MillerKnoll (MLKN) to Release Earnings on Tuesday

MillerKnoll (NASDAQ:MLKN) is set to release its earnings data after the market closes on Tuesday, September 26th. Analysts expect MillerKnoll to post earnings of $0.21 per share for the quarter. MillerKnoll has set its Q1 guidance at $0.18-0.24 EPS and its FY24 guidance at $1.70-2.00 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

MillerKnoll (NASDAQ:MLKN) last released its quarterly earnings results on Wednesday, July 12th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. MillerKnoll had a return on equity of 9.87% and a net margin of 1.03%. The business had revenue of $956.70 million during the quarter, compared to analysts’ expectations of $945.60 million. During the same period in the previous year, the business posted $0.58 earnings per share. The firm’s revenue for the quarter was down 13.1% compared to the same quarter last year. On average, analysts expect MillerKnoll to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

MillerKnoll Stock Performance

MillerKnoll stock opened at $18.14 on Tuesday. The stock has a 50-day simple moving average of $18.63 and a 200 day simple moving average of $17.67. The company has a quick ratio of 0.98, a current ratio of 1.67 and a debt-to-equity ratio of 0.95. MillerKnoll has a 12-month low of $13.20 and a 12-month high of $25.27. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of 32.39, a P/E/G ratio of 0.86 and a beta of 1.44.

MillerKnoll Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Saturday, September 2nd will be given a $0.1875 dividend. The ex-dividend date is Thursday, August 31st. This represents a $0.75 dividend on an annualized basis and a yield of 4.13%. MillerKnoll’s payout ratio is 133.93%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on MillerKnoll in a research report on Thursday, September 14th. They issued a “hold” rating for the company.

Insider Buying and Selling

In related news, Director Michael A. Volkema bought 13,584 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The stock was bought at an average cost of $16.95 per share, for a total transaction of $230,248.80. Following the transaction, the director now owns 200,670 shares of the company’s stock, valued at $3,401,356.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.69% of the company’s stock.

Hedge Funds Weigh In On MillerKnoll

Several institutional investors have recently modified their holdings of the business. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of MillerKnoll by 44.8% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 24,852 shares of the company’s stock valued at $368,000 after purchasing an additional 7,692 shares in the last quarter. Wells Fargo & Company MN lifted its stake in MillerKnoll by 65.6% in the 2nd quarter. Wells Fargo & Company MN now owns 36,617 shares of the company’s stock valued at $541,000 after acquiring an additional 14,509 shares in the last quarter. Blueshift Asset Management LLC bought a new stake in MillerKnoll in the 2nd quarter valued at approximately $176,000. XTX Topco Ltd bought a new stake in MillerKnoll in the 2nd quarter valued at approximately $185,000. Finally, Goldman Sachs Group Inc. lifted its stake in MillerKnoll by 118.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 320,760 shares of the company’s stock valued at $4,741,000 after acquiring an additional 173,707 shares in the last quarter. Institutional investors own 88.66% of the company’s stock.

MillerKnoll Company Profile

MillerKnoll, Inc researches, designs, manufactures, and distributes interior furnishings worldwide. It operates through three segments: Americas Contract, International Contract & Specialty, and Global Retail. The company also provides seating products, furniture systems, other freestanding furniture elements, textiles, leather, felt, home furnishings and related services, casegoods, storage products, as well as residential, education, and healthcare furniture solutions.