$608.25 Million in Sales Expected for HNI Corp (HNI) This Quarter
Brokerages expect HNI Corp (NYSE:HNI) to post $608.25 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for HNI’s earnings. The highest sales estimate is $609.50 million and the lowest is $607.00 million. HNI reported sales of $584.28 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.1%. The business is scheduled to issue its next quarterly earnings report on Thursday, February 14th.
According to Zacks, analysts expect that HNI will report full-year sales of $2.27 billion for the current financial year. For the next fiscal year, analysts expect that the business will post sales of $2.37 billion, with estimates ranging from $2.36 billion to $2.37 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover HNI.
HNI (NYSE:HNI) last released its quarterly earnings results on Monday, October 22nd. The business services provider reported $0.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.86 by $0.04. HNI had a net margin of 4.23% and a return on equity of 16.11%. The business had revenue of $611.10 million during the quarter, compared to analyst estimates of $618.27 million. During the same period in the prior year, the firm posted $0.82 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis.
In other news, Director Stanley A. Askren sold 23,660 shares of the business’s stock in a transaction that occurred on Monday, November 26th. The stock was sold at an average price of $37.62, for a total value of $890,089.20. Following the transaction, the director now owns 256,356 shares of the company’s stock, valued at $9,644,112.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Stanley A. Askren sold 54,591 shares of the company’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $37.90, for a total value of $2,068,998.90. Following the transaction, the director now directly owns 287,287 shares in the company, valued at approximately $10,888,177.30. The disclosure for this sale can be found here. 4.90% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of the business. Honkamp Krueger Financial Services Inc. purchased a new stake in shares of HNI in the third quarter valued at $192,000. Tower Research Capital LLC TRC grew its stake in HNI by 198.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,417 shares of the business services provider’s stock valued at $195,000 after purchasing an additional 2,935 shares in the last quarter. Ibex Investors LLC acquired a new stake in HNI during the 3rd quarter valued at approximately $205,000. Engineers Gate Manager LP acquired a new stake in HNI during the 3rd quarter valued at approximately $208,000. Finally, First Midwest Bank Trust Division acquired a new stake in HNI during the 3rd quarter valued at approximately $221,000. 71.41% of the stock is currently owned by institutional investors.
NYSE:HNI traded down $0.06 during midday trading on Friday, hitting $39.58. The company’s stock had a trading volume of 101,300 shares, compared to its average volume of 210,913. HNI has a fifty-two week low of $32.55 and a fifty-two week high of $45.40. The company has a current ratio of 1.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.45. The company has a market cap of $1.73 billion, a PE ratio of 20.13 and a beta of 1.37.
HNI Company Profile
HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, and Taiwan. The company's Office Furniture segment offers a range of metal and wood 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, basyx by HON, Lamex, and HNI India brands.
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