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%.

COPYRIGHT VIOLATION NOTICE: “Herman Miller, Inc. (MLHR) Expected to Announce Earnings of $0.59 Per Share” was posted by Daily Political and is owned by of Daily Political. If you are viewing this article on another site, it was copied illegally and republished in violation of US & international trademark and copyright law. The correct version of this article can be viewed at https://www.dailypolitical.com/2017/11/18/herman-miller-inc-mlhr-expected-to-announce-earnings-of-0-59-per-share.html.

About Herman Miller

Get a free copy of the Zacks research report on Herman Miller (MLHR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Herman Miller (NASDAQ:MLHR)

Receive News & Ratings for Herman Miller Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Herman Miller Inc. and related companies with MarketBeat.com's FREE daily email newsletter.