Herman Miller (NASDAQ:MLHR) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.56-0.60 for the period, compared to the Thomson Reuters consensus estimate of $0.73. The company issued revenue guidance of $590-610 million, compared to the consensus revenue estimate of $612.80 million.
MLHR stock traded down $0.17 on Wednesday, hitting $37.33. The stock had a trading volume of 452,070 shares, compared to its average volume of 344,891. Herman Miller has a 1 year low of $28.85 and a 1 year high of $41.85. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.33 and a quick ratio of 0.89. The stock has a market cap of $2,249.57, a PE ratio of 18.56 and a beta of 1.41.
Herman Miller (NASDAQ:MLHR) last posted its quarterly earnings data on Thursday, March 22nd. The business services provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. Herman Miller had a return on equity of 21.85% and a net margin of 5.36%. The firm had revenue of $578.40 million during the quarter, compared to analysts’ expectations of $573.30 million. During the same period in the prior year, the business earned $0.39 EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. research analysts expect that Herman Miller will post 2.35 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Saturday, March 3rd will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date is Thursday, March 1st. Herman Miller’s payout ratio is currently 35.64%.
MLHR has been the subject of a number of research reports. Zacks Investment Research cut Herman Miller from a buy rating to a hold rating in a report on Saturday, February 3rd. ValuEngine upgraded Herman Miller from a hold rating to a buy rating in a report on Monday, December 11th. BidaskClub upgraded Herman Miller from a hold rating to a buy rating in a report on Wednesday, December 27th. Finally, Raymond James Financial upgraded Herman Miller from a market perform rating to an outperform rating and set a $43.00 price objective for the company in a report on Tuesday, December 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. Herman Miller currently has an average rating of Hold and a consensus target price of $41.67.
In related news, SVP Stephen C. Gane sold 30,988 shares of the stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $39.77, for a total transaction of $1,232,392.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Kevin J. Veltman sold 1,190 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $40.28, for a total value of $47,933.20. The disclosure for this sale can be found here. Insiders sold a total of 267,202 shares of company stock valued at $10,111,655 over the last quarter. Company insiders own 1.91% of the company’s stock.
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Herman Miller Company Profile
Herman Miller, Inc is engaged in the research, design, manufacture, sale and distribution of office furniture systems, seating products, home furnishings and related services, among others. The Company’s segments include North American Furniture Solutions, which includes the design, manufacture and sale of furniture products for work-related settings, including office, education and healthcare environments, across the United States and Canada; EMEA, Latin America, and Asia Pacific (ELA) Furniture Solutions, which includes the operations associated with the design, manufacture, and sale of furniture products, primarily for work-related settings, in the Europe, Middle East and Africa (EMEA), Latin America and Asia-Pacific geographic regions, among others; Specialty segment, which includes the design, manufacture and sale of furniture products and textiles, and Consumer segment, which includes the sale of modern design furnishings and accessories to third-party retail distributors.
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