Equities analysts forecast that Herman Miller, Inc. (NASDAQ:MLHR) will announce $662.35 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Herman Miller’s earnings. The lowest sales estimate is $662.10 million and the highest is $662.60 million. Herman Miller reported sales of $624.60 million in the same quarter last year, which suggests a positive year over year growth rate of 6%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, September 18th.
According to Zacks, analysts expect that Herman Miller will report full year sales of $2.69 billion for the current fiscal year, with estimates ranging from $2.68 billion to $2.71 billion. For the next fiscal year, analysts forecast that the firm will report sales of $2.80 billion, with estimates ranging from $2.80 billion to $2.81 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that cover Herman Miller.
Herman Miller (NASDAQ:MLHR) last posted its earnings results on Wednesday, June 26th. The business services provider reported $0.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.10. The business had revenue of $671.00 million during the quarter, compared to the consensus estimate of $657.23 million. Herman Miller had a return on equity of 25.20% and a net margin of 6.25%. Herman Miller’s revenue was up 8.6% on a year-over-year basis. During the same quarter last year, the company earned $0.66 EPS.
A number of equities analysts have recently issued reports on the stock. Sidoti lowered shares of Herman Miller from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 1st. They noted that the move was a valuation call. Raymond James set a C$1.00 price target on Orezone Gold and gave the stock an “outperform” rating in a report on Friday, June 28th. ValuEngine raised Zogenix from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 27th. Zacks Investment Research downgraded EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, BidaskClub downgraded Inovio Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, June 1st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $49.00.
Shares of MLHR traded down $0.27 during mid-day trading on Tuesday, reaching $44.88. 466,122 shares of the company’s stock were exchanged, compared to its average volume of 575,921. The company has a quick ratio of 1.07, a current ratio of 1.48 and a debt-to-equity ratio of 0.39. The stock has a market cap of $2.64 billion, a PE ratio of 15.11 and a beta of 1.63. The stock’s fifty day simple moving average is $40.81. Herman Miller has a 52-week low of $28.66 and a 52-week high of $45.67.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Saturday, June 1st were issued a $0.1975 dividend. This represents a $0.79 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Thursday, May 30th. Herman Miller’s dividend payout ratio (DPR) is currently 26.60%.
In other Herman Miller news, insider Gregory J. Bylsma sold 10,717 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $44.19, for a total value of $473,584.23. Following the completion of the sale, the insider now owns 21,181 shares of the company’s stock, valued at $935,988.39. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Jeffrey L. Kurburski sold 3,108 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were 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 disclosure for this sale can be found here. In the last three months, insiders sold 19,061 shares of company stock valued at $799,942. 1.05% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. First Hawaiian Bank acquired a new position in shares of Herman Miller during the 1st quarter worth $309,000. Squarepoint Ops LLC raised its stake in shares of Herman Miller by 33.9% during the 4th quarter. Squarepoint Ops LLC now owns 21,479 shares of the business services provider’s stock worth $650,000 after buying an additional 5,440 shares during the last quarter. Foundry Partners LLC raised its stake in shares of Herman Miller by 9.0% during the 1st quarter. Foundry Partners LLC now owns 182,114 shares of the business services provider’s stock worth $6,407,000 after buying an additional 15,002 shares during the last quarter. FMR LLC raised its stake in shares of Herman Miller by 18.2% during the 4th quarter. FMR LLC now owns 80,451 shares of the business services provider’s stock worth $2,434,000 after buying an additional 12,370 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Herman Miller by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 887,738 shares of the business services provider’s stock worth $26,853,000 after buying an additional 60,758 shares during the last quarter. 81.22% of the stock is owned by 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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