Brokerages predict that Herman Miller (NASDAQ:MLHR) will announce earnings of $0.49 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Herman Miller’s earnings, with the highest EPS estimate coming in at $0.50 and the lowest estimate coming in at $0.48. Herman Miller posted earnings per share of $0.39 in the same quarter last year, which suggests a positive year over year growth rate of 25.6%. The business is expected to announce its next quarterly earnings results after the market closes on Wednesday, March 21st.
On average, analysts expect that Herman Miller will report full-year earnings of $2.35 per share for the current financial year, with EPS estimates ranging from $2.30 to $2.39. For the next fiscal year, analysts anticipate that the company will post earnings of $2.71 per share, with EPS estimates ranging from $2.55 to $2.86. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Herman Miller.
Herman Miller (NASDAQ:MLHR) last released its quarterly earnings results on Wednesday, December 20th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.57. Herman Miller had a net margin of 5.41% and a return on equity of 21.69%. The firm had revenue of $604.60 million during the quarter, compared to the consensus estimate of $603.77 million. During the same quarter last year, the firm earned $0.54 earnings per share. The company’s revenue for the quarter was up 4.7% on a year-over-year basis.
Herman Miller (NASDAQ:MLHR) opened at $37.75 on Friday. Herman Miller has a 52 week low of $28.55 and a 52 week high of $41.85. The firm has a market cap of $2,240.62, a price-to-earnings ratio of 18.69 and a beta of 1.41. 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 company also recently announced a quarterly dividend, which will be paid on Sunday, April 15th. Investors of record on Saturday, March 3rd will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Thursday, March 1st. Herman Miller’s dividend payout ratio is presently 35.64%.
In other Herman Miller news, CEO Brian C. Walker sold 90,003 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $36.27, for a total value of $3,264,408.81. Following the completion of the sale, the chief executive officer now directly owns 226,389 shares in the company, valued at $8,211,129.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kevin J. Veltman sold 1,190 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $40.28, for a total transaction of $47,933.20. The disclosure for this sale can be found here. Insiders have sold 267,202 shares of company stock valued at $10,111,655 in the last three months. 1.91% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of the business. MetLife Investment Advisors LLC acquired a new stake in Herman Miller in the fourth quarter worth $2,648,000. Gotham Asset Management LLC grew its holdings in Herman Miller by 55.6% in the fourth quarter. Gotham Asset Management LLC now owns 11,067 shares of the business services provider’s stock worth $443,000 after purchasing an additional 3,956 shares during the period. Glenmede Trust Co. NA grew its holdings in Herman Miller by 31.6% in the fourth quarter. Glenmede Trust Co. NA now owns 32,075 shares of the business services provider’s stock worth $1,284,000 after purchasing an additional 7,696 shares during the period. Vident Investment Advisory LLC grew its holdings in Herman Miller by 11.2% in the fourth quarter. Vident Investment Advisory LLC now owns 91,499 shares of the business services provider’s stock worth $3,665,000 after purchasing an additional 9,205 shares during the period. Finally, Jane Street Group LLC grew its holdings in Herman Miller by 94.7% in the fourth quarter. Jane Street Group LLC now owns 14,918 shares of the business services provider’s stock worth $597,000 after purchasing an additional 7,255 shares during the period. Institutional investors and hedge funds own 82.72% of the company’s stock.
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About Herman Miller
Herman Miller, Inc is engaged in the research, design, manufacture, sale and distribution of office furniture systems, seating products, home furnishings and related services, among others. The Company’s segments include North American Furniture Solutions, which includes the design, manufacture and sale of furniture products for work-related settings, including office, education and healthcare environments, across the United States and Canada; EMEA, Latin America, and Asia Pacific (ELA) Furniture Solutions, which includes the operations associated with the design, manufacture, and sale of furniture products, primarily for work-related settings, in the Europe, Middle East and Africa (EMEA), Latin America and Asia-Pacific geographic regions, among others; Specialty segment, which includes the design, manufacture and sale of furniture products and textiles, and Consumer segment, which includes the sale of modern design furnishings and accessories to third-party retail distributors.
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