HNI (NYSE:HNI) Updates FY 2024 Earnings Guidance

HNI (NYSE:HNI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 1.080- for the period, compared to the consensus estimate of 3.200. The company issued revenue guidance of -.

Analyst Ratings Changes

Several brokerages have recently commented on HNI. Benchmark upped their target price on HNI from $57.00 to $63.00 and gave the company a “buy” rating in a report on Friday, July 26th. StockNews.com lowered shares of HNI from a “strong-buy” rating to a “buy” rating in a research note on Sunday, October 13th.

HNI Trading Down 0.7 %

NYSE HNI traded down $0.37 on Wednesday, hitting $49.81. 162,824 shares of the stock were exchanged, compared to its average volume of 247,255. The company’s 50-day moving average price is $52.62 and its two-hundred day moving average price is $48.57. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 36.82, a P/E/G ratio of 1.39 and a beta of 0.84. HNI has a 52-week low of $33.26 and a 52-week high of $56.13. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.20 and a quick ratio of 0.73.

HNI (NYSE:HNI) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.06. The business had revenue of $672.20 million for the quarter, compared to the consensus estimate of $712.75 million. HNI had a return on equity of 19.15% and a net margin of 4.39%. HNI’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 earnings per share. Research analysts predict that HNI will post 3.17 EPS for the current year.

HNI Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Friday, August 23rd were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.65%. The ex-dividend date was Friday, August 23rd. HNI’s dividend payout ratio is currently 97.78%.

Insider Activity at HNI

In other news, CEO Jeffrey D. Lorenger sold 72,102 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $49.32, for a total value of $3,556,070.64. Following the transaction, the chief executive officer now directly owns 296,892 shares of the company’s stock, valued at approximately $14,642,713.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CEO Jeffrey D. Lorenger sold 72,102 shares of HNI stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $49.32, for a total transaction of $3,556,070.64. Following the completion of the sale, the chief executive officer now directly owns 296,892 shares in the company, valued at $14,642,713.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian Scott Smith sold 2,284 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $54.00, for a total value of $123,336.00. Following the completion of the transaction, the insider now owns 11,902 shares in the company, valued at $642,708. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,582 shares of company stock valued at $5,597,281. Corporate insiders own 3.36% of the company’s stock.

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.