Herman Miller (NASDAQ:MLHR) issued an update on its third quarter 2019 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.59-0.63 for the period. The company issued revenue guidance of $615-630 million, compared to the consensus revenue estimate of $604.3 million.
Shares of NASDAQ MLHR traded down $0.44 during mid-day trading on Wednesday, reaching $30.27. 593,615 shares of the company were exchanged, compared to its average volume of 385,340. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.00 and a current ratio of 1.42. The stock has a market cap of $1.80 billion, a PE ratio of 13.16 and a beta of 1.44. Herman Miller has a twelve month low of $29.95 and a twelve month high of $41.85.
Herman Miller (NASDAQ:MLHR) last posted its earnings results on Wednesday, September 19th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The company had revenue of $624.60 million during the quarter, compared to analysts’ expectations of $620.73 million. Herman Miller had a net margin of 5.40% and a return on equity of 22.22%. Herman Miller’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.57 EPS. As a group, analysts predict that Herman Miller will post 2.7 EPS for the current fiscal year.
MLHR has been the subject of several analyst reports. BidaskClub cut shares of Herman Miller from a sell rating to a strong sell rating in a research note on Friday, September 14th. Zacks Investment Research upgraded shares of Herman Miller from a hold rating to a buy rating and set a $44.00 price objective for the company in a research note on Tuesday, September 25th.
In other Herman Miller news, insider Gregory J. Bylsma sold 28,533 shares of Herman Miller stock in a transaction dated Wednesday, September 26th. The shares were sold at an average price of $38.25, for a total value of $1,091,387.25. Following the completion of the sale, the insider now owns 70,405 shares in the company, valued at approximately $2,692,991.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.05% of the stock is owned by insiders.
About Herman Miller
Herman Miller, Inc engages in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, home furnishings, and related services in the United States and internationally. The company provides modular systems under the Canvas Office Landscape, Locale, Public Office Landscape, Layout Studio, Action Office, Ethospace, Arras, and Resolve names; seating products under the Embody, Aeron, Mirra2, Setu, Say, Verus, Celle, Equa, Taper, and Ergon names; and storage products under the Meridian and Tu names.
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