MillerKnoll (NASDAQ:MLKN) Issues Q4 2024 Earnings Guidance

MillerKnoll (NASDAQ:MLKN) updated its fourth quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.490-0.570 for the period, compared to the consensus estimate of 0.680. The company issued revenue guidance of $880.0 million-$920.0 million, compared to the consensus revenue estimate of $961.4 million. MillerKnoll also updated its FY 2024 guidance to 1.900-1.980 EPS.

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.

MillerKnoll Stock Performance

Shares of MLKN stock opened at $30.53 on Thursday. MillerKnoll has a 1-year low of $13.20 and a 1-year high of $31.33. The company has a current ratio of 1.56, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 44.90, a P/E/G ratio of 1.21 and a beta of 1.31. The stock’s fifty day simple moving average is $28.76 and its 200-day simple moving average is $26.10.

MillerKnoll (NASDAQ:MLKN) last announced its quarterly earnings results on Wednesday, March 27th. The company reported $0.45 earnings per share 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 company had revenue of $872.30 million during the quarter, compared to analysts’ expectations of $909.55 million. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The business’s quarterly revenue was down 11.4% compared to the same quarter last year. On average, sell-side analysts predict that MillerKnoll will post 2.07 earnings per share for the current fiscal year.

MillerKnoll Dividend Announcement

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

Hedge Funds Weigh In On MillerKnoll

Several large investors have recently made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of MillerKnoll during the 1st quarter worth about $288,708,000. Vanguard Group Inc. lifted its position in shares of MillerKnoll by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 7,277,077 shares of the company’s stock worth $113,523,000 after purchasing an additional 58,044 shares during the last quarter. State Street Corp lifted its position in shares of MillerKnoll by 2.6% during the 3rd quarter. State Street Corp now owns 2,511,435 shares of the company’s stock worth $39,644,000 after purchasing an additional 63,194 shares during the last quarter. Eaton Vance Management acquired a new position in MillerKnoll in the 1st quarter valued at approximately $81,726,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in MillerKnoll in the 1st quarter valued at approximately $68,747,000. Institutional investors and hedge funds 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.