Zacks: Brokerages Anticipate Herman Miller, Inc. (MLHR) to Announce $0.55 Earnings Per Share

Brokerages expect Herman Miller, Inc. (NASDAQ:MLHR) to post earnings per share of $0.55 for the current quarter, according to Zacks. Two analysts have provided estimates for Herman Miller’s earnings. Herman Miller reported earnings per share of $0.56 during the same quarter last year, which suggests a negative year over year growth rate of 1.8%. The firm is expected to announce its next quarterly earnings results on Wednesday, June 28th.

According to Zacks, analysts expect that Herman Miller will report full year earnings of $2.08 per share for the current fiscal year, with EPS estimates ranging from $2.07 to $2.08. For the next year, analysts expect that the firm will report earnings of $2.20 per share. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Herman Miller.

Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings results on Wednesday, March 22nd. The business services provider reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07. The firm had revenue of $524.90 million for the quarter, compared to the consensus estimate of $530.50 million. Herman Miller had a net margin of 5.95% and a return on equity of 24.45%. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.46 EPS.

Several equities research analysts have commented on the company. Zacks Investment Research lowered Herman Miller from a “hold” rating to a “sell” rating in a research report on Thursday, January 5th. Raymond James Financial, Inc. upgraded Herman Miller from an “underperform” rating to a “market perform” rating in a research report on Thursday, March 23rd. Finally, Cann lowered Herman Miller from a “market perform” rating to an “underperform” rating in a research report on Tuesday, January 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $35.00.

In other Herman Miller news, insider Andrew J. Lock sold 908 shares of the company’s stock in a transaction that occurred on Thursday, March 30th. The stock was sold at an average price of $31.50, for a total value of $28,602.00. Following the sale, the insider now owns 29,029 shares in the company, valued at approximately $914,413.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Donald D. Goeman sold 4,111 shares of the company’s stock in a transaction that occurred on Tuesday, February 7th. The stock was sold at an average price of $31.41, for a total value of $129,126.51. Following the completion of the sale, the executive vice president now owns 7,029 shares in the company, valued at approximately $220,780.89. The disclosure for this sale can be found here. Corporate insiders own 1.91% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the company. First Bank & Trust bought a new stake in Herman Miller during the fourth quarter valued at approximately $116,000. LS Investment Advisors LLC raised its stake in Herman Miller by 7.3% in the third quarter. LS Investment Advisors LLC now owns 3,929 shares of the business services provider’s stock valued at $112,000 after buying an additional 266 shares in the last quarter. Wheatland Advisors Inc. bought a new stake in Herman Miller during the fourth quarter valued at approximately $219,000. Cipher Capital LP bought a new stake in Herman Miller during the fourth quarter valued at approximately $253,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Herman Miller by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 8,880 shares of the business services provider’s stock valued at $304,000 after buying an additional 28 shares in the last quarter. Institutional investors and hedge funds own 82.71% of the company’s stock.

Shares of Herman Miller (NASDAQ:MLHR) traded up 1.10% during mid-day trading on Thursday, hitting $32.15. 390,185 shares of the stock were exchanged. Herman Miller has a 12 month low of $26.99 and a 12 month high of $36.46. The stock has a market cap of $1.92 billion, a PE ratio of 14.82 and a beta of 1.45. The stock’s 50 day moving average is $31.01 and its 200-day moving average is $31.10.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Shareholders of record on Saturday, June 3rd will be given a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $0.68 annualized dividend and a yield of 2.12%. Herman Miller’s dividend payout ratio is presently 30.09%.

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