Somewhat Positive News Coverage Somewhat Unlikely to Affect HNI Corporation (HNI) Share Price
Media stories about HNI Corporation (NYSE:HNI) have trended somewhat positive recently, according to Accern. The research firm ranks the sentiment of press coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. HNI Corporation earned a media sentiment score of 0.03 on Accern’s scale. Accern also gave headlines about the business services provider an impact score of 47.5912640479911 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Shares of HNI Corporation (NYSE:HNI) opened at 36.48 on Monday. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of 26.21 and a beta of 1.41. The firm has a 50-day moving average of $39.21 and a 200 day moving average of $44.32. HNI Corporation has a 52 week low of $35.55 and a 52 week high of $56.96.
HNI Corporation (NYSE:HNI) last released its quarterly earnings results on Monday, July 24th. The business services provider reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by $0.01. The company had revenue of $514.50 million during the quarter, compared to the consensus estimate of $516.10 million. HNI Corporation had a net margin of 2.94% and a return on equity of 20.82%. The business’s revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 EPS. On average, equities analysts predict that HNI Corporation will post $2.45 earnings per share for the current fiscal year.
A number of equities analysts have issued reports on HNI shares. Zacks Investment Research cut shares of HNI Corporation from a “hold” rating to a “sell” rating in a research note on Monday, April 10th. TheStreet lowered shares of HNI Corporation from a “b-” rating to a “c+” rating in a report on Tuesday, June 20th. Finally, BidaskClub lowered shares of HNI Corporation from a “hold” rating to a “sell” rating in a report on Saturday, June 17th. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $47.00.
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In related news, Chairman Stanley A. Askren sold 11,264 shares of HNI Corporation stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $46.01, for a total value of $518,256.64. Following the sale, the chairman now owns 204,996 shares in the company, valued at $9,431,865.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 5.16% of the company’s stock.
HNI Corporation 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.
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