Wall Street brokerages forecast that Herman Miller, Inc. (NASDAQ:MLHR) will post sales of $621.80 million 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 $619.60 million and the highest estimate coming in at $624.00 million. Herman Miller posted sales of $580.30 million during the same quarter last year, which would indicate a positive year over year growth rate of 7.2%. The business is expected to announce its next earnings report on Wednesday, September 19th.
On average, analysts expect that Herman Miller will report full-year sales of $2.52 billion for the current financial year, with estimates ranging from $2.52 billion to $2.53 billion. For the next year, analysts anticipate that the company will report sales of $2.62 billion per share, with estimates ranging from $2.62 billion to $2.63 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Herman Miller.
Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings data on Monday, July 2nd. The business services provider reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.08. Herman Miller had a return on equity of 21.71% and a net margin of 5.38%. The company had revenue of $618.00 million for the quarter, compared to analyst estimates of $601.10 million. During the same quarter last year, the firm earned $0.64 EPS. Herman Miller’s revenue for the quarter was up 7.1% compared to the same quarter last year.
In other Herman Miller news, CEO Brian C. Walker sold 18,000 shares of Herman Miller stock in a transaction on Friday, July 6th. The stock was sold at an average price of $38.49, for a total value of $692,820.00. Following the completion of the transaction, the chief executive officer now owns 2,701 shares in the company, valued at approximately $103,961.49. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian C. Walker sold 30,362 shares of Herman Miller stock in a transaction on Friday, July 13th. The shares were sold at an average price of $38.77, for a total value of $1,177,134.74. Following the completion of the transaction, the chief executive officer now owns 34,406 shares of the company’s stock, valued at approximately $1,333,920.62. The disclosure for this sale can be found here. Insiders have sold a total of 268,807 shares of company stock valued at $10,258,904 in the last 90 days. 1.91% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. NumerixS Investment Technologies Inc raised its position in Herman Miller by 17.1% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 9,600 shares of the business services provider’s stock valued at $325,000 after purchasing an additional 1,400 shares during the last quarter. Federated Investors Inc. PA raised its position in Herman Miller by 11.0% in the 2nd quarter. Federated Investors Inc. PA now owns 235,467 shares of the business services provider’s stock valued at $7,982,000 after purchasing an additional 23,370 shares during the last quarter. FMR LLC bought a new position in Herman Miller in the 2nd quarter valued at $1,920,000. Dimensional Fund Advisors LP raised its position in Herman Miller by 8.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,830,749 shares of the business services provider’s stock valued at $62,063,000 after purchasing an additional 143,622 shares during the last quarter. Finally, BlackRock Inc. raised its position in Herman Miller by 5.5% in the 2nd quarter. BlackRock Inc. now owns 6,934,391 shares of the business services provider’s stock valued at $235,074,000 after purchasing an additional 364,047 shares during the last quarter. Hedge funds and other institutional investors own 81.47% of the company’s stock.
Shares of NASDAQ:MLHR traded up $0.10 during trading on Friday, hitting $37.95. 154,487 shares of the stock were exchanged, compared to its average volume of 379,124. Herman Miller has a 1-year low of $29.95 and a 1-year high of $41.85. The firm has a market capitalization of $2.26 billion, a PE ratio of 16.50 and a beta of 1.46. The company has a current ratio of 1.56, a quick ratio of 1.17 and a debt-to-equity ratio of 0.41.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Saturday, September 1st will be given a dividend of $0.198 per share. This represents a $0.79 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Thursday, August 30th. This is an increase from Herman Miller’s previous quarterly dividend of $0.18. Herman Miller’s dividend payout ratio (DPR) is 31.30%.
Herman Miller Company Profile
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.
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