MillerKnoll (NASDAQ:MLKN) Issues FY 2024 Earnings Guidance

MillerKnoll (NASDAQ:MLKN) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 1.900-1.980 for the period, compared to the consensus earnings per share estimate of 2.070. The company issued revenue guidance of -. MillerKnoll also updated its Q4 guidance to $0.49-0.57 EPS.

MillerKnoll Stock Performance

Shares of MillerKnoll stock opened at $30.53 on Thursday. The stock’s fifty day moving average is $28.76 and its two-hundred day moving average is $26.10. The company has a market capitalization of $2.22 billion, a PE ratio of 44.90, a price-to-earnings-growth ratio of 1.21 and a beta of 1.31. The company has a quick ratio of 0.93, a current ratio of 1.56 and a debt-to-equity ratio of 0.90. MillerKnoll has a 52 week low of $13.20 and a 52 week high of $31.33.

MillerKnoll (NASDAQ:MLKN) last posted its quarterly earnings results on Wednesday, March 27th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. MillerKnoll had a return on equity of 10.06% and a net margin of 1.33%. The business had revenue of $872.30 million for the quarter, compared to the consensus estimate of $909.55 million. During the same quarter in the prior year, the company earned $0.54 EPS. The business’s revenue was down 11.4% compared to the same quarter last year. As a group, analysts expect that MillerKnoll will post 2.07 earnings per share for the current year.

MillerKnoll Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Saturday, March 2nd will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Thursday, February 29th. MillerKnoll’s payout ratio is 110.30%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised MillerKnoll from a buy rating to a strong-buy rating in a research report on Tuesday, March 19th.

Institutional Investors Weigh In On MillerKnoll

Institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE bought a new stake in MillerKnoll during the first quarter valued at about $36,000. Quarry LP bought a new stake in MillerKnoll during the second quarter valued at about $39,000. International Assets Investment Management LLC raised its stake in MillerKnoll by 1,117.6% in the fourth quarter. International Assets Investment Management LLC now owns 1,449 shares of the company’s stock valued at $39,000 after buying an additional 1,330 shares during the last quarter. Captrust Financial Advisors purchased a new stake in MillerKnoll in the first quarter valued at about $41,000. Finally, Tower Research Capital LLC TRC raised its stake in MillerKnoll by 428.8% in the first quarter. Tower Research Capital LLC TRC now owns 2,168 shares of the company’s stock valued at $44,000 after buying an additional 1,758 shares during the last quarter. Institutional investors own 87.50% of the company’s stock.

About MillerKnoll

MillerKnoll, Inc researches, designs, manufactures, and distributes interior furnishings worldwide. It operates through three segments: Americas Contract, International Contract & Specialty, and Global Retail. The company also provides seating products, furniture systems, other freestanding furniture elements, textiles, leather, felt, home furnishings and related services, casegoods, storage products, as well as residential, education, and healthcare furniture solutions.