HNI Corporation (HNI) Forecasted to Post Q2 2018 Earnings of $0.57 Per Share

HNI Corporation (NYSE:HNI) – Equities researchers at Seaport Global Securities increased their Q2 2018 earnings estimates for HNI in a note issued to investors on Monday. Seaport Global Securities analyst M. Mccall now anticipates that the business services provider will post earnings per share of $0.57 for the quarter, up from their prior estimate of $0.55. Seaport Global Securities has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for HNI’s Q3 2018 earnings at $0.99 EPS.

Several other equities research analysts have also recently issued reports on HNI. Rowe cut shares of HNI from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 24th. Raymond James Financial reissued a “market perform” rating on shares of HNI in a research report on Tuesday, October 24th. Finally, Zacks Investment Research cut shares of HNI from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $42.00.

Shares of HNI (NYSE HNI) opened at $37.43 on Tuesday. The stock has a market cap of $1,635.03, a PE ratio of 18.44 and a beta of 1.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.00 and a quick ratio of 0.68. HNI has a 52-week low of $31.16 and a 52-week high of $48.32.

HNI (NYSE:HNI) last released its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.05. The company had revenue of $584.30 million during the quarter, compared to analysts’ expectations of $567.83 million. HNI had a net margin of 4.13% and a return on equity of 17.64%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company earned $0.82 EPS.

Institutional investors and hedge funds have recently made changes to their positions in the company. New York State Common Retirement Fund raised its stake in shares of HNI by 51.8% during the 3rd quarter. New York State Common Retirement Fund now owns 71,200 shares of the business services provider’s stock worth $2,953,000 after acquiring an additional 24,300 shares in the last quarter. Rhumbline Advisers raised its stake in shares of 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 acquiring an additional 7,783 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of HNI by 2.2% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,048,786 shares of the business services provider’s stock worth $43,493,000 after acquiring an additional 22,330 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of 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 acquiring an additional 235,787 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its stake in shares of 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 acquiring an additional 1,900 shares in the last quarter. 70.88% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Ronald V. Waters sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $40.00, for a total value of $200,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stanley A. Askren sold 3,021 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $35.07, for a total transaction of $105,946.47. The disclosure for this sale can be found here. Insiders sold a total of 29,375 shares of company stock valued at $1,027,081 in the last ninety days. Corporate insiders own 5.16% of the company’s stock.

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About HNI

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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