MillerKnoll (NASDAQ:MLKN) Issues FY 2024 Earnings Guidance

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

MillerKnoll Price Performance

Shares of NASDAQ MLKN opened at $24.76 on Friday. MillerKnoll has a twelve month low of $13.20 and a twelve month high of $31.33. The company has a current ratio of 1.56, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 36.41, a price-to-earnings-growth ratio of 1.23 and a beta of 1.31. The business has a 50 day simple moving average of $28.76 and a 200-day simple moving average of $26.09.

MillerKnoll (NASDAQ:MLKN) last released its quarterly earnings data on Wednesday, March 27th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. MillerKnoll had a return on equity of 9.55% and a net margin of 1.96%. The business had revenue of $872.30 million during the quarter, compared to analyst estimates of $909.55 million. During the same quarter in the previous year, the firm posted $0.54 EPS. The business’s revenue for the quarter was down 11.4% compared to the same quarter last year. As a group, equities research analysts expect that MillerKnoll will post 2.07 earnings per share for the current year.

MillerKnoll Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Saturday, March 2nd will be issued a $0.1875 dividend. The ex-dividend date is Thursday, February 29th. This represents a $0.75 annualized dividend and a dividend yield of 3.03%. MillerKnoll’s dividend payout ratio (DPR) is 110.29%.

Analysts Set New Price Targets

Separately, StockNews.com lowered MillerKnoll from a strong-buy rating to a buy rating in a research report on Thursday.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN boosted its position in MillerKnoll by 39.5% during the fourth quarter. Wells Fargo & Company MN now owns 5,817 shares of the company’s stock valued at $122,000 after purchasing an additional 1,647 shares during the last quarter. PNC Financial Services Group Inc. acquired a new stake in shares of MillerKnoll in the first quarter valued at approximately $103,000. Advisor Group Holdings Inc. lifted its position in shares of MillerKnoll by 23.2% in the fourth quarter. Advisor Group Holdings Inc. now owns 3,588 shares of the company’s stock valued at $75,000 after buying an additional 675 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of MillerKnoll in the fourth quarter valued at approximately $69,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of MillerKnoll in the first quarter valued at approximately $58,000. 87.50% of the stock is owned by institutional investors and hedge funds.

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.