MillerKnoll (NASDAQ:MLKN) Issues Q4 2024 Earnings Guidance

MillerKnoll (NASDAQ:MLKN) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.490-0.570 for the period, compared to the consensus estimate of 0.680. The company issued revenue guidance of $880.0 million-$920.0 million, compared to the consensus revenue estimate of $961.4 million. MillerKnoll also updated its FY 2024 guidance to 1.900-1.980 EPS.

MillerKnoll Price Performance

Shares of MLKN stock opened at $24.76 on Friday. The firm has a market cap of $1.80 billion, a P/E ratio of 36.41, a P/E/G ratio of 1.23 and a beta of 1.31. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.56 and a quick ratio of 0.93. MillerKnoll has a 1-year low of $13.20 and a 1-year high of $31.33. The firm has a fifty day moving average of $28.76 and a two-hundred day moving average of $26.09.

MillerKnoll (NASDAQ:MLKN) last issued its quarterly earnings data on Wednesday, March 27th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. MillerKnoll had a net margin of 1.96% and a return on equity of 9.55%. The firm had revenue of $872.30 million for the quarter, compared to the consensus estimate of $909.55 million. During the same period last year, the firm posted $0.54 EPS. MillerKnoll’s quarterly revenue was down 11.4% compared to the same quarter last year. As a group, research analysts anticipate that MillerKnoll will post 2.07 earnings per share for the current fiscal year.

MillerKnoll Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Saturday, March 2nd will be paid a $0.1875 dividend. The ex-dividend date is Thursday, February 29th. This represents a $0.75 annualized dividend and a dividend yield of 3.03%. MillerKnoll’s dividend payout ratio is currently 110.29%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of MillerKnoll from a strong-buy rating to a buy rating in a research note on Thursday.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MLKN. US Bancorp DE purchased a new stake in shares of MillerKnoll in the 1st quarter valued at approximately $36,000. Captrust Financial Advisors purchased a new stake in shares of MillerKnoll in the 1st quarter valued at approximately $41,000. International Assets Investment Management LLC lifted its position in MillerKnoll by 1,117.6% in the 4th quarter. International Assets Investment Management LLC now owns 1,449 shares of the company’s stock worth $39,000 after buying an additional 1,330 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in MillerKnoll in the 1st quarter worth approximately $58,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of MillerKnoll by 428.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,168 shares of the company’s stock worth $44,000 after purchasing an additional 1,758 shares during the last quarter. 87.50% of the stock is owned by hedge funds and other institutional investors.

About MillerKnoll

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.