Herman Miller (NASDAQ:MLHR) issued its quarterly earnings results on Tuesday. The business services provider reported $0.11 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.21, MarketWatch Earnings reports. Herman Miller had a net margin of 7.86% and a return on equity of 25.22%. The business had revenue of $475.70 million for the quarter, compared to the consensus estimate of $446.47 million. During the same quarter in the prior year, the company earned $0.88 EPS. The firm’s quarterly revenue was down 29.1% on a year-over-year basis.
Shares of NASDAQ MLHR opened at $26.31 on Wednesday. Herman Miller has a 1 year low of $14.39 and a 1 year high of $49.87. The firm’s 50-day moving average is $24.02 and its 200-day moving average is $30.49. The company has a current ratio of 1.26, a quick ratio of 0.86 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $1.46 billion, a PE ratio of 7.41 and a beta of 1.57.
In other Herman Miller news, Director Michael A. Volkema acquired 25,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The shares were acquired at an average cost of $21.94 per share, for a total transaction of $548,500.00. Following the completion of the acquisition, the director now directly owns 100,000 shares of the company’s stock, valued at approximately $2,194,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.05% of the company’s stock.
A number of equities analysts have weighed in on the stock. Sidoti raised shares of Herman Miller from a “neutral” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Tuesday. Benchmark began coverage on shares of Herman Miller in a research report on Friday, May 22nd. They issued a “buy” rating for the company. Finally, BidaskClub upgraded Herman Miller from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $42.00.
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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