Equities research analysts forecast that Herman Miller, Inc. (NASDAQ:MLHR) will report sales of $583.65 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Herman Miller’s earnings, with estimates ranging from $581.70 million to $585.60 million. Herman Miller reported sales of $582.60 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 0.2%. The company is expected to issue its next quarterly earnings report after the market closes on Wednesday, July 5th.
According to Zacks, analysts expect that Herman Miller will report full year sales of $583.65 million for the current fiscal year, with estimates ranging from $2.28 billion to $2.29 billion. For the next fiscal year, analysts expect that the firm will post sales of $2.34 billion per share, with estimates ranging from $2.33 billion to $2.34 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Herman Miller.
Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings data on Wednesday, March 22nd. The business services provider reported $0.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.07. Herman Miller had a return on equity of 22.73% and a net margin of 5.75%. The business had revenue of $524.90 million for the quarter, compared to the consensus estimate of $530.50 million. During the same period in the previous year, the business earned $0.46 earnings per share. The business’s revenue was down 2.2% on a year-over-year basis.
Several equities research analysts have recently issued reports on MLHR shares. Raymond James Financial, Inc. raised shares of Herman Miller from an “underperform” rating to a “market perform” rating in a research note on Thursday, March 23rd. Zacks Investment Research raised shares of Herman Miller from a “sell” rating to a “hold” rating in a research note on Wednesday, March 8th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Herman Miller currently has an average rating of “Hold” and a consensus target price of $35.00.
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Shares of Herman Miller (MLHR) traded up 0.16% during midday trading on Friday, hitting $32.05. The stock had a trading volume of 369,978 shares. The stock has a market cap of $1.92 billion, a PE ratio of 14.77 and a beta of 1.40. Herman Miller has a 52-week low of $26.99 and a 52-week high of $36.46. The firm has a 50 day moving average price of $32.50 and a 200-day moving average price of $32.01.
The business also recently declared a quarterly dividend, which will be paid on Saturday, July 15th. Investors of record on Saturday, June 3rd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Wednesday, May 31st. Herman Miller’s dividend payout ratio is presently 31.34%.
In related news, insider Andrew J. Lock sold 908 shares of the firm’s stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $31.50, for a total value of $28,602.00. Following the transaction, the insider now directly owns 29,029 shares of the company’s stock, valued at approximately $914,413.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael F. Ramirez sold 1,297 shares of the firm’s stock in a transaction dated Wednesday, April 26th. The shares were sold at an average price of $33.33, for a total transaction of $43,229.01. Following the completion of the transaction, the senior vice president now directly owns 14,966 shares in the company, valued at $498,816.78. The disclosure for this sale can be found here. Insiders sold a total of 37,107 shares of company stock worth $1,224,525 over the last ninety days. 1.91% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of MLHR. Meadow Creek Investment Management LLC raised its position in shares of Herman Miller by 5.1% in the first quarter. Meadow Creek Investment Management LLC now owns 3,444 shares of the business services provider’s stock worth $109,000 after buying an additional 168 shares in the last quarter. First Bank & Trust raised its position in shares of Herman Miller by 13.2% in the first quarter. First Bank & Trust now owns 3,841 shares of the business services provider’s stock worth $121,000 after buying an additional 448 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Herman Miller by 4.9% in the first quarter. Public Employees Retirement System of Ohio now owns 3,895 shares of the business services provider’s stock worth $123,000 after buying an additional 181 shares in the last quarter. Glen Harbor Capital Management LLC raised its position in shares of Herman Miller by 5.1% in the first quarter. Glen Harbor Capital Management LLC now owns 4,182 shares of the business services provider’s stock worth $132,000 after buying an additional 204 shares in the last quarter. Finally, Forward Management LLC raised its position in shares of Herman Miller by 3.1% in the first quarter. Forward Management LLC now owns 4,623 shares of the business services provider’s stock worth $146,000 after buying an additional 138 shares in the last quarter. 84.97% of the stock is currently owned by hedge funds and other institutional investors.
About Herman Miller
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