Analysts Anticipate Herman Miller, Inc. (MLHR) Will Post Quarterly Sales of $573.30 Million

Equities analysts forecast that Herman Miller, Inc. (NASDAQ:MLHR) will announce sales of $573.30 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Herman Miller’s earnings. The highest sales estimate is $575.30 million and the lowest is $571.30 million. Herman Miller reported sales of $524.90 million during the same quarter last year, which suggests a positive year over year growth rate of 9.2%. The company is expected to announce its next earnings results on Wednesday, March 28th.

According to Zacks, analysts expect that Herman Miller will report full year sales of $573.30 million for the current fiscal year. For the next fiscal year, analysts forecast that the business will report sales of $2.46 billion per share. Zacks’ sales calculations are an average based on a survey of research analysts that cover Herman Miller.

Herman Miller (NASDAQ:MLHR) last released its quarterly earnings results on Wednesday, December 20th. The business services provider reported $0.57 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.57. The company had revenue of $604.60 million during the quarter, compared to analysts’ expectations of $603.77 million. Herman Miller had a net margin of 5.36% and a return on equity of 21.85%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 earnings per share.

Several brokerages recently commented on MLHR. Zacks Investment Research cut shares of Herman Miller from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. ValuEngine upgraded shares of Herman Miller from a “hold” rating to a “buy” rating in a report on Monday, December 11th. BidaskClub upgraded shares of Herman Miller from a “hold” rating to a “buy” rating in a report on Wednesday, December 27th. 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 report on Tuesday, December 26th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $41.67.

In other Herman Miller news, SVP Stephen C. Gane sold 30,988 shares of the company’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $39.77, for a total transaction of $1,232,392.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Kevin J. Veltman sold 1,190 shares of the company’s stock in a transaction on Wednesday, January 3rd. The stock was 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 142,202 shares of company stock worth $5,364,155 over the last ninety days. Insiders own 1.91% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of MLHR. Teachers Advisors LLC raised its position in Herman Miller by 4.7% during the second quarter. Teachers Advisors LLC now owns 107,811 shares of the business services provider’s stock worth $3,277,000 after acquiring an additional 4,888 shares in the last quarter. Ameriprise Financial Inc. raised its position in Herman Miller by 32.8% during the second quarter. Ameriprise Financial Inc. now owns 253,590 shares of the business services provider’s stock worth $7,710,000 after acquiring an additional 62,673 shares in the last quarter. Northern Trust Corp raised its position in Herman Miller by 0.8% during the second quarter. Northern Trust Corp now owns 1,013,671 shares of the business services provider’s stock worth $30,816,000 after acquiring an additional 7,741 shares in the last quarter. California Public Employees Retirement System raised its position in Herman Miller by 8.5% during the second quarter. California Public Employees Retirement System now owns 127,300 shares of the business services provider’s stock worth $3,870,000 after acquiring an additional 10,000 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in Herman Miller by 54.0% during the second quarter. Parametric Portfolio Associates LLC now owns 109,595 shares of the business services provider’s stock worth $3,332,000 after acquiring an additional 38,423 shares in the last quarter. 82.06% of the stock is currently owned by hedge funds and other institutional investors.

Herman Miller (NASDAQ MLHR) opened at $36.35 on Wednesday. The firm has a market cap of $2,192.88, a P/E ratio of 16.93 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 quick ratio of 0.89, a current ratio of 1.33 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. Investors of record on Saturday, March 3rd will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, March 1st. Herman Miller’s payout ratio is 35.64%.

ILLEGAL ACTIVITY WARNING: “Analysts Anticipate Herman Miller, Inc. (MLHR) Will Post Quarterly Sales of $573.30 Million” was posted by American Banking News and is the property of of American Banking News. If you are reading this story on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright legislation. The original version of this story can be viewed at https://www.americanbankingnews.com/2018/02/14/analysts-anticipate-herman-miller-inc-mlhr-will-post-quarterly-sales-of-573-30-million.html.

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.

Get a free copy of the Zacks research report on Herman Miller (MLHR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Herman Miller Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Herman Miller and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply