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

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

HNI Trading Down 0.4 %

Shares of NYSE:HNI traded down $0.21 during midday trading on Wednesday, hitting $49.97. The company had a trading volume of 134,149 shares, compared to its average volume of 247,118. The firm has a fifty day simple moving average of $52.62 and a 200 day simple moving average of $48.57. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 36.82, a PEG ratio of 1.39 and a beta of 0.84. HNI has a 12 month low of $33.26 and a 12 month high of $56.13. The company has a current ratio of 1.20, a quick ratio of 0.73 and a debt-to-equity ratio of 0.53.

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 given a $0.33 dividend. The ex-dividend date was Friday, August 23rd. This represents a $1.32 dividend on an annualized basis and a yield of 2.64%. HNI’s payout ratio is 97.78%.

Insider Activity

In other HNI news, insider Brian Scott Smith sold 2,284 shares of HNI stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total value of $123,336.00. Following the sale, the insider now directly owns 11,902 shares in the company, valued at approximately $642,708. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other HNI news, insider Brian Scott Smith sold 2,284 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total value of $123,336.00. Following the completion of the sale, the insider now owns 11,902 shares in the company, valued at $642,708. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mary A. Bell sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $51.85, for a total transaction of $259,250.00. Following the completion of the sale, the director now directly owns 74,401 shares in the company, valued at approximately $3,857,691.85. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,582 shares of company stock worth $5,597,281 in the last 90 days. Corporate insiders own 3.36% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on HNI shares. Benchmark lifted their price objective on shares of HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. StockNews.com lowered shares of HNI from a “strong-buy” rating to a “buy” rating in a research note 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.