HNI Corp (NYSE:HNI) declared a quarterly dividend on Tuesday, August 6th, RTT News reports. Stockholders of record on Friday, August 16th will be paid a dividend of 0.305 per share by the business services provider on Tuesday, September 3rd. This represents a $1.22 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend is Thursday, August 15th.
HNI has raised its dividend payment by an average of 3.8% annually over the last three years and has raised its dividend every year for the last 7 years. HNI has a payout ratio of 50.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect HNI to earn $2.91 per share next year, which means the company should continue to be able to cover its $1.22 annual dividend with an expected future payout ratio of 41.9%.
Shares of HNI stock opened at $31.31 on Wednesday. The firm has a 50-day simple moving average of $33.94. HNI has a 52 week low of $30.91 and a 52 week high of $44.79. The stock has a market capitalization of $1.38 billion, a P/E ratio of 12.99 and a beta of 1.22. The company has a quick ratio of 0.75, a current ratio of 1.21 and a debt-to-equity ratio of 0.54.
Several brokerages have recently commented on HNI. Zacks Investment Research upgraded HNI from a “sell” rating to a “hold” rating in a research report on Tuesday. ValuEngine downgraded HNI from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Sidoti set a $45.00 price objective on HNI and gave the stock a “hold” rating in a research note on Friday, May 31st. Finally, TheStreet cut HNI from a “b” rating to a “c+” rating in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. HNI presently has a consensus rating of “Hold” and an average price target of $45.00.
HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, Singapore, and Taiwan. Its Office Furniture segment offers a range of commercial and home office furniture, which include storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions and panel systems, and other related products under the HON, Allsteel, Maxon, Gunlocke, HBF, OFM, Lamex, and HNI India brands.
Featured Article: What is Blockchain?
Receive News & Ratings for HNI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HNI and related companies with MarketBeat.com's FREE daily email newsletter.