HNI (NYSE:HNI) Posts Quarterly Earnings Results, Beats Expectations By $0.19 EPS

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

HNI Trading Down 2.4 %

HNI traded down $1.05 on Tuesday, hitting $41.94. The company had a trading volume of 55,151 shares, compared to its average volume of 253,296. The company’s fifty day moving average price is $43.30 and its 200 day moving average price is $40.98. HNI has a 1 year low of $24.81 and a 1 year high of $45.47. The company has a current ratio of 1.16, a quick ratio of 0.73 and a debt-to-equity ratio of 0.57. The firm has a market cap of $1.98 billion, a P/E ratio of 41.23, a PEG ratio of 1.21 and a beta of 0.86.

HNI Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders 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 dividend yield of 3.05%. The ex-dividend date of this dividend was Friday, February 23rd. HNI’s dividend payout ratio is presently 125.49%.

Insiders Place Their Bets

In related news, Director Miguel M. Calado sold 2,500 shares of HNI stock in a transaction that occurred 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 sale, the director now owns 36,988 shares in the company, valued at approximately $1,590,114.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other HNI news, Director Miguel M. Calado sold 2,500 shares of HNI stock in a transaction dated Thursday, March 7th. The stock was 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 directly owns 36,988 shares of the company’s stock, valued at approximately $1,590,114.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mary A. Bell sold 2,898 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $43.13, for a total transaction of $124,990.74. Following the sale, the director now directly owns 76,183 shares in the company, valued at approximately $3,285,772.79. The disclosure for this sale can be found here. Insiders sold a total of 17,374 shares of company stock valued at $749,534 over the last 90 days. 3.36% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on HNI shares. StockNews.com cut shares of HNI from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 8th. Benchmark raised their price target on shares of HNI from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday.

HNI Company Profile

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.