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

HNI (NYSE:HNI) released its quarterly earnings results on Monday. The business services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.19, Briefing.com reports. HNI had a return on equity of 17.75% and a net margin of 2.57%. The company had revenue of $588.00 million for the quarter, compared to analyst estimates of $574.56 million. During the same period in the previous year, the company posted $0.13 earnings per share. The firm’s revenue was up 22.7% on a year-over-year basis.

HNI Trading Down 2.5 %

HNI stock opened at $41.92 on Wednesday. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 31.05, a price-to-earnings-growth ratio of 1.22 and a beta of 0.86. The company has a current ratio of 1.29, a quick ratio of 0.73 and a debt-to-equity ratio of 0.61. HNI has a 12 month low of $24.81 and a 12 month high of $45.47. The business’s fifty day simple moving average is $43.27 and its two-hundred day simple moving average is $41.02.

HNI Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Monday, February 26th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend was Friday, February 23rd. HNI’s dividend payout ratio (DPR) is 94.81%.

Insider Activity

In other news, Director Miguel M. Calado sold 2,500 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $42.99, for a total transaction of $107,475.00. Following the transaction, the director now directly owns 36,988 shares of the company’s stock, valued at $1,590,114.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Miguel M. Calado sold 2,500 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $42.99, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Vincent P. Berger sold 9,976 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $43.01, for a total value of $429,067.76. Following the sale, the executive vice president now owns 67,025 shares of the company’s stock, valued at approximately $2,882,745.25. The disclosure for this sale can be found here. Insiders have sold a total of 17,374 shares of company stock valued at $749,534 over the last ninety days. 3.36% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. StockNews.com lowered HNI from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 8th. Benchmark boosted their target price on HNI from $50.00 to $54.00 and gave the stock a “buy” rating in a report 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.