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.
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%.
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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