Equities research analysts predict that Herman Miller, Inc. (NASDAQ:MLHR) will post earnings of $0.87 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Herman Miller’s earnings. Herman Miller reported earnings per share of $0.75 in the same quarter last year, which would suggest a positive year-over-year growth rate of 16%. The business is expected to announce its next earnings results on Wednesday, December 18th.
On average, analysts expect that Herman Miller will report full year earnings of $3.41 per share for the current financial year, with EPS estimates ranging from $3.40 to $3.42. For the next financial year, analysts anticipate that the company will report earnings of $3.71 per share, with EPS estimates ranging from $3.70 to $3.71. Zacks’ EPS calculations are an average based on a survey of analysts that follow Herman Miller.
Herman Miller (NASDAQ:MLHR) last issued its earnings results on Wednesday, September 18th. The business services provider reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.06. The company had revenue of $670.90 million during the quarter, compared to the consensus estimate of $661.80 million. Herman Miller had a return on equity of 25.80% and a net margin of 6.62%. Herman Miller’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.69 earnings per share.
MLHR has been the topic of several research reports. BidaskClub raised Herman Miller from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th. ValuEngine cut Herman Miller from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Sidoti upped their price target on Herman Miller from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Raymond James cut Herman Miller from an “outperform” rating to a “market perform” rating in a report on Monday, October 7th. Finally, Zacks Investment Research raised Herman Miller from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Herman Miller currently has a consensus rating of “Hold” and an average target price of $48.00.
In other Herman Miller news, insider Gregory J. Bylsma sold 13,288 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $46.17, for a total transaction of $613,506.96. Following the sale, the insider now directly owns 15,515 shares of the company’s stock, valued at approximately $716,327.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.91% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the business. Advisor Group Inc. raised its stake in Herman Miller by 32.4% during the 2nd quarter. Advisor Group Inc. now owns 1,596 shares of the business services provider’s stock valued at $71,000 after purchasing an additional 391 shares during the period. Robeco Institutional Asset Management B.V. acquired a new stake in Herman Miller during the 2nd quarter valued at $79,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Herman Miller during the 2nd quarter valued at $95,000. US Bancorp DE raised its stake in Herman Miller by 34.1% during the 2nd quarter. US Bancorp DE now owns 2,350 shares of the business services provider’s stock valued at $105,000 after purchasing an additional 597 shares during the period. Finally, Point72 Hong Kong Ltd raised its stake in Herman Miller by 260.9% during the 2nd quarter. Point72 Hong Kong Ltd now owns 2,638 shares of the business services provider’s stock valued at $118,000 after purchasing an additional 1,907 shares during the period. 81.10% of the stock is currently owned by institutional investors.
Shares of NASDAQ MLHR traded up $0.19 during midday trading on Tuesday, hitting $47.77. 242,700 shares of the company’s stock were exchanged, compared to its average volume of 384,103. The firm has a market cap of $2.79 billion, a P/E ratio of 16.08 and a beta of 1.67. Herman Miller has a twelve month low of $28.66 and a twelve month high of $49.40. The stock’s 50 day moving average price is $45.83 and its 200-day moving average price is $42.35. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.35 and a quick ratio of 0.97.
About Herman Miller
Herman Miller, Inc engages in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, home furnishings, and related services in the United States and internationally. The company provides modular systems under the Canvas Office Landscape, Locale, Public Office Landscape, Layout Studio, Action Office, Ethospace, Arras, and Resolve names; seating products under the Embody, Aeron, Mirra2, Setu, Say, Verus, Celle, Equa, Taper, and Ergon names; and storage products under the Meridian and Tu names.
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