Equities research analysts forecast that Herman Miller, Inc. (NASDAQ:MLHR) will announce sales of $621.80 million for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Herman Miller’s earnings. The lowest sales estimate is $619.60 million and the highest is $624.00 million. Herman Miller posted sales of $580.30 million during the same quarter last year, which suggests a positive year over year growth rate of 7.2%. The firm is expected to announce its next quarterly earnings results on Wednesday, September 19th.
On average, analysts expect that Herman Miller will report full-year sales of $2.52 billion for the current financial year, with estimates ranging from $2.52 billion to $2.53 billion. For the next financial year, analysts expect that the business will post sales of $2.62 billion per share, with estimates ranging from $2.62 billion to $2.63 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Herman Miller.
Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings data on Monday, July 2nd. The business services provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.08. Herman Miller had a return on equity of 21.71% and a net margin of 5.38%. The business had revenue of $618.00 million during the quarter, compared to analysts’ expectations of $601.10 million. During the same period in the previous year, the firm earned $0.64 earnings per share. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year.
A number of research firms have issued reports on MLHR. ValuEngine cut Herman Miller from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. BidaskClub cut Herman Miller from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th.
Herman Miller traded up $0.10, reaching $37.95, on Friday, Marketbeat reports. The company’s stock had a trading volume of 154,487 shares, compared to its average volume of 379,124. Herman Miller has a 1-year low of $29.95 and a 1-year high of $41.85. The company has a current ratio of 1.56, a quick ratio of 1.17 and a debt-to-equity ratio of 0.41. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 16.50 and a beta of 1.46.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Saturday, September 1st will be paid a $0.198 dividend. This represents a $0.79 dividend on an annualized basis and a yield of 2.09%. This is a boost from Herman Miller’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Thursday, August 30th. Herman Miller’s payout ratio is presently 31.30%.
In other Herman Miller news, VP Kevin J. Veltman sold 2,211 shares of the business’s stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $37.67, for a total value of $83,288.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian C. Walker sold 30,362 shares of the business’s stock in a transaction dated Friday, July 13th. The shares were sold at an average price of $38.77, for a total value of $1,177,134.74. Following the completion of the transaction, the chief executive officer now directly owns 34,406 shares of the company’s stock, valued at $1,333,920.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 268,807 shares of company stock valued at $10,258,904. Insiders own 1.91% of the company’s stock.
Large investors have recently bought and sold shares of the business. Quantbot Technologies LP bought a new stake in shares of Herman Miller in the first quarter valued at about $121,000. First Quadrant L P CA lifted its holdings in shares of Herman Miller by 1,965.7% in the second quarter. First Quadrant L P CA now owns 3,677 shares of the business services provider’s stock valued at $125,000 after purchasing an additional 3,499 shares in the last quarter. BerganKDV Wealth Management LLC bought a new stake in shares of Herman Miller in the second quarter valued at about $181,000. First Citizens Bank & Trust Co. bought a new stake in shares of Herman Miller in the second quarter valued at about $217,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of Herman Miller in the second quarter valued at about $264,000. 81.47% of the stock is owned by hedge funds and other institutional investors.
Herman Miller Company Profile
Herman Miller, Inc engages in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, home furnishings, and related services in the United States and internationally. The company provides modular systems under the Canvas Office Landscape, Locale, Public Office Landscape, Layout Studio, Action Office, Ethospace, Arras, and Resolve names; seating products under the Embody, Aeron, Mirra2, Setu, Say, Verus, Celle, Equa, Taper, and Ergon names; and storage products under the Meridian and Tu names.
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