Herman Miller (NASDAQ:MLHR) will issue its quarterly earnings data before the market opens on Wednesday, September 18th. Analysts expect the company to announce earnings of $0.79 per share for the quarter. Herman Miller has set its Q1 2020 guidance at $0.77-0.81 EPS and its Q1 guidance at $0.77-$0.81 EPS.
Herman Miller (NASDAQ:MLHR) last issued its quarterly earnings results on Wednesday, June 26th. The business services provider reported $0.88 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.10. Herman Miller had a net margin of 6.25% and a return on equity of 25.20%. The business had revenue of $671.00 million for the quarter, compared to analysts’ expectations of $657.23 million. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. On average, analysts expect Herman Miller to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.
MLHR stock opened at $43.83 on Wednesday. The stock has a 50-day moving average price of $43.21 and a 200-day moving average price of $39.61. Herman Miller has a 1-year low of $28.66 and a 1-year high of $46.29. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.39. The firm has a market cap of $2.59 billion, a PE ratio of 14.76 and a beta of 1.66.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Saturday, August 31st will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.92%. This is an increase from Herman Miller’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Thursday, August 29th. Herman Miller’s payout ratio is currently 28.28%.
In other Herman Miller news, SVP Jeffrey L. Kurburski sold 3,442 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $45.52, for a total value of $156,679.84. Following the completion of the sale, the senior vice president now owns 4,109 shares of the company’s stock, valued at $187,041.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gregory J. Bylsma sold 10,717 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $44.19, for a total value of $473,584.23. Following the sale, the insider now owns 21,181 shares of the company’s stock, valued at approximately $935,988.39. The disclosure for this sale can be found here. Insiders have sold 96,601 shares of company stock worth $4,329,094 in the last quarter. Company insiders own 1.05% of the company’s stock.
Several brokerages recently commented on MLHR. Raymond James upped their target price on Herman Miller from $41.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, June 28th. BidaskClub upgraded Herman Miller from a “sell” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research lowered Herman Miller from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. Finally, ValuEngine cut Herman Miller from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $49.00.
Herman Miller Company Profile
Herman Miller, Inc engages in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, home furnishings, and related services in the United States and internationally. The company provides modular systems under the Canvas Office Landscape, Locale, Public Office Landscape, Layout Studio, Action Office, Ethospace, Arras, and Resolve names; seating products under the Embody, Aeron, Mirra2, Setu, Say, Verus, Celle, Equa, Taper, and Ergon names; and storage products under the Meridian and Tu names.
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