According to Zacks, “HNI Corporation provide products and solutions for the home and workplace environments. HNI is a leading global provider and designer of office furniture and the leading manufacturer and marketer of hearth products. HNI Corporation sell the broadest and deepest selection of quality office furniture solutions available to meet the needs of every customer through an extensive portfolio of well-known and trusted brands. HNI Corporation hearth products are the strongest, most respected brands in the industry and include a full array of gas, electric, wood and biomass burning fireplaces, inserts, stoves, facings and accessories. “
A number of other research analysts have also recently commented on HNI. Sidoti set a $45.00 price target on shares of HNI and gave the company a hold rating in a research report on Friday, May 31st. ValuEngine cut shares of HNI from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Finally, TheStreet cut shares of HNI from a b rating to a c+ rating in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. The company currently has a consensus rating of Hold and an average target price of $45.00.
HNI (NYSE:HNI) last issued its quarterly earnings results on Wednesday, July 24th. The business services provider reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.03). HNI had a net margin of 4.02% and a return on equity of 18.33%. The business had revenue of $526.00 million for the quarter, compared to the consensus estimate of $551.13 million. During the same quarter in the previous year, the business earned $0.44 earnings per share. The firm’s revenue was down 3.2% on a year-over-year basis. As a group, equities analysts expect that HNI will post 2.6 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Friday, August 16th will be given a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend is Thursday, August 15th. HNI’s payout ratio is currently 50.62%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. lifted its stake in HNI by 1.0% in the second quarter. BlackRock Inc. now owns 4,992,048 shares of the business services provider’s stock worth $176,618,000 after acquiring an additional 48,746 shares during the period. Frontier Capital Management Co. LLC lifted its stake in HNI by 1.1% in the first quarter. Frontier Capital Management Co. LLC now owns 1,078,418 shares of the business services provider’s stock worth $39,136,000 after acquiring an additional 11,495 shares during the period. Bank of New York Mellon Corp lifted its stake in HNI by 3.7% in the second quarter. Bank of New York Mellon Corp now owns 811,855 shares of the business services provider’s stock worth $28,724,000 after acquiring an additional 28,691 shares during the period. Northern Trust Corp lifted its stake in HNI by 1.7% in the second quarter. Northern Trust Corp now owns 727,111 shares of the business services provider’s stock worth $25,725,000 after acquiring an additional 12,353 shares during the period. Finally, Geode Capital Management LLC lifted its stake in HNI by 12.7% in the fourth quarter. Geode Capital Management LLC now owns 482,770 shares of the business services provider’s stock worth $17,103,000 after acquiring an additional 54,587 shares during the period. Institutional investors and hedge funds own 69.09% of the company’s stock.
HNI Company Profile
HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, Singapore, and Taiwan. Its Office Furniture segment offers a range of commercial and home office furniture, which include storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions and panel systems, and other related products under the HON, Allsteel, Maxon, Gunlocke, HBF, OFM, Lamex, and HNI India brands.
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