HNI Corporation (NYSE:HNI) Plans $0.34 Quarterly Dividend

HNI Corporation (NYSE:HNI) announced a quarterly dividend on Wednesday, November 5th. Shareholders of record on Monday, November 17th will be given a dividend of 0.34 per share by the business services provider on Monday, December 1st. This represents a c) dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Monday, November 17th.

HNI has raised its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 15 consecutive years. HNI has a dividend payout ratio of 33.9% meaning its dividend is sufficiently covered by earnings. Analysts expect HNI to earn $4.01 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 33.9%.

HNI Price Performance

Shares of HNI opened at $40.22 on Thursday. HNI has a twelve month low of $39.24 and a twelve month high of $58.42. The firm’s fifty day simple moving average is $44.75 and its 200-day simple moving average is $46.30. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 0.58 and a beta of 0.96. The company has a current ratio of 1.33, a quick ratio of 0.93 and a debt-to-equity ratio of 0.40.

HNI (NYSE:HNI) last announced its quarterly earnings results on Tuesday, October 28th. The business services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.07 by $0.03. HNI had a net margin of 5.46% and a return on equity of 20.33%. The firm had revenue of $683.80 million for the quarter, compared to analyst estimates of $688.64 million. During the same period last year, the business earned $1.03 EPS. HNI’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities analysts forecast that HNI will post 3.6 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wall Street Zen downgraded shares of HNI from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Weiss Ratings raised shares of HNI from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, October 8th. Finally, Benchmark reaffirmed a “buy” rating on shares of HNI in a report on Wednesday, October 29th. Three investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $75.00.

About HNI

HNI Corporation, together with its subsidiaries, engages in the manufacture, sale, and marketing of workplace furnishings and residential building products primarily in the United States and Canada. The company operates through two segments, Workplace Furnishings and Residential Building Products. The Workplace Furnishings segment offers a range of commercial and home office furniture, including panel-based and freestanding furniture systems, seating, storage, benching, tables, architectural products, and ancillary and hospitality products, as well as social collaborative items under the HON, Allsteel, Beyond, Gunlocke, HBF, HBF Textiles, HNI India, Kimball, National, Etc., Interwoven, David Edward, Kimball Hospitality, and D'style brands.