MillerKnoll (NASDAQ:MLKN) Posts Earnings Results, Beats Estimates By $0.03 EPS

MillerKnoll (NASDAQ:MLKN) posted its quarterly earnings data on Wednesday. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.03, FiscalAI reports. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $973.87 million. MillerKnoll had a net margin of 0.28% and a return on equity of 10.11%.

MillerKnoll Trading Up 7.3%

Shares of NASDAQ MLKN traded up $1.18 during trading hours on Wednesday, reaching $17.24. The stock had a trading volume of 1,123,344 shares, compared to its average volume of 745,473. The business’s fifty day moving average price is $15.85 and its two-hundred day moving average price is $17.71. MillerKnoll has a 52-week low of $13.77 and a 52-week high of $23.18. The company has a current ratio of 1.64, a quick ratio of 0.92 and a debt-to-equity ratio of 0.96. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 123.14, a P/E/G ratio of 0.66 and a beta of 1.41.

MillerKnoll Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Saturday, May 30th will be given a dividend of $0.1875 per share. The ex-dividend date is Friday, May 29th. This represents a $0.75 annualized dividend and a dividend yield of 4.4%. MillerKnoll’s dividend payout ratio (DPR) is presently 535.71%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of MillerKnoll in a research report on Friday, April 24th. Zacks Research upgraded MillerKnoll from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, MillerKnoll has an average rating of “Hold”.

Institutional Investors Weigh In On MillerKnoll

Several large investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. grew its stake in MillerKnoll by 36.5% during the second quarter. Osaic Holdings Inc. now owns 1,941 shares of the company’s stock worth $38,000 after buying an additional 519 shares during the period. Johnson Financial Group Inc. purchased a new position in MillerKnoll in the third quarter valued at about $72,000. Canada Pension Plan Investment Board acquired a new position in shares of MillerKnoll in the 2nd quarter valued at approximately $82,000. Rexford Capital Inc. grew its position in shares of MillerKnoll by 17.0% during the fourth quarter. Rexford Capital Inc. now owns 5,500 shares of the company’s stock worth $101,000 after buying an additional 800 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in shares of MillerKnoll by 21.1% in the 4th quarter. Royal Bank of Canada now owns 6,446 shares of the company’s stock valued at $118,000 after acquiring an additional 1,123 shares during the last quarter. 87.50% of the stock is owned by hedge funds and other institutional investors.

MillerKnoll Company Profile

MillerKnoll, Inc (NASDAQ: MLKN) is a global design and manufacturing company specializing in furniture, lighting, textiles, rugs and accessories for residential and commercial environments. The company’s portfolio features well-known brands such as Herman Miller, Knoll, Maharam, Geiger and Tuyama, offering solutions for office, healthcare, education, hospitality and home settings. Products span seating, workstations, tables, storage systems and outdoor furnishings, complemented by a range of services including space planning, ergonomic consulting and installation support.

Formed in July 2021 through the merger of Herman Miller and Knoll, MillerKnoll combines more than a century of design heritage with a modern portfolio of sustainable products and materials.