Wall Street analysts expect HNI Corp (NYSE:HNI) to post sales of $552.15 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for HNI’s earnings. The lowest sales estimate is $551.00 million and the highest is $553.30 million. HNI reported sales of $543.61 million in the same quarter last year, which would suggest a positive year over year growth rate of 1.6%. The company is scheduled to issue its next quarterly earnings report on Monday, July 22nd.
On average, analysts expect that HNI will report full year sales of $2.32 billion for the current year. For the next financial year, analysts anticipate that the business will report sales of $2.40 billion, with estimates ranging from $2.38 billion to $2.41 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for HNI.
HNI (NYSE:HNI) last announced its quarterly earnings results on Monday, April 22nd. The business services provider reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.01. The firm had revenue of $479.50 million during the quarter, compared to the consensus estimate of $485.33 million. HNI had a return on equity of 18.89% and a net margin of 4.12%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.10 earnings per share.
Several equities research analysts have recently weighed in on the company. Sidoti downgraded HNI from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $47.00 to $43.00 in a report on Tuesday, February 26th. TheStreet upgraded HNI from a “c+” rating to a “b” rating in a research note on Friday, February 15th. Seaport Global Securities restated a “neutral” rating on shares of HNI in a research note on Wednesday, February 27th. Finally, Zacks Investment Research cut HNI from a “hold” rating to a “sell” rating in a research note on Saturday, March 2nd. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $43.00.
Shares of HNI stock traded up $0.05 during trading hours on Wednesday, hitting $34.47. The stock had a trading volume of 283,281 shares, compared to its average volume of 198,583. The company has a market capitalization of $1.49 billion, a P/E ratio of 14.30 and a beta of 1.28. HNI has a twelve month low of $32.99 and a twelve month high of $45.40. The company has a current ratio of 1.30, a quick ratio of 0.84 and a debt-to-equity ratio of 0.54.
The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Friday, May 17th will be paid a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Thursday, May 16th. This is a boost from HNI’s previous quarterly dividend of $0.30. HNI’s dividend payout ratio is 50.62%.
In other HNI news, Director Ronald V. Waters sold 5,000 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $42.09, for a total value of $210,450.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.20% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in HNI by 2.2% in the fourth quarter. BlackRock Inc. now owns 4,949,035 shares of the business services provider’s stock worth $175,343,000 after acquiring an additional 105,735 shares in the last quarter. Vanguard Group Inc. raised its position in HNI by 1.7% in the third quarter. Vanguard Group Inc. now owns 4,079,643 shares of the business services provider’s stock worth $180,483,000 after acquiring an additional 66,967 shares in the last quarter. Dimensional Fund Advisors LP raised its position in HNI by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,303,570 shares of the business services provider’s stock worth $47,307,000 after acquiring an additional 11,551 shares in the last quarter. Frontier Capital Management Co. LLC raised its position in HNI by 1.1% in the first quarter. Frontier Capital Management Co. LLC now owns 1,078,418 shares of the business services provider’s stock worth $39,136,000 after acquiring an additional 11,495 shares in the last quarter. Finally, Norges Bank purchased a new position in HNI in the fourth quarter worth $27,445,000. Hedge funds and other institutional investors own 70.88% 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, Singapore, and Taiwan. Its Office Furniture segment offers a range of 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, Lamex, and HNI India brands.
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