Seaport Global Securities Weighs in on HNI Corporation’s Q1 2018 Earnings (HNI)

HNI Corporation (NYSE:HNI) – Analysts at Seaport Global Securities lowered their Q1 2018 earnings per share estimates for HNI in a note issued to investors on Monday. Seaport Global Securities analyst M. Mccall now forecasts that the business services provider will post earnings per share of $0.03 for the quarter, down from their previous forecast of $0.31. Seaport Global Securities currently has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for HNI’s Q4 2018 earnings at $1.02 EPS, FY2018 earnings at $2.60 EPS and FY2019 earnings at $3.25 EPS.

HNI has been the subject of several other reports. Rowe downgraded HNI from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 24th. Raymond James Financial reissued a “market perform” rating on shares of HNI in a research note on Tuesday, October 24th. Finally, Zacks Investment Research downgraded HNI from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $42.00.

Shares of HNI (HNI) opened at $37.26 on Wednesday. HNI has a fifty-two week low of $31.16 and a fifty-two week high of $48.32. The company has a market capitalization of $1,625.48, a price-to-earnings ratio of 18.35 and a beta of 1.44. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 0.47.

HNI (NYSE:HNI) last announced its earnings results on Thursday, February 8th. The business services provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.42 by $0.05. HNI had a return on equity of 17.64% and a net margin of 4.13%. The business had revenue of $584.30 million during the quarter, compared to the consensus estimate of $567.83 million. During the same period in the prior year, the business posted $0.82 earnings per share. HNI’s revenue was up .5% compared to the same quarter last year.

In related news, CEO Stanley A. Askren sold 3,032 shares of the stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $34.62, for a total value of $104,967.84. Following the completion of the sale, the chief executive officer now directly owns 213,020 shares of the company’s stock, valued at approximately $7,374,752.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Stanley A. Askren sold 3,021 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $35.07, for a total value of $105,946.47. The disclosure for this sale can be found here. Over the last three months, insiders sold 29,375 shares of company stock valued at $1,027,081. Company insiders own 5.16% of the company’s stock.

A number of institutional investors have recently made changes to their positions in HNI. Fuller & Thaler Asset Management Inc. lifted its stake in HNI by 271.4% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 2,600 shares of the business services provider’s stock worth $108,000 after acquiring an additional 1,900 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new position in HNI in the 4th quarter worth about $239,000. Stoneridge Investment Partners LLC acquired a new position in HNI in the 4th quarter worth about $366,000. SG Americas Securities LLC increased its position in HNI by 18.6% in the 3rd quarter. SG Americas Securities LLC now owns 16,463 shares of the business services provider’s stock worth $683,000 after purchasing an additional 2,586 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in HNI by 51.8% in the 3rd quarter. New York State Common Retirement Fund now owns 71,200 shares of the business services provider’s stock worth $2,953,000 after purchasing an additional 24,300 shares during the last quarter. 70.88% of the stock is owned by hedge funds and other institutional investors.

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About HNI

HNI Corporation is a provider of office furniture and hearth products. The Company’s office furniture products include panel-based and freestanding furniture systems, seating, storage and tables. The Company’s segments include office furniture and hearth products. The office furniture segment manufactures and markets a line of metal and wood commercial and home office furniture, which includes storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions, and panel systems and other related products.

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