Analysts expect that Herman Miller, Inc. (NASDAQ:MLHR) will announce sales of $647.05 million for the current quarter, Zacks reports. Two analysts have provided estimates for Herman Miller’s earnings, with estimates ranging from $646.30 million to $647.80 million. Herman Miller reported sales of $604.60 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7%. The company is scheduled to report its next earnings report on Wednesday, December 19th.

According to Zacks, analysts expect that Herman Miller will report full-year sales of $2.53 billion for the current fiscal year. For the next year, analysts anticipate that the firm will post sales of $2.64 billion, with estimates ranging from $2.63 billion to $2.65 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Herman Miller.

Herman Miller (NASDAQ:MLHR) last announced its earnings results on Wednesday, September 19th. The business services provider reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. The business had revenue of $624.60 million for the quarter, compared to the consensus estimate of $620.73 million. Herman Miller had a net margin of 5.40% and a return on equity of 22.22%. Herman Miller’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm posted $0.57 earnings per share.

MLHR has been the topic of a number of recent analyst reports. ValuEngine raised shares of Herman Miller from a “hold” rating to a “buy” rating in a research note on Wednesday, July 4th. Zacks Investment Research raised shares of Herman Miller from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research note on Tuesday, September 25th. Finally, BidaskClub downgraded shares of Herman Miller from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th.

In other Herman Miller news, VP Kevin J. Veltman sold 2,211 shares of the stock in a transaction that occurred on Friday, July 27th. The shares were sold at an average price of $37.67, for a total transaction of $83,288.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Andrew J. Lock sold 53,802 shares of the stock in a transaction that occurred on Thursday, July 19th. The shares were sold at an average price of $38.00, for a total transaction of $2,044,476.00. Following the transaction, the insider now owns 22,668 shares in the company, valued at $861,384. The disclosure for this sale can be found here. Insiders sold 239,693 shares of company stock worth $9,126,114 over the last ninety days. 1.05% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Massachusetts Financial Services Co. MA grew its position in Herman Miller by 14.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 537,119 shares of the business services provider’s stock valued at $18,209,000 after acquiring an additional 69,497 shares during the last quarter. MetLife Investment Advisors LLC grew its position in Herman Miller by 3.2% during the second quarter. MetLife Investment Advisors LLC now owns 64,724 shares of the business services provider’s stock valued at $2,194,000 after acquiring an additional 1,989 shares during the last quarter. Wells Fargo & Company MN grew its position in Herman Miller by 63.2% during the second quarter. Wells Fargo & Company MN now owns 471,773 shares of the business services provider’s stock valued at $15,993,000 after acquiring an additional 182,769 shares during the last quarter. Alps Advisors Inc. bought a new position in Herman Miller during the second quarter valued at approximately $629,000. Finally, Dimensional Fund Advisors LP grew its position in Herman Miller by 8.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,830,749 shares of the business services provider’s stock valued at $62,063,000 after acquiring an additional 143,622 shares during the last quarter. Institutional investors and hedge funds own 85.38% of the company’s stock.

Shares of MLHR opened at $34.83 on Friday. The company has a market capitalization of $2.28 billion, a P/E ratio of 15.60 and a beta of 1.37. The company has a current ratio of 1.41, a quick ratio of 1.00 and a debt-to-equity ratio of 0.42. Herman Miller has a 1-year low of $29.95 and a 1-year high of $41.85.

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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Earnings History and Estimates for Herman Miller (NASDAQ:MLHR)

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