HNI (HNI) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

HNI (NYSE:HNI) released its earnings results on Thursday. The business services provider reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.05, Bloomberg Earnings reports. The firm had revenue of $584.30 million during the quarter, compared to analyst estimates of $567.83 million. HNI had a net margin of 3.08% and a return on equity of 21.09%. The business’s revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.82 EPS. HNI updated its Q1 guidance to $0.01-0.06 EPS and its FY18 guidance to $2.40-2.80 EPS.

HNI (NYSE HNI) traded up $2.42 during midday trading on Friday, reaching $37.65. 402,386 shares of the company were exchanged, compared to its average volume of 184,408. The company has a market capitalization of $1,529.94, a PE ratio of 25.10 and a beta of 1.44. HNI has a twelve month low of $31.16 and a twelve month high of $48.32. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.74 and a current ratio of 1.08.

HNI has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of HNI from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 26th. Rowe downgraded shares of HNI from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 24th. Finally, Raymond James Financial restated a “market perform” rating on shares of HNI in a report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $42.00.

In other HNI news, Chairman Stanley A. Askren sold 6,111 shares of the company’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $33.66, for a total transaction of $205,696.26. Following the sale, the chairman now directly owns 214,750 shares of the company’s stock, valued at $7,228,485. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ronald V. Waters sold 5,000 shares of the company’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $40.00, for a total transaction of $200,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 29,375 shares of company stock worth $1,027,081. 5.16% of the stock is currently owned by insiders.

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HNI Company Profile

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.

Earnings History for HNI (NYSE:HNI)

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