Herman Miller (NASDAQ:MLHR) Issues Q3 Earnings Guidance

Herman Miller (NASDAQ:MLHR) updated its third quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.46-0.50 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.46. The company issued revenue guidance of $565-585 million, compared to the consensus revenue estimate of $550.97 million.

A number of research analysts recently commented on MLHR shares. Zacks Investment Research cut Herman Miller from a buy rating to a hold rating in a report on Wednesday, October 4th. ValuEngine raised Herman Miller from a hold rating to a buy rating in a report on Wednesday, September 27th. BidaskClub raised Herman Miller from a hold rating to a buy rating in a report on Wednesday, December 27th. Finally, Raymond James Financial raised Herman Miller from a market perform rating to an outperform rating and set a $43.00 price objective on the stock in a report on Tuesday, December 26th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $41.67.

Herman Miller (NASDAQ:MLHR) opened at $40.90 on Friday. Herman Miller has a 12-month low of $28.55 and a 12-month high of $40.90. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.89 and a current ratio of 1.33. The stock has a market capitalization of $2,360.00, a price-to-earnings ratio of 20.15 and a beta of 1.48.

Herman Miller (NASDAQ:MLHR) last issued its quarterly earnings data on Wednesday, December 20th. The business services provider reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. The firm had revenue of $604.60 million during the quarter, compared to analysts’ expectations of $603.77 million. Herman Miller had a return on equity of 21.85% and a net margin of 5.36%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 EPS. research analysts forecast that Herman Miller will post 2.35 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Saturday, December 2nd will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Thursday, November 30th. Herman Miller’s dividend payout ratio (DPR) is presently 35.47%.

In other news, EVP Jeremy J. Hocking sold 2,442 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $40.40, for a total value of $98,656.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Stephen C. Gane sold 30,988 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $39.77, for a total value of $1,232,392.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,002 shares of company stock valued at $2,307,612. 1.91% of the stock is currently owned by company insiders.

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