HNI (HNI) Issues Earnings Results
HNI (NYSE:HNI) released its earnings results on Monday. The business services provider reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01, MarketWatch Earnings reports. The firm had revenue of $479.50 million for the quarter, compared to the consensus estimate of $485.33 million. HNI had a net margin of 4.14% and a return on equity of 19.79%. The company’s revenue was down 5.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.10 EPS. HNI updated its FY 2019 guidance to $2.50-2.90 EPS and its FY19 guidance to $2.50-2.90 EPS.
NYSE:HNI opened at $38.38 on Monday. The stock has a market capitalization of $1.67 billion, a PE ratio of 15.93 and a beta of 1.30. The company has a current ratio of 1.22, a quick ratio of 0.86 and a debt-to-equity ratio of 0.44. HNI has a 1-year low of $32.55 and a 1-year high of $45.40.
A number of analysts have recently weighed in on HNI shares. Seaport Global Securities reaffirmed a “neutral” rating on shares of HNI in a research report on Wednesday, February 27th. Zacks Investment Research downgraded shares of HNI from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. TheStreet downgraded shares of HNI from a “b” rating to a “c+” rating in a research report on Thursday, January 3rd. Finally, Sidoti downgraded shares of HNI from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $47.00 to $43.00 in a research report on Tuesday, February 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. HNI has a consensus rating of “Hold” and a consensus target price of $43.00.
HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, Singapore, and Taiwan. Its Office Furniture segment offers a range of 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, Lamex, and HNI India brands.
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