Herman Miller, Inc. (MLHR) Expected to Announce Earnings of $0.58 Per Share
Analysts expect Herman Miller, Inc. (NASDAQ:MLHR) to announce $0.58 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Herman Miller’s earnings, with estimates ranging from $0.57 to $0.58. Herman Miller posted earnings of $0.60 per share in the same quarter last year, which suggests a negative year over year growth rate of 3.3%. The company is scheduled to report its next earnings report after the market closes on Wednesday, September 20th.
On average, analysts expect that Herman Miller will report full year earnings of $2.32 per share for the current year, with EPS estimates ranging from $2.25 to $2.39. For the next fiscal year, analysts anticipate that the company will report earnings of $2.63 per share, with EPS estimates ranging from $2.50 to $2.76. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Herman Miller.
Herman Miller (NASDAQ:MLHR) last released its earnings results on Wednesday, July 5th. The business services provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.09. Herman Miller had a return on equity of 22.94% and a net margin of 5.44%. The firm had revenue of $577.20 million for the quarter, compared to the consensus estimate of $583.53 million. During the same period in the prior year, the firm earned $0.56 EPS. The firm’s revenue was down .9% on a year-over-year basis.
A number of brokerages recently weighed in on MLHR. Zacks Investment Research cut shares of Herman Miller from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. Sidoti began coverage on shares of Herman Miller in a research report on Tuesday, June 27th. They issued a “buy” rating and a $38.00 price target for the company. Finally, BidaskClub raised shares of Herman Miller from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $38.00.
In related news, SVP Hezron T. Lopez sold 2,312 shares of the business’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $33.96, for a total value of $78,515.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew J. Lock sold 19,247 shares of the business’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $33.47, for a total transaction of $644,197.09. Following the completion of the sale, the insider now directly owns 24,354 shares of the company’s stock, valued at $815,128.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 123,535 shares of company stock valued at $4,136,309. 1.91% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in MLHR. Van Berkom & Associates Inc. raised its position in Herman Miller by 0.5% in the first quarter. Van Berkom & Associates Inc. now owns 1,249,601 shares of the business services provider’s stock worth $39,425,000 after buying an additional 6,670 shares in the last quarter. Forward Management LLC raised its position in Herman Miller by 3.1% in the first quarter. Forward Management LLC now owns 4,623 shares of the business services provider’s stock worth $146,000 after buying an additional 138 shares in the last quarter. Comerica Bank raised its position in Herman Miller by 224.5% in the first quarter. Comerica Bank now owns 144,519 shares of the business services provider’s stock worth $4,805,000 after buying an additional 99,985 shares in the last quarter. Bank of New York Mellon Corp raised its position in Herman Miller by 6.8% in the first quarter. Bank of New York Mellon Corp now owns 954,232 shares of the business services provider’s stock worth $30,107,000 after buying an additional 60,993 shares in the last quarter. Finally, Boston Partners acquired a new position in Herman Miller during the first quarter worth approximately $521,000. 84.10% of the stock is owned by hedge funds and other institutional investors.
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Herman Miller (NASDAQ MLHR) traded up 1.04% during trading on Friday, hitting $34.00. The company had a trading volume of 289,706 shares. The stock has a market capitalization of $2.03 billion, a price-to-earnings ratio of 16.59 and a beta of 1.44. Herman Miller has a 52-week low of $26.99 and a 52-week high of $36.46. The firm’s 50 day moving average is $33.40 and its 200-day moving average is $32.01.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Saturday, September 2nd will be given a $0.18 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This is a boost from Herman Miller’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 2.12%. Herman Miller’s payout ratio is 35.12%.
Herman Miller Company Profile
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