Knoll, Inc. (NYSE:KNL) declared a quarterly dividend on Thursday, August 10th, Wall Street Journal reports. Shareholders of record on Friday, September 15th will be given a dividend of 0.15 per share by the business services provider on Friday, September 29th. This represents a $0.60 dividend on an annualized basis and a yield of 3.27%. The ex-dividend date of this dividend is Thursday, September 14th.
Knoll has increased its dividend by an average of 7.7% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Knoll has a dividend payout ratio of 43.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Knoll to earn $1.62 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 37.0%.
Knoll (NYSE KNL) remained flat at $18.37 on Wednesday. 6,191 shares of the company’s stock were exchanged. Knoll has a 12 month low of $16.57 and a 12 month high of $28.40. The stock has a market capitalization of $890.36 million, a P/E ratio of 12.68 and a beta of 0.99. The stock has a 50-day moving average of $18.36 and a 200-day moving average of $21.24.
Knoll (NYSE:KNL) last announced its quarterly earnings data on Thursday, July 27th. The business services provider reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.08). The firm had revenue of $268.70 million for the quarter, compared to analysts’ expectations of $284.65 million. Knoll had a return on equity of 23.40% and a net margin of 6.43%. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS. On average, analysts forecast that Knoll will post $1.39 earnings per share for the current year.
In other news, Director Benjamin A. Pardo sold 2,200 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $19.45, for a total value of $42,790.00. Following the completion of the transaction, the director now owns 23,773 shares in the company, valued at approximately $462,384.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.90% of the company’s stock.
A number of brokerages have commented on KNL. TheStreet downgraded shares of Knoll from a “b-” rating to a “c+” rating in a research report on Thursday, September 7th. Raymond James Financial, Inc. upgraded shares of Knoll from a “market perform” rating to an “outperform” rating and set a $20.00 price objective for the company in a research report on Monday, August 28th. UBS AG upgraded shares of Knoll from a “market perform” rating to an “outperform” rating in a research report on Monday, August 28th. Sidoti assumed coverage on shares of Knoll in a research report on Wednesday, August 16th. They set a “buy” rating and a $28.00 price objective for the company. Finally, Zacks Investment Research downgraded shares of Knoll from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. Knoll currently has an average rating of “Buy” and an average target price of $24.50.
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Knoll Company Profile
Knoll, Inc is a manufacturer of commercial and residential furniture, accessories and coverings. The Company operates through three segments: Office, Studio and Coverings. The Office segment includes a range of workplace products that address workplace planning paradigms. These products include systems furniture, seating, storage, tables, desks and KnollExtra accessories, as well as the international sales of its North American Office products.
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