating and set a $43.00 target price for the company in a research report on Tuesday, December 26th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $41.67.

In related news, EVP Jeremy J. Hocking sold 2,442 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $40.40, for a total value of $98,656.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Kevin J. Veltman sold 1,190 shares of the company’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $40.28, for a total transaction of $47,933.20. The disclosure for this sale can be found here. Insiders have sold a total of 52,198 shares of company stock valued at $2,099,710 in the last quarter. Corporate insiders own 1.91% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its position in shares of Herman Miller by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 131,872 shares of the business services provider’s stock valued at $4,009,000 after buying an additional 1,008 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Herman Miller by 6.5% in the 4th quarter. Victory Capital Management Inc. now owns 23,985 shares of the business services provider’s stock valued at $961,000 after buying an additional 1,455 shares in the last quarter. ING Groep NV increased its position in shares of Herman Miller by 23.2% in the 4th quarter. ING Groep NV now owns 9,020 shares of the business services provider’s stock valued at $361,000 after buying an additional 1,696 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Herman Miller by 3.8% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 56,379 shares of the business services provider’s stock valued at $2,024,000 after buying an additional 2,082 shares in the last quarter. Finally, LS Investment Advisors LLC increased its position in shares of Herman Miller by 44.7% in the 4th quarter. LS Investment Advisors LLC now owns 6,891 shares of the business services provider’s stock valued at $276,000 after buying an additional 2,130 shares in the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

Shares of Herman Miller (MLHR) opened at $36.45 on Monday. The company has a market cap of $2,174.98, a price-to-earnings ratio of 18.04 and a beta of 1.34. Herman Miller has a 1 year low of $28.55 and a 1 year high of $41.85. The company has a current ratio of 1.33, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 15th. Shareholders of record on Saturday, March 3rd will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Thursday, March 1st. Herman Miller’s payout ratio is 35.64%.

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About Herman Miller

Herman Miller, Inc is engaged in the research, design, manufacture, sale and distribution of office furniture systems, seating products, home furnishings and related services, among others. The Company’s segments include North American Furniture Solutions, which includes the design, manufacture and sale of furniture products for work-related settings, including office, education and healthcare environments, across the United States and Canada; EMEA, Latin America, and Asia Pacific (ELA) Furniture Solutions, which includes the operations associated with the design, manufacture, and sale of furniture products, primarily for work-related settings, in the Europe, Middle East and Africa (EMEA), Latin America and Asia-Pacific geographic regions, among others; Specialty segment, which includes the design, manufacture and sale of furniture products and textiles, and Consumer segment, which includes the sale of modern design furnishings and accessories to third-party retail distributors.

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