HNI (NYSE:HNI – Get Free Report) posted its earnings results on Tuesday. The business services provider reported $1.62 EPS for the quarter, topping the consensus estimate of $1.39 by $0.23, reports. The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.60 billion. HNI had a net margin of 0.10% and a return on equity of 13.66%. The company’s quarterly revenue was up 132.9% compared to the same quarter last year. During the same period last year, the company posted $0.88 EPS.
HNI Stock Down 1.1%
Shares of HNI traded down $0.55 during mid-day trading on Tuesday, reaching $49.12. The company had a trading volume of 176,390 shares, compared to its average volume of 656,763. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.88 and a current ratio of 1.36. The firm has a 50-day moving average price of $47.38 and a 200 day moving average price of $41.99. HNI has a 52 week low of $28.93 and a 52 week high of $52.79. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of 548.06, a price-to-earnings-growth ratio of 0.75 and a beta of 0.93.
HNI Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 28th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Friday, August 28th. HNI’s dividend payout ratio (DPR) is presently 1,555.56%.
Analyst Ratings Changes
Several brokerages recently issued reports on HNI. Benchmark reiterated a “buy” rating on shares of HNI in a research report on Wednesday, July 15th. Wall Street Zen upgraded shares of HNI from a “hold” rating to a “buy” rating in a report on Saturday, September 12th. Wells Fargo & Company set a $65.00 price objective on HNI in a research report on Wednesday, July 15th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of HNI in a report on Thursday, October 22nd. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $65.00.
Check Out Our Latest Report on HNI
Insider Buying and Selling at HNI
In related news, CEO Jeffrey Lorenger sold 1,504 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $50.00, for a total transaction of $75,200.00. Following the completion of the transaction, the chief executive officer owned 148,490 shares of the company’s stock, valued at $7,424,500. This trade represents a 1.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 49,288 shares of company stock valued at $2,468,419. Corporate insiders own 2.15% of the company’s stock.
About HNI
HNI Corporation (NYSE:HNI), headquartered in Muscatine, Iowa, is a workplace and residential building products company. Its businesses serve organizations, businesses, education and government customers, as well as residential consumers through office furnishings and hearth products.
HNI’s workplace furnishings portfolio includes desks, tables, seating, storage, collaborative products and related workplace solutions. Its brands include HON, Allsteel, HBF and Gunlocke, among others. The company sells products through dealers, retailers, e-commerce channels and other distribution partners, primarily serving customers in North America.
Through its hearth products business, HNI manufactures fireplaces, inserts, stoves and related products fueled by gas, wood and pellets.
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