HNI (NYSE:HNI) Posts Earnings Results, Beats Estimates By $0.18 EPS

HNI (NYSE:HNI) announced its earnings results on Thursday. The business services provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.61 by $0.18, Briefing.com reports. The company had revenue of $623.70 million for the quarter, compared to analyst estimates of $637.74 million. HNI had a return on equity of 19.15% and a net margin of 4.39%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.55 EPS.

HNI Stock Up 1.0 %

Shares of NYSE HNI traded up $0.56 during midday trading on Friday, hitting $54.50. 563,715 shares of the stock traded hands, compared to its average volume of 277,419. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.77 and a current ratio of 1.20. HNI has a one year low of $27.92 and a one year high of $54.77. The business has a 50 day moving average price of $45.93 and a two-hundred day moving average price of $43.99. The company has a market cap of $2.58 billion, a PE ratio of 40.37, a P/E/G ratio of 1.47 and a beta of 0.86.

HNI Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Shareholders of record on Friday, May 24th were issued a $0.33 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $1.32 annualized dividend and a yield of 2.42%. This is a positive change from HNI’s previous quarterly dividend of $0.32. HNI’s dividend payout ratio is presently 97.78%.

Analyst Upgrades and Downgrades

HNI has been the topic of a number of research analyst reports. StockNews.com upgraded HNI from a “buy” rating to a “strong-buy” rating in a report on Friday. Benchmark increased their target price on shares of HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday.

Insider Buying and Selling

In other HNI news, CFO Marshall H. Bridges sold 8,551 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $45.50, for a total transaction of $389,070.50. Following the completion of the sale, the chief financial officer now owns 76,674 shares in the company, valued at approximately $3,488,667. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Steven M. Bradford sold 11,237 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $48.35, for a total value of $543,308.95. Following the transaction, the vice president now owns 61,642 shares in the company, valued at $2,980,390.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Marshall H. Bridges sold 8,551 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $45.50, for a total value of $389,070.50. Following the completion of the sale, the chief financial officer now directly owns 76,674 shares of the company’s stock, valued at $3,488,667. The disclosure for this sale can be found here. Insiders have sold a total of 35,966 shares of company stock worth $1,685,119 in the last ninety days. Corporate insiders own 3.36% of the company’s stock.

HNI Company Profile

HNI Corporation, together with its subsidiaries, engages in the manufacture, sale, and marketing of workplace furnishings and residential building products primarily in the United States and Canada. The company operates through two segments, Workplace Furnishings and Residential Building Products. The Workplace Furnishings segment offers a range of commercial and home office furniture, including panel-based and freestanding furniture systems, seating, storage, benching, tables, architectural products, and ancillary and hospitality products, as well as social collaborative items under the HON, Allsteel, Beyond, Gunlocke, HBF, HBF Textiles, HNI India, Kimball, National, Etc., Interwoven, David Edward, Kimball Hospitality, and D'style brands.