$606.90 Million in Sales Expected for Herman Miller, Inc. (MLHR) This Quarter
Equities research analysts expect Herman Miller, Inc. (NASDAQ:MLHR) to report $606.90 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Herman Miller’s earnings, with the lowest sales estimate coming in at $604.80 million and the highest estimate coming in at $609.00 million. Herman Miller reported sales of $577.50 million in the same quarter last year, which indicates a positive year-over-year growth rate of 5.1%. The company is scheduled to report its next quarterly earnings results on Wednesday, December 20th.
On average, analysts expect that Herman Miller will report full-year sales of $606.90 million for the current fiscal year. For the next fiscal year, analysts expect that the company will post sales of $2.45 billion per share. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Herman Miller.
Herman Miller (NASDAQ:MLHR) last issued its quarterly earnings results on Thursday, September 21st. The business services provider reported $0.57 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.57. Herman Miller had a return on equity of 22.02% and a net margin of 5.34%. The business had revenue of $580.30 million for the quarter, compared to analyst estimates of $578.27 million. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The company’s revenue was down 3.1% on a year-over-year basis.
MLHR has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Herman Miller from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Tuesday, July 11th. BidaskClub raised Herman Miller from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. Finally, ValuEngine raised Herman Miller from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. Herman Miller has an average rating of “Hold” and an average target price of $38.00.
Shares of Herman Miller (NASDAQ MLHR) traded down $0.45 during mid-day trading on Monday, hitting $32.75. The stock had a trading volume of 322,877 shares, compared to its average volume of 273,966. Herman Miller has a 1-year low of $27.06 and a 1-year high of $37.00. The stock has a market capitalization of $1,957.73, a price-to-earnings ratio of 15.30 and a beta of 1.46. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.30 and a quick ratio of 0.86.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Saturday, December 2nd will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Thursday, November 30th. Herman Miller’s dividend payout ratio (DPR) is 36.00%.
COPYRIGHT VIOLATION NOTICE: “$606.90 Million in Sales Expected for Herman Miller, Inc. (MLHR) This Quarter” was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of United States and international trademark & copyright laws. The correct version of this piece of content can be read at https://www.thecerbatgem.com/2017/11/05/606-90-million-in-sales-expected-for-herman-miller-inc-mlhr-this-quarter.html.
In related news, SVP Stephen C. Gane sold 10,686 shares of Herman Miller stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $36.01, for a total transaction of $384,802.86. Following the completion of the sale, the senior vice president now owns 21,985 shares of the company’s stock, valued at $791,679.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian C. Walker sold 14,000 shares of Herman Miller stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $35.38, for a total value of $495,320.00. Following the sale, the chief executive officer now directly owns 160,979 shares of the company’s stock, valued at approximately $5,695,437.02. The disclosure for this sale can be found here. Insiders have sold 86,407 shares of company stock valued at $2,980,652 in the last ninety days. Corporate insiders own 1.91% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Sei Investments Co. lifted its holdings in Herman Miller by 0.6% in the second quarter. Sei Investments Co. now owns 4,426 shares of the business services provider’s stock valued at $135,000 after acquiring an additional 26 shares during the period. Ronald Blue & Co. LLC lifted its holdings in Herman Miller by 1.4% in the second quarter. Ronald Blue & Co. LLC now owns 6,787 shares of the business services provider’s stock valued at $206,000 after acquiring an additional 91 shares during the period. First Bank & Trust lifted its holdings in Herman Miller by 4.1% in the second quarter. First Bank & Trust now owns 3,999 shares of the business services provider’s stock valued at $121,000 after acquiring an additional 158 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Herman Miller by 4.9% in the first quarter. Public Employees Retirement System of Ohio now owns 3,895 shares of the business services provider’s stock valued at $123,000 after acquiring an additional 181 shares during the period. Finally, Alps Advisors Inc. lifted its holdings in Herman Miller by 1.5% in the second quarter. Alps Advisors Inc. now owns 17,470 shares of the business services provider’s stock valued at $531,000 after acquiring an additional 266 shares during the period. 84.28% of the stock is owned by institutional investors.
About Herman Miller
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for Herman Miller Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Herman Miller Inc. and related stocks with our FREE daily email newsletter.