Equities analysts expect Herman Miller, Inc. (NASDAQ:MLHR) to announce $0.78 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Herman Miller’s earnings, with the highest EPS estimate coming in at $0.78 and the lowest estimate coming in at $0.77. Herman Miller posted earnings of $0.66 per share during the same quarter last year, which indicates a positive year over year growth rate of 18.2%. The business is expected to announce its next earnings report 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 year, with EPS estimates ranging from $2.85 to $2.86. For the next year, analysts anticipate that the business will report earnings of $3.25 per share, with EPS estimates ranging from $3.24 to $3.25. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Herman Miller.
Herman Miller (NASDAQ:MLHR) last announced its earnings results on Wednesday, March 20th. The business services provider reported $0.64 earnings per share (EPS) for the quarter, beating the 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 business had revenue of $619.00 million during the quarter, compared to analyst estimates of $622.43 million. During the same period in the previous year, the business posted $0.50 earnings per share. Herman Miller’s revenue for the quarter was up 7.0% on a year-over-year basis.
A number of research firms have recently commented on MLHR. BidaskClub upgraded Herman Miller from a “sell” rating to a “hold” rating in a research report on Saturday. Zacks Investment Research upgraded Herman Miller from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research note on Wednesday, December 26th. Finally, Raymond James cut their target price on Herman Miller from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Friday, December 21st.
NASDAQ MLHR opened at $37.81 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.39. The company has a market cap of $2.18 billion, a PE ratio of 16.44 and a beta of 1.48. Herman Miller has a one year low of $28.66 and a one year high of $40.65.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Saturday, March 2nd were issued a $0.1975 dividend. This represents a $0.79 annualized dividend and a yield of 2.09%. The ex-dividend date was Thursday, February 28th. Herman Miller’s dividend payout ratio 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 dated Thursday, January 17th. The stock was sold at an average price of $33.06, for a total value of $125,628.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gregory J. Bylsma sold 9,048 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $34.98, for a total value of $316,499.04. Following the completion of the sale, the insider now directly owns 37,134 shares of the company’s stock, valued at approximately $1,298,947.32. The disclosure for this sale can be found here. 1.05% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Advisor Group Inc. lifted its position in Herman Miller by 61.2% during the 4th quarter. Advisor Group Inc. now owns 1,314 shares of the business services provider’s stock worth $40,000 after acquiring an additional 499 shares during the period. Bremer Trust National Association acquired a new position in Herman Miller in the fourth quarter worth about $50,000. First Bank & Trust raised its position in Herman Miller by 10.6% in the fourth quarter. First Bank & Trust now owns 4,156 shares of the business services provider’s stock worth $126,000 after purchasing an additional 399 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in shares of Herman Miller during the fourth quarter worth approximately $165,000. Finally, Quantamental Technologies LLC acquired a new stake in shares of Herman Miller during the fourth quarter worth approximately $192,000. 82.33% of the stock is owned by institutional investors and hedge funds.
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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