HNI (NYSE:HNI) Posts Quarterly Earnings Results, Beats Expectations By $0.18 EPS

HNI (NYSE:HNI) issued 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 return on equity of 19.15% and a net margin of 4.39%. The firm had revenue of $623.70 million during the quarter, compared to analysts’ expectations of $637.74 million. During the same period in the previous year, the business earned $0.55 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis.

HNI Trading Up 1.0 %

Shares of HNI stock traded up $0.56 during trading hours on Friday, hitting $54.50. The company’s stock had a trading volume of 563,715 shares, compared to its average volume of 277,419. HNI has a twelve month low of $27.92 and a twelve month high of $54.77. The firm has a fifty day moving average of $45.93 and a 200-day moving average of $43.99. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 40.37, a P/E/G ratio of 1.47 and a beta of 0.86. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.77 and a current ratio of 1.20.

HNI Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HNI. StockNews.com raised HNI from a “buy” rating to a “strong-buy” rating in a research note on Friday. Benchmark boosted their price objective on HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday.

Insider Activity

In other news, Director Larry B. Porcellato sold 1,796 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $46.00, for a total value of $82,616.00. Following the transaction, the director now owns 39,100 shares of the company’s stock, valued at approximately $1,798,600. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Larry B. Porcellato sold 1,796 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $46.00, for a total value of $82,616.00. Following the sale, the director now owns 39,100 shares in the company, valued at approximately $1,798,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Donna D. Meade sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $45.97, for a total value of $459,700.00. Following the completion of the sale, the vice president now owns 32,308 shares in the company, valued at approximately $1,485,198.76. The disclosure for this sale can be found here. Insiders have sold a total of 35,966 shares of company stock valued at $1,685,119 in the last quarter. Insiders own 3.36% of the company’s stock.

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.