HNI Corporation (NYSE:HNI) Raises Dividend to $0.35 Per Share

HNI Corporation (NYSE:HNI) declared a quarterly dividend on Monday, May 18th. Stockholders of record on Friday, May 29th will be paid a dividend of 0.35 per share by the business services provider on Wednesday, June 10th. This represents a c) annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Friday, May 29th. This is a 2.9% increase from HNI’s previous quarterly dividend of $0.34.

HNI has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 15 consecutive years. HNI has a payout ratio of 33.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect HNI to earn $4.94 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 27.5%.

HNI Stock Performance

Shares of NYSE:HNI opened at $30.25 on Tuesday. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 73.78, a price-to-earnings-growth ratio of 0.37 and a beta of 1.01. The company has a 50-day moving average price of $35.60 and a 200-day moving average price of $41.11. The company has a current ratio of 1.39, a quick ratio of 0.86 and a debt-to-equity ratio of 0.81. HNI has a 12 month low of $29.89 and a 12 month high of $53.29.

HNI (NYSE:HNI) last issued its quarterly earnings data on Wednesday, May 6th. The business services provider reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.37 billion. HNI had a net margin of 0.04% and a return on equity of 13.17%. The company’s quarterly revenue was up 124.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 earnings per share. As a group, equities analysts anticipate that HNI will post 4 EPS for the current year.

Wall Street Analysts Forecast Growth

HNI has been the subject of several recent analyst reports. Weiss Ratings downgraded shares of HNI from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Benchmark lowered their price objective on shares of HNI from $75.00 to $65.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Finally, Wall Street Zen downgraded shares of HNI from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.00.

HNI Company Profile

HNI Corporation, founded in 1944 as the Heating & Novelty Company and headquartered in Muscatine, Iowa, is a leading manufacturer of office furniture and hearth products. Over its history, the company has evolved from producing gas heaters into two primary business segments: Office Furniture and Hearth & Home. HNI’s Office Furniture division operates under well-known brands such as The HON Company, Allsteel, Gunlocke and Kimball, offering a comprehensive portfolio of workstations, seating, tables, storage solutions and acoustic products tailored for corporate, education, healthcare and government markets.

In its Hearth & Home segment, HNI designs, manufactures and distributes fireplaces, stoves, fireplace inserts, logs and related accessories.