HNI Corporation (NYSE:HNI) Issues Q3 Earnings Guidance

HNI Corporation (NYSE:HNI) issued an update on its third quarter earnings guidance on Monday morning. The company provided EPS guidance of $0.76-0.86 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.82. The company issued revenue guidance of down 1-2% to ~$573-579 million, compared to the consensus revenue estimate of $584.63 million.HNI Corporation also updated its FY17 guidance to $2.35-2.55 EPS.

Shares of HNI Corporation (NYSE:HNI) opened at 35.05 on Friday. HNI Corporation has a 12 month low of $34.60 and a 12 month high of $56.96. The company has a market capitalization of $1.54 billion, a P/E ratio of 25.18 and a beta of 1.41. The company’s 50 day moving average price is $37.77 and its 200 day moving average price is $43.07.

HNI Corporation (NYSE:HNI) last announced its quarterly earnings data on Monday, July 24th. The business services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $514.50 million for the quarter, compared to analysts’ expectations of $516.10 million. HNI Corporation had a net margin of 2.94% and a return on equity of 20.82%. HNI Corporation’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the firm earned $0.68 earnings per share. Analysts expect that HNI Corporation will post $2.45 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Wednesday, August 16th. HNI Corporation’s dividend payout ratio (DPR) is presently 81.43%.

A number of research analysts recently issued reports on HNI shares. Zacks Investment Research downgraded shares of HNI Corporation from a hold rating to a sell rating in a research report on Monday, April 24th. BidaskClub downgraded shares of HNI Corporation from a hold rating to a sell rating in a research report on Saturday, June 17th. Finally, TheStreet downgraded shares of HNI Corporation from a b- rating to a c+ rating in a research report on Tuesday, June 20th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. HNI Corporation presently has an average rating of Hold and an average price target of $47.00.

In other HNI Corporation news, Chairman Stanley A. Askren sold 11,264 shares of the company’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $46.01, for a total value of $518,256.64. Following the completion of the transaction, the chairman now owns 204,996 shares in the company, valued at $9,431,865.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 5.16% of the company’s stock.

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About HNI Corporation

HNI Corporation is a provider of office furniture and hearth products. The Company’s office furniture products include panel-based and freestanding furniture systems, seating, storage and tables. The Company’s segments include office furniture and hearth products. The office furniture segment manufactures and markets a line of metal and wood commercial and home office furniture, which includes storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions, and panel systems and other related products.

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