HNI Co. (NYSE:HNI) Expected to Post Q2 2024 Earnings of $0.60 Per Share

HNI Co. (NYSE:HNI) – Analysts at Sidoti Csr dropped their Q2 2024 earnings estimates for HNI in a report released on Tuesday, April 30th. Sidoti Csr analyst G. Burns now anticipates that the business services provider will earn $0.60 per share for the quarter, down from their prior forecast of $0.63. The consensus estimate for HNI’s current full-year earnings is $2.93 per share. Sidoti Csr also issued estimates for HNI’s FY2024 earnings at $3.10 EPS, Q2 2025 earnings at $0.82 EPS, Q3 2025 earnings at $1.26 EPS and FY2025 earnings at $3.54 EPS.

HNI has been the subject of several other research reports. Benchmark lifted their price target on HNI from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday. StockNews.com downgraded shares of HNI from a “strong-buy” rating to a “buy” rating in a report on Friday, March 8th.

HNI Stock Performance

HNI opened at $41.92 on Wednesday. HNI has a 1 year low of $24.81 and a 1 year high of $45.47. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.29 and a quick ratio of 0.73. The firm has a fifty day moving average price of $43.27 and a 200 day moving average price of $41.02. The stock has a market cap of $1.98 billion, a P/E ratio of 31.05, a P/E/G ratio of 1.22 and a beta of 0.86.

HNI (NYSE:HNI) last announced its quarterly earnings results on Monday, April 29th. The business services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.19. HNI had a return on equity of 17.75% and a net margin of 2.57%. The company had revenue of $588.00 million for the quarter, compared to the consensus estimate of $574.56 million. During the same period last year, the firm earned $0.13 EPS. The firm’s revenue for the quarter was up 22.7% compared to the same quarter last year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in HNI in the fourth quarter worth approximately $1,347,000. Handelsbanken Fonder AB increased its holdings in HNI by 24.4% in the third quarter. Handelsbanken Fonder AB now owns 9,726 shares of the business services provider’s stock valued at $337,000 after buying an additional 1,910 shares during the last quarter. Vanguard Group Inc. lifted its holdings in HNI by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,276,579 shares of the business services provider’s stock worth $182,728,000 after buying an additional 36,988 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new position in shares of HNI during the 3rd quarter worth about $947,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of HNI by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 800,024 shares of the business services provider’s stock valued at $27,705,000 after acquiring an additional 30,475 shares during the last quarter. 75.26% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at HNI

In other HNI news, Director Larry B. Porcellato sold 2,000 shares of HNI stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $44.00, for a total transaction of $88,000.00. Following the completion of the sale, the director now directly owns 40,718 shares in the company, valued at $1,791,592. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Mary A. Bell sold 2,898 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $43.13, for a total transaction of $124,990.74. Following the sale, the director now owns 76,183 shares of the company’s stock, valued at $3,285,772.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Larry B. Porcellato sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $44.00, for a total transaction of $88,000.00. Following the sale, the director now directly owns 40,718 shares in the company, valued at $1,791,592. The disclosure for this sale can be found here. Insiders have sold 17,374 shares of company stock worth $749,534 over the last quarter. 3.36% of the stock is currently owned by company insiders.

HNI Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Monday, February 26th were paid a dividend of $0.32 per share. The ex-dividend date was Friday, February 23rd. This represents a $1.28 annualized dividend and a yield of 3.05%. HNI’s dividend payout ratio (DPR) is 94.81%.

HNI Company Profile

HNI Corporation, together with its subsidiaries, engages in the manufacture, sale, and marketing of workplace furnishings and residential building products primarily in the United States and Canada. The company operates through two segments, Workplace Furnishings and Residential Building Products. The Workplace Furnishings segment offers a range of commercial and home office furniture, including panel-based and freestanding furniture systems, seating, storage, benching, tables, architectural products, and ancillary and hospitality products, as well as social collaborative items under the HON, Allsteel, Beyond, Gunlocke, HBF, HBF Textiles, HNI India, Kimball, National, Etc., Interwoven, David Edward, Kimball Hospitality, and D'style brands.