Wall Street analysts expect HNI Corp (NYSE:HNI) to announce $642.70 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for HNI’s earnings. The lowest sales estimate is $639.00 million and the highest is $646.40 million. HNI reported sales of $611.12 million in the same quarter last year, which indicates a positive year-over-year growth rate of 5.2%. The business is expected to announce its next earnings report after the market closes on Wednesday, October 23rd.
On average, analysts expect that HNI will report full year sales of $2.29 billion for the current financial year, with estimates ranging from $2.28 billion to $2.29 billion. For the next fiscal year, analysts expect that the company will report sales of $2.37 billion, with estimates ranging from $2.35 billion to $2.38 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for HNI.
HNI (NYSE:HNI) last posted its earnings results on Wednesday, July 24th. The business services provider reported $0.38 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.03). HNI had a net margin of 4.02% and a return on equity of 18.33%. The firm had revenue of $526.00 million during the quarter, compared to analyst estimates of $551.13 million. During the same period in the previous year, the company posted $0.44 EPS. HNI’s revenue for the quarter was down 3.2% compared to the same quarter last year.
Several equities analysts have recently commented on HNI shares. Zacks Investment Research raised HNI from a “sell” rating to a “hold” rating in a research report on Wednesday, September 25th. ValuEngine raised HNI from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a hold rating, HNI has a consensus rating of “Hold” and an average price target of $45.00.
In other news, CEO Jeffrey D. Lorenger sold 10,183 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $35.00, for a total value of $356,405.00. Following the transaction, the chief executive officer now owns 34,669 shares of the company’s stock, valued at $1,213,415. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.20% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of the stock. Oregon Public Employees Retirement Fund boosted its stake in shares of HNI by 2.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 17,594 shares of the business services provider’s stock valued at $622,000 after buying an additional 349 shares during the period. Alpha Windward LLC lifted its stake in HNI by 5.6% during the third quarter. Alpha Windward LLC now owns 13,620 shares of the business services provider’s stock worth $484,000 after purchasing an additional 720 shares during the last quarter. Strs Ohio lifted its stake in HNI by 3.4% during the second quarter. Strs Ohio now owns 27,100 shares of the business services provider’s stock worth $958,000 after purchasing an additional 900 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new stake in HNI during the second quarter worth $35,000. Finally, Panagora Asset Management Inc. bought a new stake in HNI during the second quarter worth $38,000. Institutional investors and hedge funds own 70.49% of the company’s stock.
Shares of HNI stock traded up $1.11 on Friday, hitting $35.81. The stock had a trading volume of 623 shares, compared to its average volume of 250,098. HNI has a twelve month low of $29.90 and a twelve month high of $42.23. The business’s 50 day moving average is $33.10 and its two-hundred day moving average is $34.60. The company has a quick ratio of 0.75, a current ratio of 1.21 and a debt-to-equity ratio of 0.54. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 14.85 and a beta of 1.24.
HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, Singapore, and Taiwan. Its Office Furniture segment offers a range of commercial and home office furniture, which include storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions and panel systems, and other related products under the HON, Allsteel, Maxon, Gunlocke, HBF, OFM, Lamex, and HNI India brands.
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