HNI Corporation (NYSE:HNI) issued an update on its third quarter earnings guidance on Monday morning. The company provided EPS guidance of $0.76-0.86 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.82. The company issued revenue guidance of down 1-2% to ~$573-579 million, compared to the consensus revenue estimate of $584.63 million.HNI Corporation also updated its FY17 guidance to $2.35-2.55 EPS.
HNI Corporation (NYSE:HNI) traded up 1.17% during mid-day trading on Monday, reaching $39.86. 227,340 shares of the company traded hands. HNI Corporation has a 12-month low of $37.24 and a 12-month high of $56.96. The company’s 50 day moving average price is $40.48 and its 200 day moving average price is $45.26. The firm has a market capitalization of $1.76 billion, a P/E ratio of 23.05 and a beta of 1.43.
HNI has been the topic of a number of recent research reports. TheStreet downgraded HNI Corporation from a b- rating to a c+ rating in a research report on Tuesday, June 20th. Zacks Investment Research downgraded HNI Corporation from a hold rating to a sell rating in a research report on Monday, April 24th. Finally, BidaskClub downgraded HNI Corporation from a hold rating to a sell rating in a research report on Saturday, June 17th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $47.00.
In related news, Chairman Stanley A. Askren sold 11,264 shares of the firm’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $46.01, for a total transaction of $518,256.64. Following the sale, the chairman now owns 204,996 shares of the company’s stock, valued at $9,431,865.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.16% of the stock is owned by company insiders.
HNI Corporation Company Profile
HNI Corporation is a provider of office furniture and hearth products. The Company’s office furniture products include panel-based and freestanding furniture systems, seating, storage and tables. The Company’s segments include office furniture and hearth products. The office furniture segment manufactures and markets a line of metal and wood commercial and home office furniture, which includes storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions, and panel systems and other related products.
Receive News & Ratings for HNI Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HNI Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
