Equities research analysts forecast that HNI Corporation (NYSE:HNI) will report $565.00 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for HNI’s earnings, with estimates ranging from $559.30 million to $570.70 million. HNI reported sales of $581.29 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 2.8%. The business is expected to announce its next earnings results on Wednesday, February 14th.
On average, analysts expect that HNI will report full-year sales of $565.00 million for the current fiscal year, with estimates ranging from $2.15 billion to $2.16 billion. For the next year, analysts anticipate that the business will report sales of $2.23 billion per share, with estimates ranging from $2.23 billion to $2.24 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover HNI.
HNI (NYSE:HNI) last posted its quarterly earnings results on Monday, October 23rd. The business services provider reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.02. HNI had a net margin of 3.08% and a return on equity of 21.09%. The company had revenue of $599.50 million for the quarter, compared to the consensus estimate of $585.07 million. During the same period last year, the company posted $0.80 EPS. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year.
A number of equities research analysts have recently weighed in on HNI shares. Zacks Investment Research upgraded shares of HNI from a “sell” rating to a “hold” rating in a research note on Monday, September 11th. Raymond James Financial restated a “market perform” rating on shares of HNI in a research note on Tuesday, October 24th. Rowe downgraded shares of HNI from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 24th. Citigroup upgraded shares of HNI to an “outperform” rating and set a $42.00 target price on the stock in a research report on Wednesday, August 23rd. Finally, UBS upgraded shares of HNI from a “market perform” rating to an “outperform” rating in a research report on Wednesday, August 23rd. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. HNI has a consensus rating of “Hold” and a consensus price target of $44.50.
In related news, Chairman Stanley A. Askren sold 12,000 shares of HNI stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $37.78, for a total transaction of $453,360.00. Following the sale, the chairman now directly owns 216,996 shares in the company, valued at approximately $8,198,108.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Stanley A. Askren sold 3,032 shares of HNI stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $34.62, for a total transaction of $104,967.84. Following the sale, the chief executive officer now owns 213,020 shares in the company, valued at $7,374,752.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,053 shares of company stock worth $1,173,314. 5.16% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. raised its holdings in HNI by 271.4% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 2,600 shares of the business services provider’s stock worth $108,000 after purchasing an additional 1,900 shares during the last quarter. Systematic Financial Management LP raised its holdings in HNI by 1.2% during the 3rd quarter. Systematic Financial Management LP now owns 149,799 shares of the business services provider’s stock worth $6,212,000 after purchasing an additional 1,790 shares during the last quarter. SG Americas Securities LLC raised its holdings in HNI by 18.6% during the 3rd quarter. SG Americas Securities LLC now owns 16,463 shares of the business services provider’s stock worth $683,000 after purchasing an additional 2,586 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in HNI by 5,066.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 240,441 shares of the business services provider’s stock worth $9,972,000 after purchasing an additional 235,787 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in HNI by 8.9% during the 3rd quarter. Rhumbline Advisers now owns 95,340 shares of the business services provider’s stock worth $3,954,000 after purchasing an additional 7,783 shares during the last quarter. Hedge funds and other institutional investors own 70.83% of the company’s stock.
HNI (NYSE:HNI) traded up $0.05 on Friday, hitting $33.68. 142,257 shares of the stock were exchanged, compared to its average volume of 228,236. HNI has a one year low of $31.16 and a one year high of $56.94. The company has a current ratio of 1.08, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. The firm has a market cap of $1,489.55, a P/E ratio of 14.78 and a beta of 1.50.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Monday, November 20th were given a dividend of $0.285 per share. The ex-dividend date of this dividend was Friday, November 17th. This represents a $1.14 annualized dividend and a yield of 3.38%. HNI’s dividend payout ratio is presently 76.00%.
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HNI Corporation is a provider of office furniture and hearth products. The Company’s office furniture products include panel-based and freestanding furniture systems, seating, storage and tables. The Company’s segments include office furniture and hearth products. The office furniture segment manufactures and markets a line of metal and wood commercial and home office furniture, which includes storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions, and panel systems and other related products.
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