HNI Corporation (NYSE:HNI) Updates Q3 Earnings Guidance

HNI Corporation (NYSE:HNI) issued an update on its third quarter earnings guidance on Monday morning. The company provided EPS guidance of $0.76-0.86 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.82. The company issued revenue guidance of down 1-2% to ~$573-579 million, compared to the consensus revenue estimate of $584.63 million.HNI Corporation also updated its FY17 guidance to $2.35-2.55 EPS.

Shares of HNI Corporation (NYSE:HNI) traded up 0.40% during mid-day trading on Friday, reaching $35.05. The company’s stock had a trading volume of 245,644 shares. 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 price is $37.77 and its 200 day moving average price is $43.07. HNI Corporation has a 12-month low of $34.60 and a 12-month high of $56.96.

HNI Corporation (NYSE:HNI) last released its quarterly earnings results on Monday, July 24th. The business services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $514.50 million during the quarter, compared to analyst estimates of $516.10 million. HNI Corporation had a return on equity of 20.82% and a net margin of 2.94%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.68 EPS. On average, analysts expect that HNI Corporation will post $2.45 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $1.14 dividend on an annualized basis and a yield of 3.25%. HNI Corporation’s payout ratio is 81.43%.

A number of research firms recently weighed in on HNI. BidaskClub cut HNI Corporation from a sell rating to a strong sell rating in a report on Friday. Zacks Investment Research cut HNI Corporation from a hold rating to a sell rating in a report on Monday, April 24th. Finally, TheStreet cut HNI Corporation from a b- rating to a c+ rating in a report on Tuesday, June 20th. Three 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’s stock. The stock has a consensus rating of Hold and a consensus price target of $47.00.

In other HNI Corporation news, Chairman Stanley A. Askren sold 11,264 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $46.01, for a total transaction of $518,256.64. Following the completion of the sale, the chairman now directly owns 204,996 shares in the company, valued at approximately $9,431,865.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. 5.16% of the stock is currently owned by insiders.

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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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