HNI (NYSE:HNI) Releases Earnings Results, Beats Estimates By $0.18 EPS

HNI (NYSE:HNI) announced its quarterly earnings results on Thursday. The business services provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.61 by $0.18, Briefing.com reports. HNI had a net margin of 4.39% and a return on equity of 19.15%. The firm had revenue of $623.70 million for the quarter, compared to analyst estimates of $637.74 million. During the same period last year, the business earned $0.55 EPS. HNI’s revenue for the quarter was up 10.7% compared to the same quarter last year.

HNI Stock Performance

NYSE HNI opened at $54.50 on Friday. The firm has a market cap of $2.58 billion, a P/E ratio of 40.37, a P/E/G ratio of 1.47 and a beta of 0.86. HNI has a 52-week low of $27.92 and a 52-week high of $54.77. The business’s 50-day moving average price is $45.93 and its 200 day moving average price is $43.99. The company has a quick ratio of 0.77, a current ratio of 1.20 and a debt-to-equity ratio of 0.53.

HNI Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.42%. This is a boost from HNI’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Thursday, May 23rd. HNI’s dividend payout ratio is presently 97.78%.

Insider Buying and Selling at HNI

In other HNI news, VP Steven M. Bradford sold 11,237 shares of HNI stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $48.35, for a total value of $543,308.95. Following the transaction, the vice president now directly owns 61,642 shares in the company, valued at approximately $2,980,390.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Marshall H. Bridges sold 8,551 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $45.50, for a total transaction of $389,070.50. Following the completion of the transaction, the chief financial officer now directly owns 76,674 shares of the company’s stock, valued at $3,488,667. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Steven M. Bradford sold 11,237 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $48.35, for a total transaction of $543,308.95. Following the completion of the sale, the vice president now owns 61,642 shares of the company’s stock, valued at approximately $2,980,390.70. The disclosure for this sale can be found here. Insiders sold a total of 35,966 shares of company stock valued at $1,685,119 in the last ninety days. Insiders own 3.36% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Benchmark lifted their target price on HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday. StockNews.com raised HNI from a “buy” rating to a “strong-buy” rating in a research report on Friday.

HNI Company Profile

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.