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.
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.
About Herman Miller
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