Equities research analysts predict that Herman Miller, Inc. (NASDAQ:MLHR) will report sales of $577.40 million for the current quarter, according to Zacks. Two analysts have made estimates for Herman Miller’s earnings, with the highest sales estimate coming in at $577.50 million and the lowest estimate coming in at $577.30 million. Herman Miller reported sales of $598.60 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 3.5%. The firm is expected to announce its next earnings report on Wednesday, September 20th.
On average, analysts expect that Herman Miller will report full year sales of $577.40 million for the current year, with estimates ranging from $2.31 billion to $2.33 billion. For the next financial year, analysts expect that the business will post sales of $2.42 billion per share, with estimates ranging from $2.41 billion to $2.44 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Herman Miller.
Herman Miller (NASDAQ:MLHR) last issued its quarterly earnings data on Wednesday, July 5th. The business services provider reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.09. Herman Miller had a net margin of 5.44% and a return on equity of 22.94%. The firm had revenue of $577.20 million for the quarter, compared to analyst estimates of $583.53 million. During the same quarter in the prior year, the firm earned $0.56 EPS. The company’s revenue was down .9% on a year-over-year basis.
Several analysts have recently weighed in on MLHR shares. Zacks Investment Research cut Herman Miller from a “buy” rating to a “hold” rating in a report on Tuesday, May 30th. Sidoti started coverage on Herman Miller in a report on Tuesday, June 27th. They set a “buy” rating and a $38.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $38.00.
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In other news, SVP Hezron T. Lopez sold 2,312 shares of the business’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $33.96, for a total transaction of $78,515.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Bruce Benedict Watson sold 8,925 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $33.85, for a total value of $302,111.25. Following the sale, the insider now owns 5,864 shares in the company, valued at $198,496.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 62,410 shares of company stock worth $2,097,480. Company insiders own 1.91% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in MLHR. Meadow Creek Investment Management LLC boosted its stake in Herman Miller by 5.1% in the first quarter. Meadow Creek Investment Management LLC now owns 3,444 shares of the business services provider’s stock valued at $109,000 after buying an additional 168 shares during the period. First Bank & Trust boosted its stake in Herman Miller by 13.2% in the first quarter. First Bank & Trust now owns 3,841 shares of the business services provider’s stock valued at $121,000 after buying an additional 448 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Herman Miller by 4.9% in the first quarter. Public Employees Retirement System of Ohio now owns 3,895 shares of the business services provider’s stock valued at $123,000 after buying an additional 181 shares during the period. Glen Harbor Capital Management LLC boosted its stake in Herman Miller by 5.1% in the first quarter. Glen Harbor Capital Management LLC now owns 4,182 shares of the business services provider’s stock valued at $132,000 after buying an additional 204 shares during the period. Finally, Sei Investments Co. boosted its stake in Herman Miller by 0.6% in the second quarter. Sei Investments Co. now owns 4,426 shares of the business services provider’s stock valued at $135,000 after buying an additional 26 shares during the period. Institutional investors own 84.47% of the company’s stock.
Shares of Herman Miller (MLHR) traded down 0.67% during midday trading on Friday, reaching $33.45. 279,848 shares of the company’s stock were exchanged. The stock has a market cap of $2.00 billion, a PE ratio of 16.32 and a beta of 1.44. Herman Miller has a 12 month low of $26.99 and a 12 month high of $36.46. The company’s 50 day moving average is $32.26 and its 200-day moving average is $31.67.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Saturday, September 2nd will be issued a dividend of $0.18 per share. This is a boost from Herman Miller’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Wednesday, August 30th. Herman Miller’s payout ratio is 33.17%.
About Herman Miller
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