HNI (NYSE:HNI) Issues Quarterly Earnings Results

HNI (NYSE:HNI) released its quarterly earnings data on Monday. The business services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.18 by $0.19, Briefing.com reports. HNI had a return on equity of 16.97% and a net margin of 2.03%. The firm had revenue of $588.00 million during the quarter, compared to the consensus estimate of $574.56 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. The company’s quarterly revenue was up 22.7% on a year-over-year basis.

HNI Stock Down 2.2 %

Shares of HNI stock traded down $0.94 on Tuesday, hitting $42.05. The stock had a trading volume of 39,185 shares, compared to its average volume of 253,077. HNI has a 12-month low of $24.81 and a 12-month high of $45.47. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.16 and a quick ratio of 0.73. The business has a 50 day moving average of $43.30 and a 200 day moving average of $40.98. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 41.81, a price-to-earnings-growth ratio of 1.21 and a beta of 0.86.

HNI Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Monday, February 26th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Friday, February 23rd. HNI’s dividend payout ratio is 125.49%.

Insiders Place Their Bets

In related news, Director Larry B. Porcellato sold 2,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $44.00, for a total transaction of $88,000.00. Following the completion of the sale, the director now owns 40,718 shares in the company, valued at $1,791,592. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other HNI news, Director Larry B. Porcellato sold 2,000 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $44.00, for a total transaction of $88,000.00. Following the completion of the transaction, the director now owns 40,718 shares in the company, valued at $1,791,592. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Miguel M. Calado sold 2,500 shares of HNI stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $42.99, for a total value of $107,475.00. Following the completion of the transaction, the director now owns 36,988 shares of the company’s stock, valued at $1,590,114.12. The disclosure for this sale can be found here. Insiders have sold a total of 17,374 shares of company stock valued at $749,534 in the last 90 days. 3.36% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of HNI from a “strong-buy” rating to a “buy” rating in a report on Friday, March 8th.

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.