Equities research analysts expect Herman Miller, Inc. (NASDAQ:MLHR) to announce $0.78 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Herman Miller’s earnings. The highest EPS estimate is $0.78 and the lowest is $0.77. Herman Miller posted earnings of $0.66 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 18.2%. The company is expected to announce its next quarterly earnings results on Monday, July 1st.
According to Zacks, analysts expect that Herman Miller will report full year earnings of $2.86 per share for the current fiscal year, with EPS estimates ranging from $2.85 to $2.86. For the next financial year, analysts expect that the company will post earnings of $3.25 per share, with EPS estimates ranging from $3.24 to $3.25. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Herman Miller.
Herman Miller (NASDAQ:MLHR) last released its earnings results on Wednesday, March 20th. The business services provider reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.03. Herman Miller had a net margin of 5.81% and a return on equity of 23.88%. The firm had revenue of $619.00 million for the quarter, compared to the consensus estimate of $622.43 million. During the same period in the prior year, the firm earned $0.50 EPS. The company’s revenue was up 7.0% compared to the same quarter last year.
Several brokerages have recently weighed in on MLHR. BidaskClub cut shares of Herman Miller from a “hold” rating to a “sell” rating in a research note on Tuesday, January 29th. Zacks Investment Research upgraded shares of Herman Miller from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Wednesday, December 26th. Finally, Raymond James lowered their price objective on shares of Herman Miller from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, December 21st.
Shares of MLHR stock opened at $37.81 on Friday. Herman Miller has a one year low of $28.66 and a one year high of $40.65. The stock has a market cap of $2.18 billion, a P/E ratio of 16.44 and a beta of 1.48. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.39.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Saturday, March 2nd were paid a $0.1975 dividend. This represents a $0.79 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Thursday, February 28th. Herman Miller’s dividend payout ratio (DPR) is presently 34.35%.
In other Herman Miller news, Director Douglas D. French sold 3,800 shares of the firm’s stock in a transaction that occurred on Thursday, January 17th. The shares were sold at an average price of $33.06, for a total transaction of $125,628.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gregory J. Bylsma sold 9,048 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $34.98, for a total transaction of $316,499.04. Following the sale, the insider now owns 37,134 shares in the company, valued at approximately $1,298,947.32. The disclosure for this sale can be found here. 1.05% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. boosted its stake in Herman Miller by 20.9% during the first quarter. Meeder Asset Management Inc. now owns 28,515 shares of the business services provider’s stock worth $1,003,000 after buying an additional 4,931 shares during the period. BTIM Corp. raised its holdings in shares of Herman Miller by 1.6% in the first quarter. BTIM Corp. now owns 359,026 shares of the business services provider’s stock valued at $12,631,000 after acquiring an additional 5,761 shares in the last quarter. Sciencast Management LP bought a new stake in shares of Herman Miller in the first quarter valued at about $399,000. First Citizens Bank & Trust Co. bought a new stake in shares of Herman Miller in the first quarter valued at about $307,000. Finally, Huntington National Bank bought a new stake in shares of Herman Miller in the first quarter valued at about $892,000. Institutional investors own 82.33% of the company’s stock.
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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