HNI (NYSE:HNI) Announces Earnings Results

HNI (NYSE:HNI) announced its quarterly earnings data on Monday. The business services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.18 by $0.19, Briefing.com reports. HNI had a return on equity of 16.97% and a net margin of 2.03%. The business had revenue of $588.00 million for the quarter, compared to the consensus estimate of $574.56 million. During the same period in the previous year, the business earned $0.13 earnings per share. The business’s revenue was up 22.7% on a year-over-year basis.

HNI Price Performance

Shares of HNI stock traded down $0.34 on Tuesday, reaching $42.65. The company’s stock had a trading volume of 20,327 shares, compared to its average volume of 252,809. HNI has a 1 year low of $24.81 and a 1 year high of $45.47. The company has a market capitalization of $2.02 billion, a price-to-earnings ratio of 42.16, a price-to-earnings-growth ratio of 1.21 and a beta of 0.86. The stock’s fifty day simple moving average is $43.30 and its 200-day simple moving average is $40.98. The company has a current ratio of 1.16, a quick ratio of 0.73 and a debt-to-equity ratio of 0.57.

HNI Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Monday, February 26th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend was Friday, February 23rd. HNI’s payout ratio is presently 125.49%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded HNI from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 8th.

Insider Transactions at HNI

In other HNI news, Director Larry B. Porcellato sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $44.00, for a total transaction of $88,000.00. Following the sale, the director now directly owns 40,718 shares of the company’s stock, valued at $1,791,592. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Vincent P. Berger sold 9,976 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $43.01, for a total value of $429,067.76. Following the sale, the executive vice president now directly owns 67,025 shares of the company’s stock, valued at approximately $2,882,745.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Larry B. Porcellato sold 2,000 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $44.00, for a total value of $88,000.00. Following the completion of the sale, the director now owns 40,718 shares in the company, valued at $1,791,592. The disclosure for this sale can be found here. Insiders have sold a total of 17,374 shares of company stock worth $749,534 in the last three months. Insiders own 3.36% of the company’s stock.

About HNI

HNI Corporation, together with its subsidiaries, engages in the manufacture, sale, and marketing of workplace furnishings and residential building products primarily in the United States and Canada. The company operates through two segments, Workplace Furnishings and Residential Building Products. The Workplace Furnishings segment offers a range of commercial and home office furniture, including panel-based and freestanding furniture systems, seating, storage, benching, tables, architectural products, and ancillary and hospitality products, as well as social collaborative items under the HON, Allsteel, Beyond, Gunlocke, HBF, HBF Textiles, HNI India, Kimball, National, Etc., Interwoven, David Edward, Kimball Hospitality, and D'style brands.