MillerKnoll (NASDAQ:MLKN) Issues Q4 Earnings Guidance

MillerKnoll (NASDAQ:MLKN) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.49-0.57 for the period, compared to the consensus EPS estimate of $0.68. The company issued revenue guidance of $880-920 million, compared to the consensus revenue estimate of $961.48 million. MillerKnoll also updated its FY 2024 guidance to 1.900-1.980 EPS.

MillerKnoll Stock Performance

MillerKnoll stock opened at $24.76 on Friday. The firm has a 50 day simple moving average of $28.76 and a 200-day simple moving average of $26.09. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.56 and a quick ratio of 0.93. MillerKnoll has a 1-year low of $13.20 and a 1-year high of $31.33. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 36.41, a price-to-earnings-growth ratio of 1.23 and a beta of 1.31.

MillerKnoll (NASDAQ:MLKN) last posted its earnings results on Wednesday, March 27th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.01. MillerKnoll had a net margin of 1.96% and a return on equity of 9.55%. The firm had revenue of $872.30 million for the quarter, compared to the consensus estimate of $909.55 million. During the same period last year, the firm posted $0.54 EPS. The company’s revenue was down 11.4% on a year-over-year basis. On average, analysts expect that MillerKnoll will post 2.07 EPS for the current year.

MillerKnoll Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Saturday, March 2nd will be given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date is Thursday, February 29th. MillerKnoll’s payout ratio is currently 110.29%.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of MillerKnoll from a strong-buy rating to a buy rating in a report on Thursday.

Institutional Trading of MillerKnoll

Institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN increased its stake in MillerKnoll by 39.5% during the fourth quarter. Wells Fargo & Company MN now owns 5,817 shares of the company’s stock valued at $122,000 after purchasing an additional 1,647 shares during the last quarter. PNC Financial Services Group Inc. bought a new stake in MillerKnoll during the first quarter valued at $103,000. Advisor Group Holdings Inc. increased its stake in MillerKnoll by 23.2% during the fourth quarter. Advisor Group Holdings Inc. now owns 3,588 shares of the company’s stock valued at $75,000 after purchasing an additional 675 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of MillerKnoll during the fourth quarter worth about $69,000. Finally, Point72 Hong Kong Ltd bought a new position in shares of MillerKnoll during the first quarter worth about $58,000. 87.50% of the stock is owned by institutional investors and hedge funds.

About MillerKnoll

MillerKnoll, Inc researches, designs, manufactures, and distributes interior furnishings worldwide. It operates through three segments: Americas Contract, International Contract & Specialty, and Global Retail. The company also provides seating products, furniture systems, other freestanding furniture elements, textiles, leather, felt, home furnishings and related services, casegoods, storage products, as well as residential, education, and healthcare furniture solutions.