HNI Co. (HNI) Expected to Post Earnings of $0.34 Per Share

Equities research analysts predict that HNI Co. (NYSE:HNI) will announce earnings of $0.34 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for HNI’s earnings. The lowest EPS estimate is $0.33 and the highest is $0.34. HNI reported earnings per share of $0.42 in the same quarter last year, which suggests a negative year-over-year growth rate of 19%. The business is expected to announce its next quarterly earnings report on Monday, July 23rd.

On average, analysts expect that HNI will report full year earnings of $2.56 per share for the current year, with EPS estimates ranging from $2.55 to $2.57. For the next financial year, analysts anticipate that the firm will post earnings of $3.05 per share, with EPS estimates ranging from $2.89 to $3.20. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for HNI.

HNI (NYSE:HNI) last released its quarterly earnings results on Friday, April 20th. The business services provider reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.07. The company had revenue of $505.10 million during the quarter, compared to analyst estimates of $495.33 million. HNI had a return on equity of 16.06% and a net margin of 3.97%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the business posted $0.26 earnings per share.

Several research analysts have issued reports on the company. Seaport Global Securities restated a “neutral” rating on shares of HNI in a research report on Monday, February 12th. ValuEngine lowered HNI from a “hold” rating to a “sell” rating in a research report on Monday, April 2nd. Finally, Zacks Investment Research lowered HNI from a “hold” rating to a “sell” rating in a research report on Tuesday, April 17th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $42.00.

In other HNI news, SVP Kurt A. Tjaden sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $38.76, for a total transaction of $775,200.00. Following the completion of the transaction, the senior vice president now owns 49,634 shares in the company, valued at $1,923,813.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Stanley A. Askren sold 25,212 shares of the business’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $35.10, for a total value of $884,941.20. Following the transaction, the chairman now owns 256,528 shares of the company’s stock, valued at approximately $9,004,132.80. The disclosure for this sale can be found here. Insiders have sold 128,305 shares of company stock valued at $4,760,167 in the last 90 days. Company insiders own 5.16% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Great West Life Assurance Co. Can boosted its position in shares of HNI by 5.9% during the first quarter. Great West Life Assurance Co. Can now owns 27,393 shares of the business services provider’s stock valued at $989,000 after buying an additional 1,522 shares during the period. Northwestern Mutual Investment Management Company LLC raised its stake in shares of HNI by 55.6% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 8,849 shares of the business services provider’s stock valued at $319,000 after acquiring an additional 3,162 shares in the last quarter. Xact Kapitalforvaltning AB raised its stake in shares of HNI by 56.5% during the first quarter. Xact Kapitalforvaltning AB now owns 9,416 shares of the business services provider’s stock valued at $340,000 after acquiring an additional 3,400 shares in the last quarter. Brinker Capital Inc. raised its stake in shares of HNI by 21.8% during the first quarter. Brinker Capital Inc. now owns 21,351 shares of the business services provider’s stock valued at $771,000 after acquiring an additional 3,822 shares in the last quarter. Finally, Systematic Financial Management LP raised its stake in shares of HNI by 3.1% during the first quarter. Systematic Financial Management LP now owns 146,968 shares of the business services provider’s stock valued at $5,304,000 after acquiring an additional 4,390 shares in the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

HNI opened at $37.14 on Monday, according to Marketbeat.com. The stock has a market capitalization of $1.62 billion, a P/E ratio of 18.85 and a beta of 1.38. HNI has a 12 month low of $31.16 and a 12 month high of $46.53. The company has a quick ratio of 0.70, a current ratio of 1.08 and a debt-to-equity ratio of 0.49.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Friday, May 18th will be given a dividend of $0.295 per share. This represents a $1.18 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Thursday, May 17th. This is a positive change from HNI’s previous quarterly dividend of $0.29. HNI’s payout ratio is 59.90%.

HNI Company Profile

HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, and Taiwan. The company's Office Furniture segment offers a range of metal and wood commercial and home office furniture, which include storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions and panel systems, and other related products under the HON, Allsteel, Maxon, Gunlocke, HBF, OFM, basyx by HON, Lamex, and HNI India brands.

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