MillerKnoll (NASDAQ:MLKN) Updates Q4 Earnings Guidance

MillerKnoll (NASDAQ:MLKN) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.49-0.57 for the period, compared to the consensus earnings per share estimate of $0.68. The company issued revenue guidance of $880-920 million, compared to the consensus revenue estimate of $961.48 million. MillerKnoll also updated its FY 2024 guidance to 1.900-1.980 EPS.

Wall Street Analysts Forecast Growth

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

MillerKnoll Trading Down 18.9 %

Shares of NASDAQ MLKN opened at $24.76 on Friday. 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 stock’s 50 day moving average price is $28.76 and its two-hundred day moving average price is $26.09. The stock has a market capitalization of $1.80 billion, a P/E ratio of 36.41, a PEG ratio of 1.23 and a beta of 1.31. MillerKnoll has a 52-week low of $13.20 and a 52-week high of $31.33.

MillerKnoll (NASDAQ:MLKN) last announced its quarterly earnings results on Wednesday, March 27th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The business had revenue of $872.30 million for the quarter, compared to analysts’ expectations of $909.55 million. MillerKnoll had a return on equity of 9.55% and a net margin of 1.96%. The business’s quarterly revenue was down 11.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 EPS. On average, analysts anticipate that MillerKnoll will post 2.07 earnings per share for the current fiscal year.

MillerKnoll Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Saturday, March 2nd will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend is Thursday, February 29th. MillerKnoll’s payout ratio is 110.29%.

Hedge Funds Weigh In On MillerKnoll

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE bought a new position in MillerKnoll in the 1st quarter worth approximately $36,000. Quarry LP bought a new position in MillerKnoll in the 2nd quarter worth approximately $39,000. International Assets Investment Management LLC grew its holdings in MillerKnoll by 1,117.6% in the 4th quarter. International Assets Investment Management LLC now owns 1,449 shares of the company’s stock worth $39,000 after buying an additional 1,330 shares in the last quarter. Captrust Financial Advisors bought a new position in MillerKnoll in the 1st quarter worth approximately $41,000. Finally, Tower Research Capital LLC TRC boosted its stake in MillerKnoll by 428.8% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,168 shares of the company’s stock valued at $44,000 after purchasing an additional 1,758 shares in the last quarter. 87.50% of the stock is owned by institutional investors.

MillerKnoll Company Profile

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.