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

Wall Street analysts forecast that Herman Miller, Inc. (NASDAQ:MLHR) will report earnings per share of $0.55 for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Herman Miller’s earnings. Herman Miller posted earnings per share of $0.56 in the same quarter last year, which would indicate a negative year over year growth rate of 1.8%. The firm is expected to report its next earnings results on Wednesday, June 28th.

On average, 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 fiscal year, analysts anticipate that the company will post earnings of $2.20 per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Herman Miller.

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

Several research firms have recently issued reports on MLHR. Zacks Investment Research lowered shares of Herman Miller from a “hold” rating to a “sell” rating in a research report on Thursday, January 5th. Raymond James Financial, Inc. raised shares of Herman Miller from an “underperform” rating to a “market perform” rating in a research report on Thursday, March 23rd. Finally, Cann lowered shares of Herman Miller from a “market perform” rating to an “underperform” rating in a research report on Tuesday, January 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $35.00.

Shares of Herman Miller (NASDAQ:MLHR) traded up 1.10% during midday trading on Thursday, reaching $32.15. 390,185 shares of the company’s stock traded hands. The stock has a 50 day moving average of $31.01 and a 200-day moving average of $31.10. The stock has a market cap of $1.92 billion, a P/E ratio of 14.82 and a beta of 1.45. Herman Miller has a 12 month low of $26.99 and a 12 month high of $36.46.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, July 15th. Investors of record on Saturday, June 3rd will be paid a dividend of $0.17 per share. 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 currently 30.09%.

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

Institutional investors have recently added to or reduced their stakes in the company. First Bank & Trust bought a new position in Herman Miller during the fourth quarter worth approximately $116,000. LS Investment Advisors LLC boosted its stake in shares of 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 worth $112,000 after buying an additional 266 shares during the period. Wheatland Advisors Inc. acquired a new stake in shares of Herman Miller during the fourth quarter worth about $219,000. Cipher Capital LP acquired a new stake in shares of Herman Miller during the fourth quarter worth about $253,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of 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 worth $304,000 after buying an additional 28 shares during the period. 82.71% of the stock is owned by institutional investors and hedge funds.

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