HNI Corporation (NYSE:HNI – Get Free Report) declared a quarterly dividend on Monday, August 17th. Shareholders of record on Friday, August 28th will be given a dividend of 0.35 per share by the business services provider on Friday, September 11th. This represents a c) annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, August 28th.
HNI has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 15 consecutive years. HNI has a dividend payout ratio of 34.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect HNI to earn $4.87 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 28.7%.
HNI Stock Performance
Shares of HNI opened at $49.85 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 0.88 and a debt-to-equity ratio of 0.76. The firm has a market cap of $3.60 billion, a PE ratio of 553.94, a P/E/G ratio of 0.58 and a beta of 0.91. HNI has a 12 month low of $28.93 and a 12 month high of $52.79. The stock has a fifty day moving average price of $42.93 and a 200-day moving average price of $39.47.
Wall Street Analyst Weigh In
Several equities analysts recently commented on HNI shares. Wells Fargo & Company set a $65.00 price objective on shares of HNI in a research report on Wednesday, July 15th. Benchmark reaffirmed a “buy” rating on shares of HNI in a report on Wednesday, July 15th. Finally, Weiss Ratings raised shares of HNI from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, July 24th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $65.00.
Check Out Our Latest Stock Report on HNI
About HNI
HNI Corporation, founded in 1944 as the Heating & Novelty Company and headquartered in Muscatine, Iowa, is a leading manufacturer of office furniture and hearth products. Over its history, the company has evolved from producing gas heaters into two primary business segments: Office Furniture and Hearth & Home. HNI’s Office Furniture division operates under well-known brands such as The HON Company, Allsteel, Gunlocke and Kimball, offering a comprehensive portfolio of workstations, seating, tables, storage solutions and acoustic products tailored for corporate, education, healthcare and government markets.
In its Hearth & Home segment, HNI designs, manufactures and distributes fireplaces, stoves, fireplace inserts, logs and related accessories.
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