HNI (NYSE:HNI) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

HNI (NYSE:HNI) released its earnings results on Tuesday. The business services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.05, Briefing.com reports. The business had revenue of $672.20 million for the quarter, compared to the consensus estimate of $712.75 million. HNI had a net margin of 4.83% and a return on equity of 19.29%. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 EPS. HNI updated its FY 2024 guidance to 1.080- EPS.

HNI Stock Up 2.4 %

NYSE:HNI traded up $1.17 during trading hours on Friday, hitting $50.45. 9,236 shares of the company’s stock traded hands, compared to its average volume of 247,800. HNI has a twelve month low of $36.72 and a twelve month high of $56.13. The firm has a market cap of $2.41 billion, a P/E ratio of 19.24, a P/E/G ratio of 1.41 and a beta of 0.84. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.73 and a current ratio of 1.09. The stock’s fifty day moving average price is $52.50 and its two-hundred day moving average price is $48.58.

HNI Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 23rd were given a $0.33 dividend. The ex-dividend date was Friday, August 23rd. This represents a $1.32 annualized dividend and a dividend yield of 2.62%. HNI’s dividend payout ratio (DPR) is presently 51.16%.

Insider Buying and Selling at HNI

In other HNI news, insider Brian Scott Smith sold 2,284 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total transaction of $123,336.00. Following the transaction, the insider now directly owns 11,902 shares of the company’s stock, valued at $642,708. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Brian Scott Smith sold 2,284 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total transaction of $123,336.00. Following the completion of the sale, the insider now directly owns 11,902 shares of the company’s stock, valued at approximately $642,708. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey D. Lorenger sold 72,102 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $49.32, for a total value of $3,556,070.64. Following the completion of the sale, the chief executive officer now directly owns 296,892 shares in the company, valued at approximately $14,642,713.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,582 shares of company stock valued at $5,597,281 in the last 90 days. 3.36% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HNI. StockNews.com upgraded HNI from a “buy” rating to a “strong-buy” rating in a report on Thursday. Benchmark lifted their price target on HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, July 26th.

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.