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

HNI (NYSE:HNI) released its quarterly earnings data on Thursday. The business services provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.61 by $0.18, Briefing.com reports. The company had revenue of $623.70 million during the quarter, compared to the consensus estimate of $637.74 million. HNI had a return on equity of 19.15% and a net margin of 4.39%. HNI’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the company earned $0.55 EPS.

HNI Stock Performance

Shares of HNI traded up $0.56 on Friday, reaching $54.50. The company’s stock had a trading volume of 563,715 shares, compared to its average volume of 277,419. The stock’s 50 day simple moving average is $45.93 and its two-hundred day simple moving average is $43.99. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.20 and a quick ratio of 0.77. The stock has a market capitalization of $2.58 billion, a P/E ratio of 40.37, a PEG ratio of 1.47 and a beta of 0.86. HNI has a 12-month low of $27.92 and a 12-month high of $54.77.

HNI Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 12th. Stockholders of record on Friday, May 24th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.32 annualized dividend and a dividend 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 Ratings Changes

A number of brokerages have recently commented on HNI. StockNews.com upgraded shares of HNI from a “buy” rating to a “strong-buy” rating in a research note on Friday. Benchmark lifted their target price on shares of HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday.

Insider Buying and Selling at HNI

In other news, Director Larry B. Porcellato sold 1,796 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $46.00, for a total transaction of $82,616.00. Following the completion of the sale, the director now owns 39,100 shares of the company’s stock, valued at approximately $1,798,600. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Steven M. Bradford sold 11,237 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $48.35, for a total value of $543,308.95. Following the completion of the sale, the vice president now directly owns 61,642 shares of the company’s stock, valued at approximately $2,980,390.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Larry B. Porcellato sold 1,796 shares of HNI stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $46.00, for a total transaction of $82,616.00. Following the transaction, the director now directly owns 39,100 shares in the company, valued at approximately $1,798,600. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,966 shares of company stock valued at $1,685,119. 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.