Zacks: Brokerages Anticipate HNI Corp (HNI) to Post $0.86 Earnings Per Share

Equities analysts expect that HNI Corp (NYSE:HNI) will report $0.86 earnings per share for the current quarter, Zacks reports. Two analysts have made estimates for HNI’s earnings. The highest EPS estimate is $0.86 and the lowest is $0.85. HNI posted earnings per share of $0.82 during the same quarter last year, which would suggest a positive year over year growth rate of 4.9%. The business is scheduled to report its next earnings results after the market closes on Monday, October 22nd.

On average, analysts expect that HNI will report full year earnings of $2.43 per share for the current fiscal year, with EPS estimates ranging from $2.41 to $2.45. For the next year, analysts anticipate that the company will report earnings of $3.02 per share, with EPS estimates ranging from $2.93 to $3.10. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover HNI.

HNI (NYSE:HNI) last released its quarterly earnings results on Monday, July 23rd. The business services provider reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.10. The firm had revenue of $543.60 million for the quarter, compared to analysts’ expectations of $525.00 million. HNI had a return on equity of 15.89% and a net margin of 4.13%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.42 EPS.

Several equities analysts have recently weighed in on the company. ValuEngine cut HNI from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. TheStreet raised HNI from a “c+” rating to a “b-” rating in a report on Tuesday, July 24th. Finally, Zacks Investment Research cut HNI from a “hold” rating to a “sell” rating in a report on Thursday, July 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold”.

Shares of NYSE HNI traded down $0.59 during midday trading on Friday, hitting $38.26. 290,193 shares of the stock traded hands, compared to its average volume of 174,484. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 19.42 and a beta of 1.39. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.23 and a quick ratio of 0.78. HNI has a one year low of $31.16 and a one year high of $45.40.

In related news, Director Stanley A. Askren sold 15,000 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $44.03, for a total value of $660,450.00. Following the transaction, the director now directly owns 247,124 shares of the company’s stock, valued at approximately $10,880,869.72. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Miguel M. Calado sold 1,000 shares of the firm’s stock in a transaction on Tuesday, July 24th. The stock was 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. Over the last ninety days, insiders sold 66,424 shares of company stock worth $2,852,585. 4.90% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can bought a new position in HNI in the 2nd quarter worth $157,000. Principal Financial Group Inc. raised its holdings in 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 worth $56,252,000 after purchasing an additional 131,086 shares during the period. First Trust Advisors LP raised its holdings in HNI by 21.2% in the 2nd quarter. First Trust Advisors LP now owns 42,766 shares of the business services provider’s stock worth $1,591,000 after purchasing an additional 7,489 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in HNI by 13.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 427,864 shares of the business services provider’s stock worth $15,917,000 after purchasing an additional 50,043 shares during the period. Finally, BlackRock Inc. raised its holdings in HNI by 1.1% in the 1st quarter. BlackRock Inc. now owns 4,494,356 shares of the business services provider’s stock worth $162,201,000 after purchasing an additional 49,092 shares during the period. 71.88% of the stock is currently owned by institutional investors.

HNI Company Profile

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.

See Also: Intrinsic Value

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