MillerKnoll (NASDAQ:MLKN) Issues Q4 Earnings Guidance

MillerKnoll (NASDAQ:MLKN) updated its fourth quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.49-0.57 for the period, compared to the consensus EPS estimate of $0.68. The company issued revenue guidance of $880-920 million, compared to the consensus revenue estimate of $961.48 million.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of MillerKnoll from a buy rating to a strong-buy rating in a research report on Tuesday, March 19th.

MillerKnoll Price Performance

NASDAQ:MLKN traded up $0.55 on Wednesday, hitting $30.53. The company had a trading volume of 1,083,205 shares, compared to its average volume of 819,710. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 44.90, a PEG ratio of 1.20 and a beta of 1.31. The company has a current ratio of 1.56, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90. The firm has a 50 day moving average of $28.65 and a two-hundred day moving average of $26.07. MillerKnoll has a 52 week low of $13.20 and a 52 week high of $31.33.

MillerKnoll Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Saturday, March 2nd will be paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 2.46%. The ex-dividend date is Thursday, February 29th. MillerKnoll’s payout ratio is 110.30%.

Institutional Investors Weigh In On MillerKnoll

Several large investors have recently modified their holdings of MLKN. Raymond James & Associates acquired a new stake in MillerKnoll in the first quarter worth $3,686,000. American Century Companies Inc. acquired a new position in shares of MillerKnoll during the first quarter valued at about $1,005,000. US Bancorp DE acquired a new position in shares of MillerKnoll during the first quarter valued at about $36,000. HighTower Advisors LLC bought a new position in shares of MillerKnoll during the first quarter valued at about $570,000. Finally, Citigroup Inc. bought a new position in shares of MillerKnoll during the first quarter valued at about $315,000. 87.50% of the stock is currently owned by institutional investors and hedge funds.

About MillerKnoll

MillerKnoll, Inc researches, designs, manufactures, and distributes interior furnishings worldwide. It operates through three segments: Americas Contract, International Contract & Specialty, and Global Retail. The company also provides seating products, furniture systems, other freestanding furniture elements, textiles, leather, felt, home furnishings and related services, casegoods, storage products, as well as residential, education, and healthcare furniture solutions.