Zacks: Analysts Expect HNI Corp (HNI) Will Announce Quarterly Sales of $495.50 Million

Analysts expect that HNI Corp (NYSE:HNI) will post $495.50 million in sales for the current quarter, according to Zacks Investment Research. 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 reported sales of $477.67 million during the same quarter last year, which would suggest a positive year over year growth rate of 3.7%. The business is expected to announce its next earnings report on Wednesday, April 18th.

According to Zacks, analysts expect that HNI will report full-year sales of $495.50 million for the current financial year. For the next financial year, analysts expect that the company 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 averages are a mean average based on a survey of analysts that that provide coverage for HNI.

HNI (NYSE:HNI) last issued its earnings results on Thursday, February 8th. The business services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.42 by $0.05. The company had revenue of $584.30 million for the quarter, compared to analyst estimates of $567.83 million. HNI had a net margin of 4.13% and a return on equity of 17.64%. The business’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 EPS.

Several brokerages have commented on HNI. ValuEngine lowered shares of HNI from a “hold” rating to a “sell” rating in a research report on Monday. Seaport Global Securities restated a “neutral” rating on shares of HNI in a research report on Monday, February 12th. Finally, Zacks Investment Research upgraded shares of HNI from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $42.00.

Shares of NYSE HNI traded down $1.04 during trading on Friday, hitting $36.02. 145,816 shares of the company were exchanged, compared to its average volume of 186,202. The firm has a market capitalization of $1,588.87, a P/E ratio of 18.65 and a beta of 1.36. HNI has a 1 year low of $31.16 and a 1 year high of $48.32. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.68 and a current ratio of 1.00.

In related news, Director Ronald V. Waters sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $40.00, for a total value of $200,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Stanley A. Askren sold 25,212 shares of the business’s stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $38.95, for a total transaction of $982,007.40. The disclosure for this sale can be found here. Insiders sold a total of 93,305 shares of company stock worth $3,513,487 over the last quarter. Insiders own 5.16% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB purchased a new position in HNI in the 4th quarter valued at about $232,000. Crossmark Global Holdings Inc. purchased a new position in HNI in the 4th quarter valued at about $239,000. Two Sigma Advisers LP purchased a new position in HNI in the 4th quarter valued at about $257,000. Vident Investment Advisory LLC purchased a new position in HNI in the 4th quarter valued at about $267,000. Finally, Jane Street Group LLC purchased a new position in HNI in the 4th quarter valued at about $366,000. Institutional investors and hedge funds own 72.81% of the company’s stock.

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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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