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