Herman Miller, Inc. to Post Q2 2018 Earnings of $0.58 Per Share, Seaport Global Securities Forecasts (MLHR)
Herman Miller, Inc. (NASDAQ:MLHR) – Investment analysts at Seaport Global Securities upped their Q2 2018 earnings per share (EPS) estimates for Herman Miller in a research note issued to investors on Thursday. Seaport Global Securities analyst M. Mccall now forecasts that the business services provider will post earnings per share of $0.58 for the quarter, up from their prior estimate of $0.55. Seaport Global Securities also issued estimates for Herman Miller’s Q3 2018 earnings at $0.47 EPS, FY2018 earnings at $2.30 EPS and FY2019 earnings at $2.55 EPS.
Herman Miller (NASDAQ:MLHR) last released its quarterly earnings data on Thursday, September 21st. The business services provider reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. The business had revenue of $580.30 million for the quarter, compared to analyst estimates of $578.27 million. Herman Miller had a return on equity of 22.02% and a net margin of 5.34%. Herman Miller’s revenue was down 3.1% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. TRADEMARK VIOLATION WARNING: This news story was originally posted by Daily Political and is the property of of Daily Political. If you are viewing this news story on another website, it was copied illegally and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://www.dailypolitical.com/2017/09/25/herman-miller-inc-to-post-q2-2018-earnings-of-0-58-per-share-seaport-global-securities-forecasts-mlhr.html.
Other equities analysts have also recently issued reports about the company. Zacks Investment Research upgraded Herman Miller from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Tuesday, July 11th. Sidoti started coverage on Herman Miller in a research report on Tuesday, June 27th. They set a “buy” rating and a $38.00 target price for the company. Finally, BidaskClub upgraded Herman Miller from a “sell” rating to a “hold” rating in a research report on Saturday, August 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. Herman Miller has an average rating of “Hold” and an average target price of $38.00.
Shares of Herman Miller (NASDAQ MLHR) opened at 34.25 on Monday. The company has a 50-day moving average price of $33.52 and a 200 day moving average price of $32.35. Herman Miller has a 1-year low of $26.99 and a 1-year high of $36.45. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 17.12 and a beta of 1.44.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Saturday, September 2nd will be issued a $0.18 dividend. This is a boost from Herman Miller’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Wednesday, August 30th. Herman Miller’s dividend payout ratio is presently 36.00%.
In other news, insider Gregory J. Bylsma sold 9,435 shares of the company’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $33.88, for a total value of $319,657.80. Following the completion of the transaction, the insider now directly owns 42,534 shares in the company, valued at approximately $1,441,051.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Hezron T. Lopez sold 2,312 shares of the company’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $33.96, for a total value of $78,515.52. The disclosure for this sale can be found here. Insiders sold a total of 137,535 shares of company stock valued at $4,623,509 over the last quarter. Company insiders own 1.91% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its holdings in shares of Herman Miller by 406.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 19,714 shares of the business services provider’s stock worth $599,000 after purchasing an additional 15,819 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Herman Miller by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 131,872 shares of the business services provider’s stock worth $4,009,000 after purchasing an additional 1,008 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Herman Miller in the 2nd quarter worth about $780,000. State Street Corp boosted its holdings in shares of Herman Miller by 3.5% in the 2nd quarter. State Street Corp now owns 2,038,500 shares of the business services provider’s stock worth $61,971,000 after purchasing an additional 68,974 shares in the last quarter. Finally, Gotham Asset Management LLC purchased a new position in shares of Herman Miller in the 2nd quarter worth about $473,000. Hedge funds and other institutional investors own 83.96% of the company’s stock.
Herman Miller Company Profile
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