Zacks: Analysts Anticipate Herman Miller, Inc. (MLHR) Will Announce Earnings of $0.58 Per Share
Equities analysts expect that Herman Miller, Inc. (NASDAQ:MLHR) will post $0.58 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Herman Miller’s earnings. The lowest EPS estimate is $0.57 and the highest is $0.58. Herman Miller posted earnings per share of $0.60 during the same quarter last year, which suggests a negative year over year growth rate of 3.3%. The business is expected to report its next quarterly earnings report after the market closes on Wednesday, September 20th.
On average, analysts expect that Herman Miller will report full-year earnings of $2.32 per share for the current financial year, with EPS estimates ranging from $2.25 to $2.39. For the next year, analysts forecast that the company will report earnings of $2.63 per share, with EPS estimates ranging from $2.50 to $2.76. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that that provide coverage for Herman Miller.
Herman Miller (NASDAQ:MLHR) last released its earnings results on Wednesday, July 5th. The business services provider reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.09. The firm had revenue of $577.20 million for the quarter, compared to analysts’ expectations of $583.53 million. Herman Miller had a net margin of 5.44% and a return on equity of 22.94%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the company earned $0.56 earnings per share.
Several equities analysts recently issued reports on the company. Sidoti assumed coverage on Herman Miller in a research note on Tuesday, June 27th. They set a “buy” rating and a $38.00 price target on the stock. BidaskClub upgraded Herman Miller from a “sell” rating to a “hold” rating in a research note on Saturday, August 19th. Finally, Zacks Investment Research lowered Herman Miller from a “buy” rating to a “hold” rating in a research note on Tuesday, May 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $38.00.
In other Herman Miller news, insider Andrew J. Lock sold 19,247 shares of Herman Miller stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $33.47, for a total transaction of $644,197.09. Following the sale, the insider now directly owns 24,354 shares of the company’s stock, valued at $815,128.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew J. Lock sold 22,491 shares of Herman Miller stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $33.48, for a total value of $752,998.68. Following the sale, the insider now directly owns 24,354 shares in the company, valued at $815,371.92. The disclosure for this sale can be found here. Insiders have sold 123,535 shares of company stock worth $4,136,309 over the last 90 days. Corporate insiders own 1.91% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Meadow Creek Investment Management LLC boosted its holdings in Herman Miller by 5.1% during 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 purchasing an additional 168 shares in the last quarter. Riverhead Capital Management LLC boosted its holdings in Herman Miller by 67.9% during the second quarter. Riverhead Capital Management LLC now owns 3,694 shares of the business services provider’s stock valued at $112,000 after purchasing an additional 1,494 shares in the last quarter. First Bank & Trust boosted its holdings in Herman Miller by 4.1% during the second quarter. First Bank & Trust now owns 3,999 shares of the business services provider’s stock valued at $121,000 after purchasing an additional 158 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Herman Miller by 4.9% during 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 purchasing an additional 181 shares in the last quarter. Finally, Glen Harbor Capital Management LLC boosted its holdings in Herman Miller by 5.1% during 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 purchasing an additional 204 shares in the last quarter. 84.10% of the stock is currently owned by institutional investors.
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Herman Miller (NASDAQ:MLHR) traded down 0.74% on Friday, reaching $33.75. 255,791 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $33.37 and its 200 day moving average price is $32.08. The company has a market cap of $2.02 billion, a PE ratio of 16.46 and a beta of 1.44. Herman Miller has a 52-week low of $26.99 and a 52-week high of $36.45.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Saturday, September 2nd will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.13%. This is a positive change from Herman Miller’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Wednesday, August 30th. Herman Miller’s payout ratio is currently 35.12%.
About Herman Miller
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