Wall Street brokerages expect Herman Miller, Inc. (NASDAQ:MLHR) to post earnings of $0.79 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Herman Miller’s earnings. Herman Miller reported earnings per share of $0.69 in the same quarter last year, which indicates a positive year over year growth rate of 14.5%. The business is scheduled to announce its next earnings results on Wednesday, September 18th.
On average, analysts expect that Herman Miller will report full-year earnings of $3.32 per share for the current fiscal year, with EPS estimates ranging from $3.30 to $3.33. For the next financial year, analysts forecast that the company will post earnings of $3.61 per share, with EPS estimates ranging from $3.60 to $3.61. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Herman Miller.
Herman Miller (NASDAQ:MLHR) last announced its earnings results on Wednesday, June 26th. The business services provider reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.10. Herman Miller had a return on equity of 25.20% and a net margin of 6.25%. The business had revenue of $671.00 million during the quarter, compared to analysts’ expectations of $657.23 million. During the same quarter last year, the business posted $0.66 earnings per share. The company’s quarterly revenue was up 8.6% on a year-over-year basis.
Several research analysts recently weighed in on the company. Raymond James set a C$1.00 target price on Orezone Gold and gave the company an “outperform” rating in a research note on Friday, June 28th. Zacks Investment Research cut EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. ValuEngine raised Zogenix from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 27th. BidaskClub downgraded Inovio Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, June 1st. Finally, Sidoti downgraded Herman Miller from a “buy” rating to a “neutral” rating in a report on Wednesday, May 1st. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $49.00.
MLHR stock traded down $0.27 during trading hours on Friday, hitting $44.88. 466,122 shares of the stock traded hands, compared to its average volume of 575,921. The firm has a 50-day moving average of $40.81. Herman Miller has a one year low of $28.66 and a one year high of $45.67. The firm has a market capitalization of $2.64 billion, a P/E ratio of 15.11 and a beta of 1.63. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.39.
The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Saturday, June 1st were issued a dividend of $0.1975 per share. This represents a $0.79 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend was Thursday, May 30th. Herman Miller’s dividend payout ratio is 26.60%.
In related news, SVP Jeffrey L. Kurburski sold 3,108 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $39.32, for a total value of $122,206.56. Following the completion of the sale, the senior vice president now directly owns 9,557 shares of the company’s stock, valued at approximately $375,781.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gregory J. Bylsma sold 5,236 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $38.99, for a total value of $204,151.64. Following the completion of the sale, the insider now directly owns 31,898 shares of the company’s stock, valued at $1,243,703.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,061 shares of company stock valued at $799,942. 1.05% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Texas Permanent School Fund grew its holdings in Herman Miller by 3.7% in the 4th quarter. Texas Permanent School Fund now owns 38,829 shares of the business services provider’s stock valued at $1,175,000 after buying an additional 1,393 shares during the last quarter. Advisor Group Inc. raised its holdings in shares of Herman Miller by 61.2% in the 4th quarter. Advisor Group Inc. now owns 1,314 shares of the business services provider’s stock worth $40,000 after purchasing an additional 499 shares during the period. Great West Life Assurance Co. Can raised its holdings in shares of Herman Miller by 4.3% in the 4th quarter. Great West Life Assurance Co. Can now owns 37,278 shares of the business services provider’s stock worth $1,047,000 after purchasing an additional 1,541 shares during the period. Hsbc Holdings PLC raised its holdings in shares of Herman Miller by 14.7% in the 4th quarter. Hsbc Holdings PLC now owns 9,608 shares of the business services provider’s stock worth $291,000 after purchasing an additional 1,234 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Herman Miller by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 887,738 shares of the business services provider’s stock worth $26,853,000 after purchasing an additional 60,758 shares during the period. 81.22% of the stock is owned by hedge funds and other institutional investors.
Herman Miller Company Profile
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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