Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Herman Miller (MLHR) Stock Price

Press coverage about Herman Miller (NASDAQ:MLHR) has trended somewhat positive recently, according to Accern Sentiment. Accern identifies positive and negative press coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Herman Miller earned a coverage optimism score of 0.22 on Accern’s scale. Accern also gave media stories about the business services provider an impact score of 46.0599430249431 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.

These are some of the news stories that may have impacted Accern’s rankings:

MLHR has been the subject of several recent analyst reports. Sidoti initiated coverage on shares of Herman Miller in a report on Tuesday, June 27th. They issued a “buy” rating and a $38.00 target price for the company. Zacks Investment Research cut shares of Herman Miller from a “buy” rating to a “hold” rating in a report on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Herman Miller has a consensus rating of “Hold” and a consensus target price of $38.00.

Shares of Herman Miller (MLHR) opened at 33.00 on Friday. Herman Miller has a 52-week low of $26.99 and a 52-week high of $36.46. The stock has a 50 day moving average of $33.22 and a 200-day moving average of $31.86. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 16.10 and a beta of 1.45.

Herman Miller (NASDAQ:MLHR) last announced its earnings results on Wednesday, July 5th. The business services provider reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.09. The company had revenue of $577.20 million for the quarter, compared to analysts’ expectations of $583.53 million. Herman Miller had a return on equity of 22.94% and a net margin of 5.44%. Herman Miller’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.56 earnings per share. On average, equities research analysts predict that Herman Miller will post $2.27 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Saturday, September 2nd will be given a dividend of $0.18 per share. This is a boost from Herman Miller’s previous quarterly dividend of $0.17. The ex-dividend date is Wednesday, August 30th. This represents a $0.72 annualized dividend and a dividend yield of 2.18%. Herman Miller’s payout ratio is presently 33.17%.

In other Herman Miller news, insider Andrew J. Lock sold 22,491 shares of the business’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $33.48, for a total value of $752,998.68. Following the transaction, the insider now owns 24,354 shares of the company’s stock, valued at $815,371.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Andrew J. Lock sold 19,247 shares of the business’s stock in a transaction on Tuesday, July 11th. The stock was sold at an average price of $33.47, for a total value of $644,197.09. Following the completion of the transaction, the insider now directly owns 24,354 shares in the company, valued at approximately $815,128.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 109,535 shares of company stock worth $3,678,089. 1.91% of the stock is owned by insiders.

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Herman Miller Company Profile

Insider Buying and Selling by Quarter for Herman Miller (NASDAQ:MLHR)

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