$495.50 Million in Sales Expected for HNI Corp (HNI) This Quarter

Analysts predict that HNI Corp (NYSE:HNI) will announce sales of $495.50 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for HNI’s earnings. The lowest sales estimate is $495.30 million and the highest is $495.70 million. HNI posted sales of $477.67 million in the same quarter last year, which suggests a positive year over year growth rate of 3.7%. The company is scheduled to report its next earnings report on Wednesday, April 18th.

On average, analysts expect that HNI will report full year sales of $495.50 million for the current financial year. For the next fiscal year, analysts forecast that the business will post sales of $2.33 billion per share, with estimates ranging from $2.33 billion to $2.34 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for HNI.

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HNI (NYSE:HNI) last released its quarterly earnings results on Thursday, February 8th. The business services provider reported $0.47 earnings per share (EPS) for the quarter, topping 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 company had revenue of $584.30 million during the quarter, compared to the consensus estimate of $567.83 million. During the same period in the prior year, the firm earned $0.82 earnings per share. HNI’s revenue was up .5% on a year-over-year basis.

A number of equities analysts have weighed in on HNI shares. Zacks Investment Research raised shares of HNI from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Seaport Global Securities reaffirmed a “neutral” rating on shares of HNI in a research note on Monday, February 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. HNI has a consensus rating of “Hold” and a consensus price target of $42.00.

In other news, Chairman Stanley A. Askren sold 25,212 shares of the stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $38.95, for a total transaction of $982,007.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ronald V. Waters sold 5,000 shares of the stock in a transaction that occurred on Tuesday, January 16th. The shares were 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. 5.16% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of HNI. New York State Common Retirement Fund grew its holdings in shares of HNI by 51.8% during the third quarter. New York State Common Retirement Fund now owns 71,200 shares of the business services provider’s stock valued at $2,953,000 after buying an additional 24,300 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of HNI by 8.9% during the third quarter. Rhumbline Advisers now owns 95,340 shares of the business services provider’s stock valued at $3,954,000 after buying an additional 7,783 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of HNI by 5,066.3% during the third quarter. Russell Investments Group Ltd. now owns 240,441 shares of the business services provider’s stock valued at $9,972,000 after buying an additional 235,787 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of HNI by 18.6% during the third quarter. SG Americas Securities LLC now owns 16,463 shares of the business services provider’s stock valued at $683,000 after buying an additional 2,586 shares during the last quarter. Finally, Systematic Financial Management LP grew its holdings in shares of HNI by 1.2% during the third quarter. Systematic Financial Management LP now owns 149,799 shares of the business services provider’s stock valued at $6,212,000 after buying an additional 1,790 shares during the last quarter. Hedge funds and other institutional investors own 72.81% of the company’s stock.

Shares of HNI stock traded up $0.59 during midday trading on Thursday, hitting $39.41. 298,251 shares of the company’s stock were exchanged, compared to its average volume of 151,484. HNI has a fifty-two week low of $31.16 and a fifty-two week high of $48.32. The company has a market capitalization of $1,704.32, a P/E ratio of 20.01 and a beta of 1.42. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 0.47.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 5th. Shareholders of record on Monday, February 26th were paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date was Friday, February 23rd. HNI’s dividend payout ratio is 56.16%.

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About HNI

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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