HNI (NYSE:HNI) Posts Earnings Results, Beats Estimates By $0.19 EPS

HNI (NYSE:HNI) posted its quarterly earnings data on Monday. The business services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.19, Briefing.com reports. The business had revenue of $588.00 million during the quarter, compared to analysts’ expectations of $574.56 million. HNI had a return on equity of 16.97% and a net margin of 2.03%. The firm’s revenue was up 22.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 EPS.

HNI Stock Performance

HNI stock traded down $1.05 during trading hours on Tuesday, hitting $41.94. The stock had a trading volume of 55,151 shares, compared to its average volume of 253,296. HNI has a fifty-two week low of $24.81 and a fifty-two week high of $45.47. The company has a market cap of $1.98 billion, a PE ratio of 41.23, a price-to-earnings-growth ratio of 1.21 and a beta of 0.86. The company has a 50-day moving average of $43.30 and a two-hundred day moving average of $40.98. The company has a quick ratio of 0.73, a current ratio of 1.16 and a debt-to-equity ratio of 0.57.

HNI Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Monday, February 26th were paid a dividend of $0.32 per share. The ex-dividend date was Friday, February 23rd. This represents a $1.28 annualized dividend and a yield of 3.05%. HNI’s dividend payout ratio is 125.49%.

Insider Activity at HNI

In other HNI news, Director Miguel M. Calado sold 2,500 shares of HNI stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $42.99, for a total transaction of $107,475.00. Following the sale, the director now owns 36,988 shares in the company, valued at $1,590,114.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Larry B. Porcellato sold 2,000 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $44.00, for a total value of $88,000.00. Following the sale, the director now owns 40,718 shares of the company’s stock, valued at approximately $1,791,592. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Miguel M. Calado sold 2,500 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $42.99, for a total value of $107,475.00. Following the completion of the sale, the director now owns 36,988 shares in the company, valued at $1,590,114.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,374 shares of company stock worth $749,534. 3.36% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on HNI shares. StockNews.com lowered HNI from a “strong-buy” rating to a “buy” rating in a report on Friday, March 8th. Benchmark upped their target price on shares of HNI from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday.

About HNI

HNI Corporation, together with its subsidiaries, engages in the manufacture, sale, and marketing of workplace furnishings and residential building products primarily in the United States and Canada. 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, benching, tables, architectural products, and ancillary and hospitality products, as well as social collaborative items under the HON, Allsteel, Beyond, Gunlocke, HBF, HBF Textiles, HNI India, Kimball, National, Etc., Interwoven, David Edward, Kimball Hospitality, and D'style brands.