Zacks: Brokerages Anticipate HNI Corp (HNI) to Post $0.86 Earnings Per Share

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Analysts expect that HNI Corp (NYSE:HNI) will report earnings per share (EPS) of $0.86 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for HNI’s earnings. The lowest EPS estimate is $0.85 and the highest is $0.86. HNI posted earnings of $0.82 per share in the same quarter last year, which would suggest a positive year over year growth rate of 4.9%. The firm is expected to issue its next quarterly earnings results on Monday, October 22nd.

According to Zacks, analysts expect that HNI will report full-year earnings of $2.43 per share for the current fiscal year, with EPS estimates ranging from $2.41 to $2.45. For the next financial year, analysts expect that the company will post earnings of $3.02 per share, with EPS estimates ranging from $2.93 to $3.10. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow HNI.

HNI (NYSE:HNI) last announced its earnings results on Monday, July 23rd. The business services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.10. HNI had a return on equity of 15.89% and a net margin of 4.13%. The firm had revenue of $543.60 million for the quarter, compared to the consensus estimate of $525.00 million. During the same quarter in the previous year, the business earned $0.42 EPS. The company’s revenue was up 5.7% compared to the same quarter last year.

HNI has been the topic of several research analyst reports. TheStreet upgraded HNI from a “c+” rating to a “b-” rating in a research note on Tuesday, July 24th. ValuEngine upgraded HNI from a “hold” rating to a “buy” rating in a research note on Wednesday, July 25th. Finally, Zacks Investment Research downgraded HNI from a “hold” rating to a “sell” rating in a research note on Thursday, July 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold”.

Shares of NYSE HNI traded down $0.05 during midday trading on Friday, reaching $42.79. The company’s stock had a trading volume of 96,621 shares, compared to its average volume of 175,972. HNI has a 12-month low of $31.16 and a 12-month high of $45.40. The company has a market capitalization of $1.86 billion, a PE ratio of 21.85 and a beta of 1.41. The company has a quick ratio of 0.78, a current ratio of 1.23 and a debt-to-equity ratio of 0.56.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Investors of record on Friday, August 17th were paid a $0.295 dividend. The ex-dividend date was Thursday, August 16th. This represents a $1.18 annualized dividend and a yield of 2.76%. HNI’s payout ratio is 59.90%.

In related news, insider Vincent P. Berger sold 8,739 shares of the company’s stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $38.51, for a total value of $336,538.89. Following the transaction, the insider now owns 15,652 shares in the company, valued at $602,758.52. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stanley A. Askren sold 23,856 shares of the company’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $37.11, for a total value of $885,296.16. Following the completion of the transaction, the director now owns 255,980 shares in the company, valued at approximately $9,499,417.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,047 shares of company stock worth $3,048,654. 5.16% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can bought a new stake in HNI during the 2nd quarter valued at $157,000. Susquehanna Fundamental Investments LLC bought a new stake in HNI during the 1st quarter valued at $212,000. Koch Industries Inc. bought a new stake in HNI during the 1st quarter valued at $225,000. Creative Planning bought a new stake in HNI during the 2nd quarter valued at $227,000. Finally, A.R.T. Advisors LLC bought a new stake in HNI during the 1st quarter valued at $248,000. Institutional investors and hedge funds own 71.89% of the company’s stock.

About HNI

HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, and Taiwan. The company's Office Furniture segment offers a range of metal and wood 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, basyx by HON, Lamex, and HNI India brands.

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