Herman Miller (MLHR) Issues Q3 Earnings Guidance
Herman Miller (NASDAQ:MLHR) updated its third quarter earnings guidance on Monday. The company provided EPS guidance of $0.48-0.52 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.50. The company issued revenue guidance of $565 -585 million, compared to the consensus revenue estimate of $573.30 million.
A number of research firms recently weighed in on MLHR. Zacks Investment Research raised Herman Miller from a hold rating to a buy rating and set a $44.00 target price on the stock in a research report on Friday, December 29th. Raymond James Financial raised Herman Miller from a market perform rating to an outperform rating and set a $43.00 target price on the stock in a research report on Tuesday, December 26th. ValuEngine raised Herman Miller from a hold rating to a buy rating in a research report on Friday, February 2nd. Finally, BidaskClub raised Herman Miller from a sell rating to a hold rating in a research report on Thursday, December 14th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $41.67.
Shares of Herman Miller (NASDAQ:MLHR) opened at $36.70 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 1.33. The firm has a market capitalization of $2,249.57, a P/E ratio of 17.37 and a beta of 1.34. Herman Miller has a 1-year low of $28.55 and a 1-year high of $41.85.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Shareholders of record on Saturday, March 3rd will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Thursday, March 1st. Herman Miller’s payout ratio is 35.64%.
In other Herman Miller news, VP Kevin J. Veltman sold 1,190 shares of Herman Miller stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $40.28, for a total transaction of $47,933.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Stephen C. Gane sold 30,988 shares of Herman Miller stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $39.77, for a total value of $1,232,392.76. The disclosure for this sale can be found here. Insiders have sold 65,580 shares of company stock worth $2,533,019 over the last ninety days. Company insiders own 1.91% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This piece of content was published by Daily Political and is the sole property of of Daily Political. If you are accessing this piece of content on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright laws. The original version of this piece of content can be accessed at https://www.dailypolitical.com/2018/02/07/herman-miller-mlhr-issues-q3-earnings-guidance.html.
Herman Miller Company Profile
Herman Miller, Inc is engaged in the research, design, manufacture, sale and distribution of office furniture systems, seating products, home furnishings and related services, among others. The Company’s segments include North American Furniture Solutions, which includes the design, manufacture and sale of furniture products for work-related settings, including office, education and healthcare environments, across the United States and Canada; EMEA, Latin America, and Asia Pacific (ELA) Furniture Solutions, which includes the operations associated with the design, manufacture, and sale of furniture products, primarily for work-related settings, in the Europe, Middle East and Africa (EMEA), Latin America and Asia-Pacific geographic regions, among others; Specialty segment, which includes the design, manufacture and sale of furniture products and textiles, and Consumer segment, which includes the sale of modern design furnishings and accessories to third-party retail distributors.
Receive News & Ratings for Herman Miller Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Herman Miller and related companies with MarketBeat.com's FREE daily email newsletter.