Herman Miller (NASDAQ:MLHR) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.76-0.80 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.72. The company issued revenue guidance of $645-665 million, compared to the consensus revenue estimate of $655.97 million.
MLHR stock traded down $0.87 during trading on Wednesday, hitting $35.06. 531,125 shares of the company traded hands, compared to its average volume of 363,641. The company has a current ratio of 1.41, a quick ratio of 0.99 and a debt-to-equity ratio of 0.41. The stock has a market cap of $2.12 billion, a P/E ratio of 15.24 and a beta of 1.49. Herman Miller has a 1 year low of $28.66 and a 1 year high of $40.65.
Herman Miller (NASDAQ:MLHR) last posted its quarterly earnings data on Wednesday, December 19th. The business services provider reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.03. The business had revenue of $652.60 million during the quarter, compared to analysts’ expectations of $645.67 million. Herman Miller had a return on equity of 23.25% and a net margin of 5.53%. The business’s revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 earnings per share. On average, research analysts predict 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. Stockholders of record on Saturday, March 2nd will be given a $0.1975 dividend. This represents a $0.79 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Thursday, February 28th. Herman Miller’s dividend payout ratio (DPR) is presently 34.35%.
A number of analysts have recently commented on MLHR shares. BidaskClub upgraded Herman Miller from a strong sell rating to a sell rating in a research report on Friday, December 21st. Raymond James cut their price objective on Herman Miller from $43.00 to $40.00 and set an outperform rating for the company in a research report on Friday, December 21st. Finally, Zacks Investment Research upgraded Herman Miller from a hold rating to a buy rating and set a $34.00 price objective for the company in a research report on Wednesday, December 26th.
In related news, Director Douglas D. French sold 3,800 shares of the business’s stock in a transaction that occurred on Thursday, January 17th. The stock was sold at an average price of $33.06, for a total transaction of $125,628.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.05% of the stock is currently owned by 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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