$573.30 Million in Sales Expected for Herman Miller, Inc. (MLHR) This Quarter
Wall Street brokerages forecast that Herman Miller, Inc. (NASDAQ:MLHR) will report sales of $573.30 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Herman Miller’s earnings, with estimates ranging from $571.30 million to $575.30 million. Herman Miller posted sales of $524.90 million in the same quarter last year, which suggests a positive year over year growth rate of 9.2%. The business is scheduled to announce its next earnings results after the market closes on Wednesday, March 21st.
According to Zacks, analysts expect that Herman Miller will report full year sales of $573.30 million for the current fiscal year. For the next year, analysts anticipate that the business will report sales of $2.46 billion per share. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Herman Miller.
Herman Miller (NASDAQ:MLHR) last issued its earnings results on Wednesday, December 20th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. Herman Miller had a net margin of 5.36% and a return on equity of 21.85%. The business had revenue of $604.60 million for the quarter, compared to analysts’ expectations of $603.77 million. During the same quarter in the previous year, the firm posted $0.54 EPS. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year.
In related news, CEO Brian C. Walker sold 90,003 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $36.27, for a total value of $3,264,408.81. Following the completion of the transaction, the chief executive officer now directly owns 226,389 shares in the company, valued at $8,211,129.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Kevin J. Veltman sold 1,190 shares of the company’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $40.28, for a total transaction of $47,933.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 142,202 shares of company stock worth $5,364,155. Insiders own 1.91% of the company’s stock.
A number of large investors have recently made changes to their positions in MLHR. Delpha Capital Management LLC purchased a new position in Herman Miller in the fourth quarter worth $160,000. Neuberger Berman Group LLC purchased a new position in Herman Miller in the third quarter worth $211,000. BerganKDV Wealth Management LLC purchased a new position in Herman Miller in the fourth quarter worth $213,000. BlueCrest Capital Management Ltd purchased a new position in Herman Miller in the fourth quarter worth $222,000. Finally, Ifrah Financial Services Inc. purchased a new position in Herman Miller in the fourth quarter worth $224,000. Institutional investors own 81.53% of the company’s stock.
Shares of Herman Miller (MLHR) opened at $36.75 on Friday. The stock has a market cap of $2,169.01, a price-to-earnings ratio of 16.75 and a beta of 1.41. Herman Miller has a 1-year low of $28.55 and a 1-year high of $41.85. The company has a current ratio of 1.33, a quick ratio of 0.89 and a debt-to-equity ratio of 0.32.
The company also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Saturday, March 3rd will be issued a $0.18 dividend. The ex-dividend date is Thursday, March 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.96%. Herman Miller’s payout ratio is currently 35.64%.
About Herman Miller
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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