MillerKnoll (NASDAQ:MLKN) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

MillerKnoll (NASDAQ:MLKNGet Free Report) announced its earnings results on Wednesday. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.01, Briefing.com reports. MillerKnoll had a net margin of 1.96% and a return on equity of 9.61%. The firm had revenue of $872.30 million for the quarter, compared to the consensus estimate of $909.55 million. During the same period in the prior year, the firm earned $0.54 EPS. The firm’s revenue for the quarter was down 11.4% on a year-over-year basis.

MillerKnoll Trading Down 18.9 %

Shares of NASDAQ:MLKN opened at $24.76 on Friday. MillerKnoll has a 52 week low of $13.20 and a 52 week high of $31.33. The company’s 50 day moving average is $28.75 and its two-hundred day moving average is $26.15. The company has a current ratio of 1.59, a quick ratio of 0.93 and a debt-to-equity ratio of 0.93. The company has a market cap of $1.80 billion, a PE ratio of 25.53, a P/E/G ratio of 1.06 and a beta of 1.31.

MillerKnoll Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Saturday, March 2nd will be given a $0.1875 dividend. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Thursday, February 29th. MillerKnoll’s dividend payout ratio is presently 77.32%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MLKN. Raymond James & Associates purchased a new position in shares of MillerKnoll in the 1st quarter valued at $3,686,000. American Century Companies Inc. purchased a new position in shares of MillerKnoll in the 1st quarter valued at $1,005,000. US Bancorp DE purchased a new position in shares of MillerKnoll in the 1st quarter valued at $36,000. HighTower Advisors LLC purchased a new position in shares of MillerKnoll in the 1st quarter valued at $570,000. Finally, Citigroup Inc. purchased a new position in shares of MillerKnoll in the 1st quarter valued at $315,000. 87.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

View Our Latest Analysis on MLKN

MillerKnoll Company Profile

(Get Free Report)

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.

Further Reading

Earnings History for MillerKnoll (NASDAQ:MLKN)

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