Herman Miller, Inc. (MLHR) Expected to Announce Earnings of $0.59 Per Share
Analysts expect Herman Miller, Inc. (NASDAQ:MLHR) to report earnings per share (EPS) of $0.59 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Herman Miller’s earnings. The lowest EPS estimate is $0.58 and the highest is $0.59. Herman Miller reported earnings per share of $0.54 in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.3%. The business is expected to report its next quarterly earnings results on Wednesday, December 20th.
According to Zacks, analysts expect that Herman Miller will report full-year earnings of $2.32 per share for the current year, with EPS estimates ranging from $2.30 to $2.33. For the next fiscal year, analysts forecast that the firm will post earnings of $2.63 per share, with EPS estimates ranging from $2.55 to $2.71. Zacks’ earnings per share calculations are an average based on a survey of research analysts that cover Herman Miller.
Herman Miller (NASDAQ:MLHR) last posted its quarterly earnings data on Thursday, September 21st. The business services provider reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. The company had revenue of $580.30 million for the quarter, compared to the consensus estimate of $578.27 million. Herman Miller had a net margin of 5.34% and a return on equity of 22.02%. The firm’s revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 earnings per share.
MLHR has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Herman Miller from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. ValuEngine raised shares of Herman Miller from a “hold” rating to a “buy” rating in a report on Wednesday, September 27th. Finally, BidaskClub raised shares of Herman Miller from a “sell” rating to a “hold” rating in a 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 issued a buy rating to the stock. Herman Miller presently has a consensus rating of “Hold” and a consensus target price of $38.00.
In other Herman Miller news, CEO Brian C. Walker sold 14,000 shares of Herman Miller stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $32.73, for a total transaction of $458,220.00. Following the transaction, the chief executive officer now owns 160,979 shares of the company’s stock, valued at $5,268,842.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David O. Ulrich sold 13,382 shares of Herman Miller stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $32.38, for a total transaction of $433,309.16. Following the transaction, the director now directly owns 21,949 shares in the company, valued at approximately $710,708.62. The disclosure for this sale can be found here. Insiders have sold 99,789 shares of company stock worth $3,413,961 in the last ninety days. Insiders own 1.91% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Royce & Associates LP lifted its holdings in Herman Miller by 50.2% during the second quarter. Royce & Associates LP now owns 2,371,988 shares of the business services provider’s stock valued at $72,108,000 after purchasing an additional 793,188 shares in the last quarter. State Street Corp lifted its holdings in Herman Miller by 3.5% during the second quarter. State Street Corp now owns 2,038,500 shares of the business services provider’s stock valued at $61,971,000 after purchasing an additional 68,974 shares in the last quarter. LSV Asset Management lifted its holdings in Herman Miller by 15.1% during the second quarter. LSV Asset Management now owns 1,890,008 shares of the business services provider’s stock valued at $57,456,000 after purchasing an additional 247,300 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Herman Miller by 2.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,603,814 shares of the business services provider’s stock valued at $57,576,000 after purchasing an additional 40,467 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in Herman Miller by 31.8% during the third quarter. Prudential Financial Inc. now owns 1,556,300 shares of the business services provider’s stock valued at $55,871,000 after purchasing an additional 375,520 shares in the last quarter. 82.17% of the stock is currently owned by institutional investors and hedge funds.
Herman Miller (NASDAQ MLHR) traded down $0.25 on Friday, hitting $34.15. 234,546 shares of the company were exchanged, compared to its average volume of 275,821. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.86 and a current ratio of 1.30. The stock has a market capitalization of $2,030.00, a P/E ratio of 15.47 and a beta of 1.46. Herman Miller has a one year low of $28.55 and a one year high of $37.00.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Saturday, December 2nd will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Thursday, November 30th. Herman Miller’s payout ratio is 36.18%.
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