Herman Miller (MLHR) Releases Q4 Earnings Guidance

Herman Miller (NASDAQ:MLHR) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.76-0.80 for the period, compared to the Thomson Reuters consensus estimate of $0.72. The company issued revenue guidance of $645-665 million, compared to the consensus revenue estimate of $655.97 million.

Several research firms recently issued reports on MLHR. BidaskClub lowered Herman Miller from a hold rating to a sell rating in a research note on Tuesday, January 29th. Zacks Investment Research raised Herman Miller from a hold rating to a buy rating and set a $34.00 price objective for the company in a research note on Wednesday, December 26th. Finally, Raymond James dropped their price objective on Herman Miller from $43.00 to $40.00 and set an outperform rating for the company in a research note on Friday, December 21st.

NASDAQ:MLHR traded down $0.87 during trading hours on Wednesday, hitting $35.06. 531,125 shares of the company’s stock traded hands, compared to its average volume of 363,641. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 15.24 and a beta of 1.49. Herman Miller has a 52 week low of $28.66 and a 52 week high of $40.65. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.99 and a current ratio of 1.41.

Herman Miller (NASDAQ:MLHR) last posted its quarterly earnings data on Wednesday, December 19th. The business services provider reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.03. The company had revenue of $652.60 million during the quarter, compared to analyst estimates of $645.67 million. Herman Miller had a return on equity of 23.25% and a net margin of 5.53%. The firm’s quarterly revenue was up 7.9% on a year-over-year basis. During the same quarter last year, the company earned $0.57 earnings per share. Equities analysts forecast that Herman Miller will post 2.76 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Saturday, March 2nd will be paid a dividend of $0.1975 per share. This represents a $0.79 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend is Thursday, February 28th. Herman Miller’s dividend payout ratio is 34.35%.

In related news, Director Douglas D. French sold 3,800 shares of Herman Miller stock in a transaction on Thursday, January 17th. The stock was sold at an average price of $33.06, for a total transaction of $125,628.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.05% of the stock is currently owned by company insiders.

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Herman Miller Company Profile

Herman Miller, Inc engages in the provision of furnishings and related technologies and services. It operates through the following segments: North American Furniture Solutions, ELA Furniture Solutions, Specialty, Consumer, and Corporate. The North American Furniture Solutions segment involves in the design, manufacture, and sale of furniture products for work-related settings such as office, education, and healthcare environments.

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