HNI (NYSE:HNI) Issues Quarterly Earnings Results, Beats Estimates By $0.06 EPS

HNI (NYSE:HNI) announced its quarterly earnings data on Tuesday. The business services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.06, Briefing.com reports. HNI had a return on equity of 19.15% and a net margin of 4.39%. The firm had revenue of $672.20 million during the quarter, compared to analysts’ expectations of $712.75 million. During the same period in the previous year, the business posted $0.93 EPS. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. HNI updated its FY 2024 guidance to 1.080- EPS.

HNI Trading Down 0.7 %

NYSE:HNI traded down $0.37 during trading hours on Wednesday, hitting $49.81. The stock had a trading volume of 122,829 shares, compared to its average volume of 247,064. The business’s 50 day moving average is $52.62 and its 200-day moving average is $48.57. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.73 and a current ratio of 1.20. The company has a market cap of $2.36 billion, a price-to-earnings ratio of 36.82, a P/E/G ratio of 1.39 and a beta of 0.84. HNI has a one year low of $33.26 and a one year high of $56.13.

HNI Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Friday, August 23rd were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Friday, August 23rd. HNI’s payout ratio is 97.78%.

Insider Transactions at HNI

In other HNI news, CEO Jeffrey D. Lorenger sold 72,102 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $49.32, for a total value of $3,556,070.64. Following the completion of the sale, the chief executive officer now directly owns 296,892 shares in the company, valued at $14,642,713.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other HNI news, CEO Jeffrey D. Lorenger sold 16,450 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $53.09, for a total transaction of $873,330.50. Following the completion of the transaction, the chief executive officer now owns 296,892 shares in the company, valued at approximately $15,761,996.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeffrey D. Lorenger sold 72,102 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $49.32, for a total value of $3,556,070.64. Following the completion of the sale, the chief executive officer now owns 296,892 shares in the company, valued at approximately $14,642,713.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 110,582 shares of company stock valued at $5,597,281 over the last three months. 3.36% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Benchmark boosted their price target on shares of HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. StockNews.com cut shares of HNI from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 13th.

HNI Company Profile

HNI Corporation, together with its subsidiaries, engages in the manufacture, sale, and marketing of workplace furnishings and residential building products primarily in the United States and Canada. The company operates through two segments, Workplace Furnishings and Residential Building Products. The Workplace Furnishings segment offers a range of commercial and home office furniture, including panel-based and freestanding furniture systems, seating, storage, benching, tables, architectural products, and ancillary and hospitality products, as well as social collaborative items under the HON, Allsteel, Beyond, Gunlocke, HBF, HBF Textiles, HNI India, Kimball, National, Etc., Interwoven, David Edward, Kimball Hospitality, and D'style brands.