Herman Miller Inc. (MLHR) Set to Announce Quarterly Earnings on Wednesday
Herman Miller Inc. (NASDAQ:MLHR) is scheduled to be issuing its Q117 quarterly earnings data on Wednesday, September 21st. Analysts expect the company to announce earnings of $0.62 per share and revenue of $614.20 million for the quarter. Herman Miller has set its Q1 guidance at $0.60-0.64 EPS.
Herman Miller (NASDAQ:MLHR) last posted its quarterly earnings results on Wednesday, June 22nd. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.04. Herman Miller had a return on equity of 26.76% and a net margin of 6.04%. The business had revenue of $582.60 million for the quarter, compared to analysts’ expectations of $568.55 million. During the same quarter in the prior year, the business earned $0.47 EPS. The firm’s revenue for the quarter was up 5.8% on a year-over-year basis. On average, analysts expect Herman Miller to post $2.31 EPS for the current fiscal year and $2.51 EPS for the next fiscal year.
Shares of Herman Miller Inc. (NASDAQ:MLHR) opened at 34.92 on Monday. The company has a market cap of $2.09 billion, a PE ratio of 15.45 and a beta of 1.41. Herman Miller Inc. has a 1-year low of $22.60 and a 1-year high of $36.46. The company has a 50-day moving average price of $34.32 and a 200-day moving average price of $31.43.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Investors of record on Saturday, September 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.95%. This is a positive change from Herman Miller’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, August 31st. Herman Miller’s payout ratio is presently 30.09%.
MLHR has been the topic of a number of analyst reports. BB&T Corp. lowered Herman Miller from a “buy” rating to a “hold” rating in a research note on Friday, June 24th. They noted that the move was a valuation call. Zacks Investment Research lowered Herman Miller from a “hold” rating to a “sell” rating in a research note on Tuesday, June 28th.
In other Herman Miller news, SVP Stephen C. Gane sold 5,936 shares of the company’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $32.25, for a total value of $191,436.00. Following the transaction, the senior vice president now directly owns 22,047 shares in the company, valued at approximately $711,015.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael F. Ramirez sold 2,676 shares of the company’s stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $31.00, for a total value of $82,956.00. Following the completion of the transaction, the senior vice president now owns 13,580 shares in the company, valued at $420,980. The disclosure for this sale can be found here. 1.91% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new position in shares of Herman Miller during the second quarter worth $314,000. Profund Advisors LLC raised its position in shares of Herman Miller by 7.9% in the second quarter. Profund Advisors LLC now owns 11,268 shares of the company’s stock worth $337,000 after buying an additional 822 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Herman Miller during the second quarter worth $359,000. Ameritas Investment Partners Inc. raised its position in shares of Herman Miller by 2.9% in the second quarter. Ameritas Investment Partners Inc. now owns 14,067 shares of the company’s stock worth $420,000 after buying an additional 402 shares in the last quarter. Finally, Martingale Asset Management L P raised its position in shares of Herman Miller by 9.1% in the second quarter. Martingale Asset Management L P now owns 15,567 shares of the company’s stock worth $466,000 after buying an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.
Herman Miller Company Profile
Herman Miller, Inc, researches, designs, manufactures, and distributes interior furnishings, for use in various environments including office, healthcare, educational, and residential settings, and provides related services that support organizations and individuals all over the world. It operates in three segments: North American Furniture Solutions, which includes the operations associated with the design, manufacture, and sale of furniture products for work-related settings, including office, education, and healthcare environments, throughout the United States and Canada; ELA Furniture Solutions, which includes EMEA, Latin America, and Asia-Pacific.
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