Equities analysts predict that HNI Corp (NYSE:HNI) will report $620.70 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for HNI’s earnings. The highest sales estimate is $623.00 million and the lowest is $618.40 million. HNI reported sales of $599.46 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.5%. The business is expected to announce its next quarterly earnings results after the market closes on Monday, October 22nd.
On average, analysts expect that HNI will report full year sales of $2.28 billion for the current year, with estimates ranging from $2.27 billion to $2.28 billion. For the next fiscal year, analysts forecast that the business will report sales of $2.37 billion, with estimates ranging from $2.36 billion to $2.38 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow HNI.
HNI (NYSE:HNI) last posted its quarterly earnings data on Monday, July 23rd. The business services provider reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.10. HNI had a net margin of 4.13% and a return on equity of 15.89%. The company had revenue of $543.60 million for the quarter, compared to the consensus estimate of $525.00 million. During the same period last year, the company earned $0.42 earnings per share. The firm’s revenue was up 5.7% compared to the same quarter last year.
HNI has been the topic of a number of recent research reports. TheStreet upgraded shares of HNI from a “c+” rating to a “b-” rating in a report on Tuesday, July 24th. ValuEngine upgraded shares of HNI from a “hold” rating to a “buy” rating in a report on Wednesday, July 25th. Finally, Zacks Investment Research downgraded shares of HNI from a “hold” rating to a “sell” rating in a report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. HNI presently has an average rating of “Hold”.
NYSE HNI opened at $41.53 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.78 and a current ratio of 1.23. HNI has a 12-month low of $31.16 and a 12-month high of $45.40. The company has a market capitalization of $1.93 billion, a PE ratio of 21.08 and a beta of 1.39.
In other news, Director Stanley A. Askren sold 25,212 shares of HNI stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $42.70, for a total value of $1,076,552.40. Following the sale, the director now directly owns 257,336 shares in the company, valued at $10,988,247.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stanley A. Askren sold 15,000 shares of HNI stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $44.03, for a total transaction of $660,450.00. Following the completion of the sale, the director now owns 247,124 shares in the company, valued at $10,880,869.72. The disclosure for this sale can be found here. Insiders sold 66,424 shares of company stock worth $2,852,585 over the last quarter. 4.90% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of HNI. BlackRock Inc. increased its holdings in HNI by 6.2% during the second quarter. BlackRock Inc. now owns 4,774,388 shares of the business services provider’s stock worth $177,607,000 after buying an additional 280,032 shares during the last quarter. WINTON GROUP Ltd acquired a new position in HNI during the second quarter worth $6,758,000. Wells Fargo & Company MN increased its holdings in HNI by 27.6% during the second quarter. Wells Fargo & Company MN now owns 610,413 shares of the business services provider’s stock worth $22,707,000 after buying an additional 131,929 shares during the last quarter. Principal Financial Group Inc. increased its holdings in HNI by 9.2% during the first quarter. Principal Financial Group Inc. now owns 1,558,623 shares of the business services provider’s stock worth $56,252,000 after buying an additional 131,086 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in HNI by 62.9% during the second quarter. Russell Investments Group Ltd. now owns 337,455 shares of the business services provider’s stock worth $12,553,000 after buying an additional 130,259 shares during the last quarter. Institutional investors and hedge funds own 71.88% of the company’s stock.
HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, and Taiwan. The company's Office Furniture segment offers a range of metal and wood commercial and home office furniture, which include storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions and panel systems, and other related products under the HON, Allsteel, Maxon, Gunlocke, HBF, OFM, basyx by HON, Lamex, and HNI India brands.
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