Equities research analysts expect that Herman Miller, Inc. (NASDAQ:MLHR) will post earnings per share of $0.79 for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Herman Miller’s earnings. Herman Miller posted earnings of $0.69 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 14.5%. The company is expected to report its next quarterly earnings results on Wednesday, September 18th.
According to Zacks, analysts expect that Herman Miller will report full-year earnings of $3.32 per share for the current year, with EPS estimates ranging from $3.30 to $3.33. For the next financial year, analysts anticipate that the company will report earnings of $3.61 per share, with EPS estimates ranging from $3.60 to $3.61. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Herman Miller.
Herman Miller (NASDAQ:MLHR) last issued its quarterly earnings data on Wednesday, June 26th. The business services provider reported $0.88 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.10. The firm had revenue of $671.00 million during the quarter, compared to the consensus estimate of $657.23 million. Herman Miller had a return on equity of 25.20% and a net margin of 6.25%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.66 EPS.
A number of research analysts recently commented on the company. Sidoti downgraded Herman Miller from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 1st. They noted that the move was a valuation call. Raymond James set a C$1.00 price objective on Orezone Gold and gave the stock an “outperform” rating in a research note on Friday, June 28th. ValuEngine upgraded Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. Zacks Investment Research downgraded EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, BidaskClub cut Inovio Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 1st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $49.00.
In other news, insider Gregory J. Bylsma sold 5,236 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $38.99, for a total transaction of $204,151.64. Following the completion of the sale, the insider now directly owns 31,898 shares of the company’s stock, valued at $1,243,703.02. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jeffrey L. Kurburski sold 3,108 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $39.32, for a total value of $122,206.56. Following the sale, the senior vice president now directly owns 9,557 shares of the company’s stock, valued at $375,781.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,061 shares of company stock valued at $799,942. 1.05% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in MLHR. Penserra Capital Management LLC bought a new stake in shares of Herman Miller in the 1st quarter worth approximately $27,000. Bremer Bank National Association bought a new stake in Herman Miller during the first quarter worth about $44,000. Advisor Group Inc. increased its position in Herman Miller by 61.2% during the fourth quarter. Advisor Group Inc. now owns 1,314 shares of the business services provider’s stock worth $40,000 after buying an additional 499 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in Herman Miller during the second quarter worth approximately $79,000. Finally, Investors Research Corp acquired a new position in Herman Miller during the first quarter worth approximately $120,000. 81.22% of the stock is owned by hedge funds and other institutional investors.
MLHR traded down $0.27 during trading on Friday, reaching $44.88. 466,122 shares of the company were exchanged, compared to its average volume of 575,921. The firm has a market capitalization of $2.64 billion, a PE ratio of 15.11 and a beta of 1.63. The business’s 50 day moving average price is $40.81. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.07 and a current ratio of 1.48. Herman Miller has a 52 week low of $28.66 and a 52 week high of $45.67.
The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Saturday, June 1st were issued a dividend of $0.1975 per share. This represents a $0.79 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Thursday, May 30th. Herman Miller’s dividend payout ratio is 26.60%.
Herman Miller Company Profile
Herman Miller, Inc engages in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, home furnishings, and related services in the United States and internationally. The company provides modular systems under the Canvas Office Landscape, Locale, Public Office Landscape, Layout Studio, Action Office, Ethospace, Arras, and Resolve names; seating products under the Embody, Aeron, Mirra2, Setu, Say, Verus, Celle, Equa, Taper, and Ergon names; and storage products under the Meridian and Tu names.
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