Equities research analysts forecast that HNI Corp (NYSE:HNI) will post sales of $620.70 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for HNI’s earnings. The highest sales estimate is $623.00 million and the lowest is $618.40 million. HNI posted sales of $599.46 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 3.5%. The business is expected to announce its next quarterly earnings report after the market closes on Monday, October 22nd.
According to Zacks, analysts expect that HNI will report full-year sales of $2.28 billion for the current financial year, with estimates ranging from $2.27 billion to $2.28 billion. For the next year, analysts forecast that the company will post sales of $2.37 billion, with estimates ranging from $2.36 billion to $2.38 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover HNI.
HNI (NYSE:HNI) last announced its quarterly earnings data on Monday, July 23rd. The business services provider reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.10. The firm had revenue of $543.60 million during the quarter, compared to analyst estimates of $525.00 million. HNI had a return on equity of 15.89% and a net margin of 4.13%. The company’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the company earned $0.42 earnings per share.
A number of brokerages have issued reports on HNI. ValuEngine upgraded HNI from a “sell” rating to a “hold” rating in a report on Wednesday, June 20th. TheStreet upgraded HNI from a “c+” rating to a “b-” rating in a report on Tuesday, July 24th. Finally, Zacks Investment Research cut HNI from a “hold” rating to a “sell” rating in a report on Thursday, July 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold”.
In other HNI news, Director Stanley A. Askren sold 25,212 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $42.56, for a total transaction of $1,073,022.72. Following the transaction, the director now owns 257,908 shares in the company, valued at $10,976,564.48. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Miguel M. Calado sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 24th. The stock was sold at an average price of $42.56, for a total value of $42,560.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,424 shares of company stock worth $2,852,585. Company insiders own 4.90% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Northern Trust Corp boosted its holdings in HNI by 2.2% during the second quarter. Northern Trust Corp now owns 699,848 shares of the business services provider’s stock worth $26,035,000 after buying an additional 15,341 shares during the last quarter. WINTON GROUP Ltd bought a new position in shares of HNI during the 2nd quarter valued at about $6,758,000. Millennium Management LLC lifted its holdings in shares of HNI by 71.3% during the 2nd quarter. Millennium Management LLC now owns 20,607 shares of the business services provider’s stock valued at $767,000 after purchasing an additional 8,577 shares in the last quarter. Waddell & Reed Financial Inc. lifted its holdings in shares of HNI by 2.4% during the 2nd quarter. Waddell & Reed Financial Inc. now owns 256,100 shares of the business services provider’s stock valued at $9,527,000 after purchasing an additional 6,030 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund bought a new position in shares of HNI during the 2nd quarter valued at about $634,000. Hedge funds and other institutional investors own 71.88% of the company’s stock.
HNI stock traded down $0.59 during midday trading on Monday, reaching $38.26. The stock had a trading volume of 290,193 shares, compared to its average volume of 174,484. The company has a quick ratio of 0.78, a current ratio of 1.23 and a debt-to-equity ratio of 0.56. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 19.42 and a beta of 1.39. HNI has a twelve month low of $31.16 and a twelve month high of $45.40.
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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