HNI (NYSE:HNI) Releases Quarterly Earnings Results, Beats Expectations By $0.13 EPS

HNI (NYSE:HNI) posted its quarterly earnings data on Thursday. The business services provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.13, Zacks reports. The business had revenue of $642.50 million during the quarter, compared to the consensus estimate of $657.03 million. HNI had a return on equity of 18.27% and a net margin of 5.52%.

HNI Trading Down 4.9 %

Shares of HNI stock opened at $46.72 on Friday. The company has a market capitalization of $2.23 billion, a P/E ratio of 16.17, a price-to-earnings-growth ratio of 1.14 and a beta of 0.90. The stock has a fifty day simple moving average of $49.83 and a 200 day simple moving average of $51.99. HNI has a 12-month low of $40.94 and a 12-month high of $58.42. The company has a current ratio of 1.10, a quick ratio of 0.68 and a debt-to-equity ratio of 0.36.

HNI Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be given a $0.33 dividend. The ex-dividend date is Monday, February 24th. This represents a $1.32 annualized dividend and a yield of 2.83%. HNI’s payout ratio is 45.67%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded HNI from a “strong-buy” rating to a “buy” rating in a research note on Friday.

Insider Buying and Selling

In other HNI news, insider Brian Scott Smith sold 556 shares of HNI stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $49.90, for a total value of $27,744.40. Following the sale, the insider now owns 14,394 shares of the company’s stock, valued at approximately $718,260.60. The trade was a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Larry B. Porcellato sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $56.95, for a total transaction of $113,900.00. Following the transaction, the director now directly owns 37,880 shares of the company’s stock, valued at $2,157,266. This represents a 5.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.36% of the stock is owned by corporate insiders.

About HNI

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.