Herman Miller (NASDAQ:MLHR) released its quarterly earnings data on Wednesday, December 20th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57, Briefing.com reports. Herman Miller had a return on equity of 21.85% and a net margin of 5.36%. The firm had revenue of $604.60 million during the quarter, compared to analyst estimates of $603.77 million. During the same period in the prior year, the company posted $0.54 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Herman Miller updated its Q3 guidance to $0.46-0.50 EPS.
Shares of Herman Miller (NASDAQ:MLHR) traded down $0.35 on Friday, reaching $40.55. The company’s stock had a trading volume of 297,182 shares, compared to its average volume of 474,560. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 1.33. Herman Miller has a 12-month low of $28.55 and a 12-month high of $40.90. The company has a market capitalization of $2,440.51, a PE ratio of 20.07 and a beta of 1.48.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Saturday, December 2nd will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Thursday, November 30th. Herman Miller’s dividend payout ratio (DPR) is currently 35.64%.
Several research firms have issued reports on MLHR. BidaskClub lowered Herman Miller from a “buy” rating to a “hold” rating in a research note on Saturday, January 6th. Zacks Investment Research upgraded Herman Miller from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Friday, December 29th. Raymond James Financial upgraded Herman Miller from a “market perform” rating to an “outperform” rating and set a $43.00 target price for the company in a research note on Tuesday, December 26th. Finally, ValuEngine upgraded Herman Miller from a “hold” rating to a “buy” rating in a report on Monday, December 11th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $41.67.
In other news, Director David O. Ulrich sold 13,382 shares of Herman Miller stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $32.38, for a total transaction of $433,309.16. Following the transaction, the director now owns 21,949 shares in the company, valued at approximately $710,708.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stephen C. Gane sold 30,988 shares of Herman Miller stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $39.77, for a total value of $1,232,392.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,002 shares of company stock worth $2,307,612. Company insiders own 1.91% of the company’s stock.
About Herman Miller
Receive News & Ratings for Herman Miller Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Herman Miller and related companies with MarketBeat.com's FREE daily email newsletter.