Analysts Anticipate HNI Corp (HNI) Will Announce Earnings of $0.86 Per Share
Equities analysts expect HNI Corp (NYSE:HNI) to post earnings per share of $0.86 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for HNI’s earnings. The highest EPS estimate is $0.86 and the lowest is $0.85. HNI reported earnings per share of $0.82 in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.9%. The company is expected to announce its next earnings results on Monday, October 22nd.
On average, analysts expect that HNI will report full-year earnings of $2.43 per share for the current year, with EPS estimates ranging from $2.41 to $2.45. For the next year, analysts forecast that the company will report earnings of $3.02 per share, with EPS estimates ranging from $2.93 to $3.10. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that follow HNI.
HNI (NYSE:HNI) last posted its quarterly earnings data 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 company had revenue of $543.60 million during the quarter, compared to analysts’ expectations of $525.00 million. During the same period last year, the firm earned $0.42 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis.
In other news, Director Stanley A. Askren sold 25,212 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $42.70, for a total value of $1,076,552.40. Following the completion of the sale, the director now directly owns 257,336 shares of the company’s stock, valued at approximately $10,988,247.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Miguel M. Calado sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 24th. The shares were sold at an average price of $42.56, for a total value of $42,560.00. The disclosure for this sale can be found here. Insiders have sold a total of 65,068 shares of company stock valued at $2,664,859 over the last ninety days. 4.90% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Bank of Montreal Can acquired a new stake in shares of HNI in the 2nd quarter valued at approximately $157,000. Principal Financial Group Inc. lifted its holdings in shares of HNI by 9.2% in the 1st quarter. Principal Financial Group Inc. now owns 1,558,623 shares of the business services provider’s stock valued at $56,252,000 after buying an additional 131,086 shares during the period. First Trust Advisors LP lifted its holdings in shares of HNI by 21.2% in the 2nd quarter. First Trust Advisors LP now owns 42,766 shares of the business services provider’s stock valued at $1,591,000 after buying an additional 7,489 shares during the period. Legal & General Group Plc lifted its holdings in shares of HNI by 28.7% in the 1st quarter. Legal & General Group Plc now owns 59,987 shares of the business services provider’s stock valued at $2,165,000 after buying an additional 13,387 shares during the period. Finally, BlackRock Inc. increased its stake in HNI by 1.1% in the 1st quarter. BlackRock Inc. now owns 4,494,356 shares of the business services provider’s stock valued at $162,201,000 after purchasing an additional 49,092 shares in the last quarter. 71.88% of the stock is owned by institutional investors and hedge funds.
HNI stock traded down $0.26 during mid-day trading on Wednesday, reaching $43.92. 3,739 shares of the company were exchanged, compared to its average volume of 148,108. HNI has a twelve month low of $31.16 and a twelve month high of $45.40. The company has a current ratio of 1.23, a quick ratio of 0.78 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 22.09 and a beta of 1.41.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Friday, August 17th were given a dividend of $0.295 per share. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $1.18 dividend on an annualized basis and a yield of 2.69%. HNI’s payout ratio is 59.90%.
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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