HNI (NYSE:HNI) Announces Earnings Results

HNI (NYSE:HNIGet Rating) released its earnings results on Thursday. The business services provider reported $0.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.10, MarketWatch Earnings reports. The firm had revenue of $572.30 million for the quarter, compared to analysts’ expectations of $558.69 million. HNI had a return on equity of 11.57% and a net margin of 2.74%. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 earnings per share.

HNI traded down $1.74 during trading on Friday, hitting $35.64. The company’s stock had a trading volume of 285,567 shares, compared to its average volume of 198,332. HNI has a twelve month low of $34.53 and a twelve month high of $46.93. The company has a quick ratio of 0.68, a current ratio of 1.03 and a debt-to-equity ratio of 0.31. The stock’s fifty day moving average price is $37.48 and its 200-day moving average price is $39.80. The firm has a market capitalization of $1.51 billion, a P/E ratio of 26.60 and a beta of 0.93.

The firm also recently declared a quarterly dividend, which was paid on Monday, March 7th. Shareholders of record on Monday, February 28th were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.48%. The ex-dividend date was Friday, February 25th. HNI’s dividend payout ratio (DPR) is presently 92.54%.

In other news, Director Miguel M. Calado sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 16th. The stock was sold at an average price of $43.90, for a total transaction of $87,800.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Larry B. Porcellato sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, February 10th. The stock was sold at an average price of $41.30, for a total value of $61,950.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,000 shares of company stock worth $202,550. Insiders own 2.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HNI. Norges Bank purchased a new stake in HNI in the 4th quarter valued at $17,274,000. BlackRock Inc. raised its position in HNI by 1.4% in the 4th quarter. BlackRock Inc. now owns 6,952,909 shares of the business services provider’s stock valued at $292,369,000 after buying an additional 99,185 shares during the last quarter. Morgan Stanley raised its position in HNI by 61.9% in the 2nd quarter. Morgan Stanley now owns 184,433 shares of the business services provider’s stock valued at $8,109,000 after buying an additional 70,545 shares during the last quarter. State Street Corp raised its position in HNI by 2.9% in the 4th quarter. State Street Corp now owns 1,585,991 shares of the business services provider’s stock valued at $66,691,000 after buying an additional 44,517 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in HNI by 18.8% in the 4th quarter. Parametric Portfolio Associates LLC now owns 141,073 shares of the business services provider’s stock valued at $5,932,000 after buying an additional 22,286 shares during the last quarter. 70.66% of the stock is owned by institutional investors and hedge funds.

Several analysts recently commented on the company. StockNews.com assumed coverage on HNI in a report on Thursday, March 31st. They issued a “buy” rating on the stock. TheStreet lowered HNI from a “b” rating to a “c+” rating in a research note on Wednesday, March 16th.

About HNI (Get Rating)

HNI Corporation, together with its subsidiaries, manufactures and sells workplace furnishings and residential building products primarily in the United States. The company operates through two segments, Workplace Furnishings and Residential Building Products. The Workplace Furnishings segment offers a range of commercial and home office furniture, including panel-based and freestanding furniture systems, seating, storage, tables, and architectural products under the HON, Allsteel, Beyond, Gunlocke, Maxon, HBF, OFM, Respawn, Lamex, and HNI India brands.

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Earnings History for HNI (NYSE:HNI)

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