HNI (NYSE:HNI) Updates FY 2024 Earnings Guidance

HNI (NYSE:HNI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 1.080- for the period, compared to the consensus earnings per share estimate of 3.200. The company issued revenue guidance of -.

HNI Price Performance

Shares of NYSE HNI traded down $0.31 during mid-day trading on Thursday, reaching $49.32. The company had a trading volume of 381,812 shares, compared to its average volume of 248,944. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.73 and a current ratio of 1.20. HNI has a one year low of $33.26 and a one year high of $56.13. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 36.62, a PEG ratio of 1.39 and a beta of 0.84. The business’s 50-day simple moving average is $52.56 and its 200 day simple moving average is $48.58.

HNI (NYSE:HNI) last released its earnings results on Tuesday, October 29th. The business services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.06. HNI had a return on equity of 19.15% and a net margin of 4.39%. The firm had revenue of $672.20 million for the quarter, compared to analysts’ expectations of $712.75 million. During the same quarter in the previous year, the business posted $0.93 earnings per share. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, research analysts predict that HNI will post 3.17 earnings per share for the current fiscal year.

HNI Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 23rd were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date was Friday, August 23rd. HNI’s dividend payout ratio is presently 97.78%.

Analyst Ratings Changes

HNI has been the topic of a number of recent analyst reports. StockNews.com cut HNI from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 13th. Benchmark lifted their target price on HNI from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, July 26th.

Insider Activity

In other news, insider Brian Scott Smith sold 2,284 shares of HNI stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $54.00, for a total transaction of $123,336.00. Following the sale, the insider now directly owns 11,902 shares of the company’s stock, valued at approximately $642,708. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Miguel M. Calado sold 5,299 shares of HNI stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $52.96, for a total value of $280,635.04. Following the transaction, the director now directly owns 31,159 shares of the company’s stock, valued at $1,650,180.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian Scott Smith sold 2,284 shares of HNI stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $54.00, for a total value of $123,336.00. Following the completion of the transaction, the insider now directly owns 11,902 shares in the company, valued at approximately $642,708. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,582 shares of company stock valued at $5,597,281. 3.36% of the stock is currently owned by corporate insiders.

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.