Somewhat Positive Media Coverage Somewhat Unlikely to Affect Herman Miller (MLHR) Share Price
Press coverage about Herman Miller (NASDAQ:MLHR) has trended somewhat positive on Sunday, according to Accern. The research group identifies negative and positive media coverage by analyzing more than 20 million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Herman Miller earned a daily sentiment score of 0.09 on Accern’s scale. Accern also assigned news headlines about the business services provider an impact score of 47.2900862993676 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
Shares of Herman Miller (NASDAQ MLHR) traded up $0.15 on Friday, hitting $36.45. 508,636 shares of the company traded hands, compared to its average volume of 337,857. The company has a quick ratio of 0.89, a current ratio of 1.33 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $2,174.97, a P/E ratio of 18.04 and a beta of 1.34. Herman Miller has a fifty-two week low of $28.55 and a fifty-two week high of $41.85.
Herman Miller (NASDAQ:MLHR) last posted its quarterly earnings results on Wednesday, December 20th. The business services provider reported $0.57 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.57. The company had revenue of $604.60 million for the quarter, compared to the consensus estimate of $603.77 million. Herman Miller had a net margin of 5.36% and a return on equity of 21.85%. Herman Miller’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 earnings per share. equities research analysts expect that Herman Miller will post 2.35 earnings per share for the current fiscal year.
Several brokerages recently issued reports on MLHR. ValuEngine raised shares of Herman Miller from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. BidaskClub downgraded shares of Herman Miller from a “buy” rating to a “hold” rating in a research note on Saturday, January 6th. Zacks Investment Research downgraded shares of Herman Miller from a “buy” rating to a “hold” rating in a research note on Saturday, February 3rd. Finally, Raymond James Financial raised shares of Herman Miller from a “market perform” rating to an “outperform” rating and set a $43.00 price objective on the stock in a research note on Tuesday, December 26th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $41.67.
In other Herman Miller news, VP Kevin J. Veltman sold 1,190 shares of the stock in a transaction that occurred on Wednesday, January 3rd. The shares were 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 is available at this link. Also, SVP Stephen C. Gane sold 8,781 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $41.00, for a total transaction of $360,021.00. Following the transaction, the senior vice president now directly owns 2,536 shares in the company, valued at approximately $103,976. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,198 shares of company stock worth $2,099,710. 1.91% of the stock is currently owned by insiders.
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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.
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