Analysts predict that Herman Miller, Inc. (NASDAQ:MLHR) will report $606.90 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Herman Miller’s earnings, with the lowest sales estimate coming in at $604.80 million and the highest estimate coming in at $609.00 million. Herman Miller reported sales of $577.50 million during the same quarter last year, which indicates a positive year over year growth rate of 5.1%. The firm is expected to announce its next earnings results on Wednesday, December 20th.
On average, analysts expect that Herman Miller will report full year sales of $606.90 million for the current fiscal year. For the next year, analysts anticipate that the business will report sales of $2.45 billion per share. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Herman Miller.
Herman Miller (NASDAQ:MLHR) last posted its quarterly earnings data on Thursday, September 21st. The business services provider reported $0.57 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.57. The business had revenue of $580.30 million during the quarter, compared to the consensus estimate of $578.27 million. Herman Miller had a return on equity of 22.02% and a net margin of 5.34%. The company’s revenue was down 3.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 earnings per share.
Several research firms have issued reports on MLHR. Zacks Investment Research upgraded Herman Miller from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a report on Tuesday, September 26th. ValuEngine upgraded Herman Miller from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. Finally, BidaskClub upgraded Herman Miller from a “sell” rating to a “hold” rating in a report on Saturday, August 19th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $38.00.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Saturday, December 2nd will be issued a $0.18 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.14%. Herman Miller’s dividend payout ratio (DPR) is 36.00%.
In related news, SVP Hezron T. Lopez sold 5,353 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $34.85, for a total transaction of $186,552.05. Following the completion of the transaction, the senior vice president now owns 5,353 shares in the company, valued at approximately $186,552.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brian C. Walker sold 14,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $35.38, for a total value of $495,320.00. Following the transaction, the chief executive officer now owns 160,979 shares of the company’s stock, valued at approximately $5,695,437.02. The disclosure for this sale can be found here. Insiders have sold a total of 86,407 shares of company stock valued at $2,980,652 in the last 90 days. Insiders own 1.91% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Riverhead Capital Management LLC boosted its position in Herman Miller by 67.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,694 shares of the business services provider’s stock valued at $112,000 after purchasing an additional 1,494 shares during the period. First Bank & Trust boosted its position in Herman Miller by 4.1% during the 2nd quarter. First Bank & Trust now owns 3,999 shares of the business services provider’s stock valued at $121,000 after purchasing an additional 158 shares during the period. Public Employees Retirement System of Ohio boosted its position in Herman Miller by 4.9% during the 1st quarter. Public Employees Retirement System of Ohio now owns 3,895 shares of the business services provider’s stock valued at $123,000 after purchasing an additional 181 shares during the period. Sei Investments Co. boosted its position in Herman Miller by 0.6% during the 2nd quarter. Sei Investments Co. now owns 4,426 shares of the business services provider’s stock valued at $135,000 after purchasing an additional 26 shares during the period. Finally, LS Investment Advisors LLC boosted its position in Herman Miller by 17.5% during the 2nd quarter. LS Investment Advisors LLC now owns 4,802 shares of the business services provider’s stock valued at $146,000 after purchasing an additional 714 shares during the period. Institutional investors and hedge funds own 84.28% of the company’s stock.
About Herman Miller
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