Brokerages expect Herman Miller, Inc. (NASDAQ:MLHR) to report earnings per share of $0.59 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Herman Miller’s earnings. The highest EPS estimate is $0.59 and the lowest is $0.58. Herman Miller reported earnings of $0.64 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 7.8%. The business is expected to report its next quarterly earnings results after the market closes on Monday, July 2nd.
According to Zacks, analysts expect that Herman Miller will report full-year earnings of $2.24 per share for the current year, with EPS estimates ranging from $2.23 to $2.24. For the next fiscal year, analysts expect that the firm will report earnings of $2.59 per share, with EPS estimates ranging from $2.57 to $2.60. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Herman Miller.
Herman Miller (NASDAQ:MLHR) last posted its quarterly earnings results on Wednesday, March 21st. The business services provider reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.01. The firm had revenue of $578.40 million during the quarter, compared to the consensus estimate of $573.30 million. Herman Miller had a net margin of 5.55% and a return on equity of 22.26%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 earnings per share.
A number of equities analysts recently commented on MLHR shares. BidaskClub raised shares of Herman Miller from a “sell” rating to a “hold” rating in a research note on Friday, May 4th. ValuEngine downgraded shares of Herman Miller from a “buy” rating to a “hold” rating in a research note on Friday, March 23rd. Finally, Zacks Investment Research downgraded shares of Herman Miller from a “hold” rating to a “sell” rating in a research note on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $41.67.
In related news, insider Gregory J. Bylsma sold 17,907 shares of the business’s stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $32.23, for a total value of $577,142.61. Following the completion of the transaction, the insider now owns 60,441 shares of the company’s stock, valued at $1,948,013.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.91% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MLHR. Millennium Management LLC grew its holdings in Herman Miller by 96.5% in the fourth quarter. Millennium Management LLC now owns 506,581 shares of the business services provider’s stock worth $20,289,000 after purchasing an additional 248,806 shares during the last quarter. BlackRock Inc. grew its holdings in Herman Miller by 3.2% in the fourth quarter. BlackRock Inc. now owns 6,323,198 shares of the business services provider’s stock worth $253,243,000 after purchasing an additional 195,666 shares during the last quarter. LSV Asset Management grew its holdings in Herman Miller by 7.7% in the first quarter. LSV Asset Management now owns 2,521,607 shares of the business services provider’s stock worth $80,565,000 after purchasing an additional 180,450 shares during the last quarter. Ancora Advisors LLC purchased a new position in Herman Miller in the first quarter worth $5,248,000. Finally, Guggenheim Capital LLC grew its holdings in Herman Miller by 305.5% in the fourth quarter. Guggenheim Capital LLC now owns 213,203 shares of the business services provider’s stock worth $8,541,000 after purchasing an additional 160,623 shares during the last quarter. 81.81% of the stock is currently owned by institutional investors and hedge funds.
Herman Miller traded up $0.05, reaching $34.95, during trading hours on Tuesday, MarketBeat Ratings reports. The company’s stock had a trading volume of 300 shares, compared to its average volume of 223,470. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 16.20 and a beta of 1.41. Herman Miller has a 12 month low of $29.25 and a 12 month high of $41.85. The company has a quick ratio of 1.15, a current ratio of 1.59 and a debt-to-equity ratio of 0.42.
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, July 15th. Investors of record on Saturday, June 2nd will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Thursday, May 31st. Herman Miller’s dividend payout ratio (DPR) is 33.33%.
About Herman Miller
Herman Miller, Inc engages in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, home furnishings, and related services in the United States and internationally. The company provides modular systems under the Canvas Office Landscape, Locale, Public Office Landscape, Layout Studio, Action Office, Ethospace, Arras, and Resolve names; seating products under the Embody, Aeron, Mirra2, Setu, Say, Verus, Celle, Equa, Taper, and Ergon names; and storage products under the Meridian and Tu names.
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