HNI Corp. (HNI) Issues FY16 Earnings Guidance
HNI Corp. (NYSE:HNI) updated its FY16 earnings guidance on Wednesday. The company provided EPS guidance of $2.60-2.70 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.55.
A number of equities research analysts have issued reports on the company. Zacks Investment Research cut HNI Corp. from a buy rating to a sell rating in a research report on Wednesday, September 21st. Raymond James Financial Inc. cut HNI Corp. from an outperform rating to a market perform rating in a research report on Tuesday, September 20th.
Shares of HNI Corp. (NYSE:HNI) traded up 1.59% during midday trading on Wednesday, reaching $38.25. The company’s stock had a trading volume of 263,619 shares. HNI Corp. has a 12 month low of $29.84 and a 12 month high of $56.96. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 15.22 and a beta of 1.50. The company has a 50-day moving average price of $45.40 and a 200-day moving average price of $46.53.
HNI Corp. (NYSE:HNI) last released its quarterly earnings results on Wednesday, October 19th. The company reported $0.80 EPS for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.03. The company had revenue of $584.60 million for the quarter, compared to analyst estimates of $583.70 million. HNI Corp. had a return on equity of 26.76% and a net margin of 5.06%. HNI Corp.’s revenue was down 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.93 earnings per share. Equities analysts expect that HNI Corp. will post $2.55 earnings per share for the current year.
In other news, Director Ronald V. Waters sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $44.70, for a total transaction of $223,500.00. Following the sale, the director now owns 36,230 shares of the company’s stock, valued at $1,619,481. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Stanley A. Askren sold 58,676 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $52.30, for a total value of $3,068,754.80. Following the sale, the chairman now directly owns 254,378 shares in the company, valued at approximately $13,303,969.40. The disclosure for this sale can be found here. Insiders own 5.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Paloma Partners Management Co acquired a new stake in HNI Corp. during the second quarter worth approximately $305,000. Cantab Capital Partners LLP acquired a new stake in HNI Corp. during the second quarter worth approximately $616,000. Zacks Investment Management acquired a new stake in HNI Corp. during the second quarter worth approximately $1,591,000. C M Bidwell & Associates Ltd. acquired a new stake in HNI Corp. during the second quarter worth approximately $299,000. Finally, Parametric Portfolio Associates LLC raised its stake in HNI Corp. by 2.5% in the second quarter. Parametric Portfolio Associates LLC now owns 83,330 shares of the company’s stock worth $3,874,000 after buying an additional 2,006 shares in the last quarter. 67.98% of the stock is currently owned by institutional investors.
HNI Corp. Company Profile
HNI Corporation is a provider of office furniture and hearth products. The Company manufactures and markets gas and wood burning fireplaces. It operates through two segments: office furniture and hearth products. Its office furniture segment manufactures and markets a range 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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