HNI Corp (NYSE:HNI) – Analysts at Seaport Global Securities increased their Q2 2018 earnings per share (EPS) estimates for HNI in a research note issued on Monday, according to Zacks Investment Research. Seaport Global Securities analyst M. Mccall now forecasts that the business services provider will earn $0.57 per share for the quarter, up from their prior estimate of $0.55. Seaport Global Securities currently has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for HNI’s Q3 2018 earnings at $0.99 EPS.
HNI (NYSE:HNI) last announced its quarterly earnings data on Thursday, February 8th. The business services provider reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.05. HNI had a net margin of 4.13% and a return on equity of 17.64%. The business had revenue of $584.30 million for the quarter, compared to analyst estimates of $567.83 million. During the same period last year, the business earned $0.82 EPS. The company’s revenue was up .5% on a year-over-year basis.
Several other brokerages have also commented on HNI. Zacks Investment Research upgraded shares of HNI from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Raymond James Financial reiterated a “market perform” rating on shares of HNI in a research note on Tuesday, October 24th. Finally, Rowe lowered shares of HNI from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $42.00.
Shares of HNI (NYSE HNI) traded up $0.53 on Tuesday, hitting $39.13. 46,856 shares of the stock were exchanged, compared to its average volume of 203,941. HNI has a fifty-two week low of $31.16 and a fifty-two week high of $48.32. The firm has a market cap of $1,710.60, a price-to-earnings ratio of 20.00 and a beta of 1.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.00 and a quick ratio of 0.68.
The business also recently declared a quarterly dividend, which will be paid on Monday, March 5th. Investors of record on Monday, February 26th will be paid a dividend of $0.285 per share. The ex-dividend date is Friday, February 23rd. This represents a $1.14 annualized dividend and a yield of 2.91%. HNI’s dividend payout ratio is currently 56.16%.
In related news, Chairman Stanley A. Askren sold 6,112 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $33.44, for a total transaction of $204,385.28. Following the sale, the chairman now owns 218,163 shares of the company’s stock, valued at $7,295,370.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ronald V. Waters sold 5,000 shares of HNI stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $40.00, for a total transaction of $200,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 29,375 shares of company stock worth $1,027,081 over the last quarter. 5.16% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Xact Kapitalforvaltning AB purchased a new stake in HNI during the fourth quarter worth approximately $232,000. MetLife Investment Advisors LLC purchased a new position in shares of HNI in the fourth quarter valued at $1,863,000. Vident Investment Advisory LLC purchased a new position in shares of HNI in the fourth quarter valued at $267,000. Jane Street Group LLC bought a new position in HNI during the 4th quarter valued at $366,000. Finally, Two Sigma Investments LP bought a new position in HNI during the 4th quarter valued at $1,061,000. 70.77% of the stock is owned by hedge funds and other institutional investors.
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HNI Corporation is a provider of office furniture and hearth products. The Company’s office furniture products include panel-based and freestanding furniture systems, seating, storage and tables. The Company’s segments include office furniture and hearth products. The office furniture segment manufactures and markets a line of metal and wood commercial and home office furniture, which includes storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions, and panel systems and other related products.
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