MillerKnoll (NASDAQ:MLKN) Releases FY 2024 Earnings Guidance

MillerKnoll (NASDAQ:MLKN) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.900-1.980 for the period, compared to the consensus estimate of 2.070. The company issued revenue guidance of -. MillerKnoll also updated its Q4 guidance to $0.49-0.57 EPS.

Analysts Set New Price Targets

Separately, StockNews.com upgraded MillerKnoll from a buy rating to a strong-buy rating in a research note on Tuesday, March 19th.

MillerKnoll Stock Up 1.8 %

Shares of MillerKnoll stock opened at $30.53 on Thursday. The company has a quick ratio of 0.93, a current ratio of 1.56 and a debt-to-equity ratio of 0.90. The firm has a market cap of $2.22 billion, a P/E ratio of 44.90, a P/E/G ratio of 1.21 and a beta of 1.31. MillerKnoll has a fifty-two week low of $13.20 and a fifty-two week high of $31.33. The business has a 50-day moving average price of $28.76 and a 200 day moving average price of $26.10.

MillerKnoll (NASDAQ:MLKN) last announced its quarterly earnings data on Wednesday, March 27th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. The firm had revenue of $872.30 million during the quarter, compared to analyst estimates of $909.55 million. MillerKnoll had a return on equity of 10.06% and a net margin of 1.33%. MillerKnoll’s quarterly revenue was down 11.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 earnings per share. On average, sell-side analysts forecast that MillerKnoll will post 2.07 earnings per share for the current fiscal year.

MillerKnoll Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Saturday, March 2nd will be issued a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Thursday, February 29th. MillerKnoll’s dividend payout ratio (DPR) is presently 110.30%.

Hedge Funds Weigh In On MillerKnoll

Several institutional investors have recently made changes to their positions in MLKN. Raymond James & Associates bought a new position in MillerKnoll in the 1st quarter worth approximately $3,686,000. American Century Companies Inc. bought a new position in MillerKnoll in the 1st quarter worth approximately $1,005,000. US Bancorp DE acquired a new stake in MillerKnoll in the first quarter worth approximately $36,000. HighTower Advisors LLC acquired a new stake in MillerKnoll in the first quarter worth approximately $570,000. Finally, Citigroup Inc. acquired a new stake in MillerKnoll in the first quarter worth approximately $315,000. 87.50% of the stock is owned by institutional investors.

About MillerKnoll

MillerKnoll, Inc researches, designs, manufactures, and distributes interior furnishings worldwide. It operates through three segments: Americas Contract, International Contract & Specialty, and Global Retail. The company also provides seating products, furniture systems, other freestanding furniture elements, textiles, leather, felt, home furnishings and related services, casegoods, storage products, as well as residential, education, and healthcare furniture solutions.