HNI Corporation (NYSE:HNI) Shares Set to Pay Quarterly Dividend of $0.35

HNI Corporation (NYSE:HNI) declared a quarterly dividend on Wednesday, November 11th. Stockholders of record on Monday, November 23rd will be paid a dividend of $0.35 per share by the business services provider on Tuesday, December 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, November 23rd.

HNI has a payout ratio of 34.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect HNI to earn $4.71 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 29.7%.

HNI Stock Down 0.5%

NYSE:HNI opened at $49.01 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.88 and a current ratio of 1.33. HNI has a 52-week low of $28.93 and a 52-week high of $52.79. The company has a market cap of $3.54 billion, a price-to-earnings ratio of 111.39, a P/E/G ratio of 0.76 and a beta of 0.94. The stock’s fifty day moving average price is $47.33 and its two-hundred day moving average price is $42.06.

HNI (NYSE:HNI) last announced its quarterly earnings data on Tuesday, November 3rd. The business services provider reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.23. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.60 billion. HNI had a net margin of 1.00% and a return on equity of 15.39%. HNI’s revenue was up 132.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.88 earnings per share. On average, analysts anticipate that HNI will post 4.35 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Benchmark reaffirmed a “buy” rating on shares of HNI in a research report on Wednesday, July 15th. Weiss Ratings upgraded HNI from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, November 4th. Wells Fargo & Company set a $65.00 price target on HNI in a research note on Wednesday, July 15th. Finally, Wall Street Zen raised HNI from a “hold” rating to a “buy” rating in a research note on Saturday, September 12th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, HNI currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

About HNI

HNI Corporation is a workplace furnishings and residential building products company. Its workplace furnishings business designs and manufactures office furniture and related products for businesses, government organizations, educational institutions and other customers. Its portfolio includes brands such as HON, Allsteel and Gunlocke, with products ranging from office seating and desks to workstations and storage. HNI also makes fireplaces, stoves and related hearth products through brands including Heat & Glo, Heatilator, Majestic, Harman and Quadra-Fire.