HNI Corporation (NYSE:HNI) announced a quarterly dividend on Tuesday, August 8th, RTT News reports. Investors of record on Friday, August 18th will be given a dividend of 0.285 per share by the business services provider on Friday, September 1st. This represents a $1.14 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Wednesday, August 16th.
HNI Corporation has raised its dividend payment by an average of 4.3% per year over the last three years and has increased its dividend every year for the last 5 years. HNI Corporation has a dividend payout ratio of 46.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect HNI Corporation to earn $2.96 per share next year, which means the company should continue to be able to cover its $1.14 annual dividend with an expected future payout ratio of 38.5%.
HNI Corporation (NYSE HNI) traded up 0.40% during midday trading on Friday, reaching $35.05. 245,644 shares of the company were exchanged. HNI Corporation has a one year low of $34.60 and a one year high of $56.96. The firm has a market cap of $1.54 billion, a P/E ratio of 25.18 and a beta of 1.41. The firm’s 50-day moving average is $37.77 and its 200-day moving average is $43.07.
HNI Corporation (NYSE:HNI) last announced its quarterly earnings results on Monday, July 24th. The business services provider reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The business had revenue of $514.50 million during the quarter, compared to the consensus estimate of $516.10 million. HNI Corporation had a net margin of 2.94% and a return on equity of 20.82%. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the firm earned $0.68 EPS. On average, equities analysts expect that HNI Corporation will post $2.45 EPS for the current fiscal year.
In other news, Chairman Stanley A. Askren sold 11,264 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $46.01, for a total value of $518,256.64. Following the sale, the chairman now owns 204,996 shares of the company’s stock, valued at approximately $9,431,865.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.16% of the stock is currently owned by corporate insiders.
Several brokerages have issued reports on HNI. BidaskClub lowered shares of HNI Corporation from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Zacks Investment Research lowered shares of HNI Corporation from a “hold” rating to a “sell” rating in a report on Monday, April 24th. Finally, TheStreet lowered shares of HNI Corporation from a “b-” rating to a “c+” rating in a report on Tuesday, June 20th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $47.00.
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HNI Corporation Company Profile
HNI Corporation is a provider of office furniture and hearth products. The Company’s office furniture products include panel-based and freestanding furniture systems, seating, storage and tables. The Company’s segments include office furniture and hearth products. The office furniture segment manufactures and markets a line of metal and wood commercial and home office furniture, which includes storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions, and panel systems and other related products.
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