Zacks: Analysts Expect HNI Corporation (HNI) to Announce $0.44 EPS

Equities analysts forecast that HNI Corporation (NYSE:HNI) will announce earnings per share of $0.44 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for HNI’s earnings. The highest EPS estimate is $0.44 and the lowest is $0.43. HNI posted earnings of $0.82 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 46.3%. The business is expected to announce its next quarterly earnings report after the market closes on Thursday, February 8th.

On average, analysts expect that HNI will report full year earnings of $1.94 per share for the current fiscal year, with EPS estimates ranging from $1.93 to $1.94. For the next fiscal year, analysts forecast that the firm will post earnings of $2.49 per share, with EPS estimates ranging from $2.40 to $2.58. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for HNI.

HNI has been the topic of several research reports. Zacks Investment Research upgraded shares of HNI from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 26th. Raymond James Financial reiterated a “market perform” rating on shares of HNI in a research report on Tuesday, October 24th. Finally, Rowe downgraded shares of HNI from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 24th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $39.67.

In related news, CEO Stanley A. Askren sold 3,021 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $35.07, for a total transaction of $105,946.47. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Stanley A. Askren sold 3,032 shares of the company’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $34.62, for a total transaction of $104,967.84. Following the transaction, the chief executive officer now owns 213,020 shares in the company, valued at approximately $7,374,752.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,375 shares of company stock worth $1,027,081. 5.16% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Systematic Financial Management LP lifted its position in HNI by 1.2% during the 3rd quarter. Systematic Financial Management LP now owns 149,799 shares of the business services provider’s stock valued at $6,212,000 after purchasing an additional 1,790 shares during the period. Fuller & Thaler Asset Management Inc. lifted its position in 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 valued at $108,000 after purchasing an additional 1,900 shares during the period. SG Americas Securities LLC lifted its position in HNI by 18.6% during the 3rd quarter. SG Americas Securities LLC now owns 16,463 shares of the business services provider’s stock valued at $683,000 after purchasing an additional 2,586 shares during the period. Crossmark Global Holdings Inc. acquired a new position in HNI during the 4th quarter valued at about $239,000. Finally, Rhumbline Advisers lifted its position in HNI by 8.9% during the 3rd quarter. Rhumbline Advisers now owns 95,340 shares of the business services provider’s stock valued at $3,954,000 after purchasing an additional 7,783 shares during the period. Institutional investors own 70.45% of the company’s stock.

Shares of HNI (NYSE HNI) traded up $0.78 during midday trading on Wednesday, reaching $36.18. 224,434 shares of the company traded hands, compared to its average volume of 206,819. The firm has a market cap of $1,570.00, a P/E ratio of 24.28 and a beta of 1.44. The company has a current ratio of 1.08, a quick ratio of 0.74 and a debt-to-equity ratio of 0.59. HNI has a 1-year low of $31.16 and a 1-year high of $48.32.

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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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