HNI (NYSE:HNI) Announces Earnings Results, Beats Estimates By $0.05 EPS

HNI (NYSE:HNI) released its quarterly earnings results on Tuesday. The business services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.05, Briefing.com reports. HNI had a net margin of 4.83% and a return on equity of 19.29%. The firm had revenue of $672.20 million for the quarter, compared to analysts’ expectations of $712.75 million. During the same period in the prior year, the firm earned $0.93 EPS. The business’s revenue was down 5.5% on a year-over-year basis. HNI updated its FY 2024 guidance to 1.080- EPS.

HNI Stock Performance

Shares of HNI stock opened at $49.32 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.09 and a quick ratio of 0.73. HNI has a one year low of $33.26 and a one year high of $56.13. The business has a 50-day simple moving average of $52.56 and a 200 day simple moving average of $48.58. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 1.41 and a beta of 0.84.

HNI Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 23rd were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend was Friday, August 23rd. HNI’s dividend payout ratio (DPR) is 51.16%.

Analyst Ratings Changes

HNI has been the topic of a number of recent research reports. StockNews.com raised shares of HNI from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Benchmark boosted their price target on HNI from $57.00 to $63.00 and gave the company a “buy” rating in a research note on Friday, July 26th.

Insider Buying and Selling

In other news, CEO Jeffrey D. Lorenger sold 72,102 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was 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 owns 296,892 shares in the company, valued at $14,642,713.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Miguel M. Calado sold 5,299 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $52.96, for a total value of $280,635.04. Following the transaction, the director now owns 31,159 shares in the company, valued at $1,650,180.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey D. Lorenger sold 72,102 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 296,892 shares of the company’s stock, valued at $14,642,713.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,582 shares of company stock worth $5,597,281 in the last ninety days. Corporate 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.