MillerKnoll (NASDAQ:MLKN) Posts Earnings Results, Beats Expectations By $0.01 EPS

MillerKnoll (NASDAQ:MLKN) announced its quarterly earnings results on Wednesday. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01, Briefing.com reports. The business had revenue of $872.30 million for the quarter, compared to analysts’ expectations of $909.55 million. MillerKnoll had a return on equity of 10.06% and a net margin of 1.33%. The business’s quarterly revenue was down 11.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 EPS.

MillerKnoll Stock Up 1.8 %

Shares of MLKN stock opened at $30.53 on Thursday. MillerKnoll has a 1 year low of $13.20 and a 1 year high of $31.33. The stock has a market cap of $2.22 billion, a PE ratio of 44.90, a price-to-earnings-growth ratio of 1.21 and a beta of 1.31. The business’s fifty day moving average is $28.76 and its 200-day moving average is $26.10. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.93 and a current ratio of 1.56.

MillerKnoll Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Saturday, March 2nd will be given a $0.1875 dividend. This represents a $0.75 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Thursday, February 29th. MillerKnoll’s dividend payout ratio is currently 110.30%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded MillerKnoll from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 19th.

Hedge Funds Weigh In On MillerKnoll

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of MillerKnoll during the 1st quarter valued at $288,708,000. Vanguard Group Inc. increased its position in shares of MillerKnoll by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 7,277,077 shares of the company’s stock valued at $113,523,000 after purchasing an additional 58,044 shares during the period. State Street Corp increased its position in shares of MillerKnoll by 2.6% during the 3rd quarter. State Street Corp now owns 2,511,435 shares of the company’s stock valued at $39,644,000 after purchasing an additional 63,194 shares during the period. Eaton Vance Management acquired a new position in shares of MillerKnoll during the 1st quarter valued at $81,726,000. Finally, Fuller & Thaler Asset Management Inc. acquired a new position in shares of MillerKnoll during the 1st quarter valued at $68,747,000. 87.50% of the stock is currently owned by institutional investors and hedge funds.

MillerKnoll Company Profile

MillerKnoll, Inc researches, designs, manufactures, and distributes interior furnishings worldwide. It operates through three segments: Americas Contract, International Contract & Specialty, and Global Retail. The company also provides seating products, furniture systems, other freestanding furniture elements, textiles, leather, felt, home furnishings and related services, casegoods, storage products, as well as residential, education, and healthcare furniture solutions.