Wall Street analysts expect Herman Miller, Inc. (NASDAQ:MLHR) to announce sales of $647.05 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Herman Miller’s earnings. The lowest sales estimate is $646.30 million and the highest is $647.80 million. Herman Miller posted sales of $604.60 million in the same quarter last year, which suggests a positive year-over-year growth rate of 7%. The business is scheduled to report its next earnings report after the market closes on Wednesday, December 19th.
According to Zacks, analysts expect that Herman Miller will report full year sales of $2.53 billion for the current financial year. For the next year, analysts forecast that the company will report sales of $2.64 billion, with estimates ranging from $2.63 billion to $2.65 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Herman Miller.
Herman Miller (NASDAQ:MLHR) last released its quarterly earnings results on Wednesday, September 19th. The business services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.04. Herman Miller had a return on equity of 22.22% and a net margin of 5.40%. The firm had revenue of $624.60 million for the quarter, compared to analysts’ expectations of $620.73 million. During the same period in the prior year, the firm earned $0.57 EPS. The company’s revenue was up 7.6% compared to the same quarter last year.
Herman Miller stock traded up $0.39 during trading on Thursday, reaching $33.86. The company had a trading volume of 398,036 shares, compared to its average volume of 276,563. Herman Miller has a 52 week low of $29.95 and a 52 week high of $41.85. The stock has a market cap of $2.01 billion, a P/E ratio of 14.72 and a beta of 1.44. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.00 and a current ratio of 1.42.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Saturday, December 1st will be issued a dividend of $0.1975 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.79 dividend on an annualized basis and a yield of 2.33%. Herman Miller’s dividend payout ratio is presently 34.35%.
In other Herman Miller news, insider Gregory J. Bylsma sold 28,533 shares of the firm’s stock in a transaction dated Wednesday, September 26th. The stock was sold at an average price of $38.25, for a total transaction of $1,091,387.25. Following the sale, the insider now directly owns 70,405 shares of the company’s stock, valued at $2,692,991.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.05% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of the business. Morgan Stanley grew its position in shares of Herman Miller by 124.1% during the third quarter. Morgan Stanley now owns 448,393 shares of the business services provider’s stock valued at $17,219,000 after purchasing an additional 248,308 shares in the last quarter. TIAA CREF Investment Management LLC grew its position in shares of Herman Miller by 6.6% during the third quarter. TIAA CREF Investment Management LLC now owns 179,302 shares of the business services provider’s stock valued at $6,885,000 after purchasing an additional 11,040 shares in the last quarter. Teachers Advisors LLC grew its position in shares of Herman Miller by 1.3% during the third quarter. Teachers Advisors LLC now owns 120,335 shares of the business services provider’s stock valued at $4,621,000 after purchasing an additional 1,586 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its position in shares of Herman Miller by 86.5% during the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 78,900 shares of the business services provider’s stock valued at $3,030,000 after purchasing an additional 36,600 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in shares of Herman Miller by 16.0% during the third quarter. AQR Capital Management LLC now owns 615,629 shares of the business services provider’s stock valued at $23,640,000 after purchasing an additional 84,698 shares in the last quarter. 82.42% of the stock is currently owned by institutional investors and hedge funds.
About Herman Miller
Herman Miller, Inc engages in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, home furnishings, and related services in the United States and internationally. The company provides modular systems under the Canvas Office Landscape, Locale, Public Office Landscape, Layout Studio, Action Office, Ethospace, Arras, and Resolve names; seating products under the Embody, Aeron, Mirra2, Setu, Say, Verus, Celle, Equa, Taper, and Ergon names; and storage products under the Meridian and Tu names.
See Also: What is a Stop Order?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Herman Miller Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Herman Miller and related companies with MarketBeat.com's FREE daily email newsletter.