Q2 2019 EPS Estimates for HNI Corp (HNI) Decreased by Seaport Global Securities

HNI Corp (NYSE:HNI) – Research analysts at Seaport Global Securities dropped their Q2 2019 EPS estimates for shares of HNI in a research report issued on Tuesday, April 23rd. Seaport Global Securities analyst M. Mccall now expects that the business services provider will earn $0.41 per share for the quarter, down from their previous forecast of $0.56. Seaport Global Securities has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for HNI’s Q3 2019 earnings at $1.10 EPS and Q4 2019 earnings at $1.17 EPS.

HNI (NYSE:HNI) last issued its quarterly earnings data on Monday, April 22nd. The business services provider reported $0.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.01. HNI had a return on equity of 19.79% and a net margin of 4.14%. The firm had revenue of $479.50 million during the quarter, compared to the consensus estimate of $485.33 million. During the same quarter in the previous year, the company posted $0.10 EPS. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year.

Other equities analysts also recently issued research reports about the company. TheStreet upgraded HNI from a “c+” rating to a “b” rating in a research report on Friday, February 15th. Sidoti downgraded HNI from a “buy” rating to a “neutral” rating and cut their price objective for the company from $47.00 to $43.00 in a research report on Tuesday, February 26th. Finally, Zacks Investment Research downgraded HNI from a “hold” rating to a “sell” rating in a research report on Saturday, March 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $43.00.

Shares of HNI opened at $36.52 on Wednesday. The company has a quick ratio of 0.86, a current ratio of 1.22 and a debt-to-equity ratio of 0.44. HNI has a 52-week low of $32.55 and a 52-week high of $45.40. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 15.15 and a beta of 1.30.

In other news, Director Ronald V. Waters sold 5,000 shares of the business’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $42.09, for a total transaction of $210,450.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.20% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Macquarie Group Ltd. raised its position in shares of HNI by 250.0% during the fourth quarter. Macquarie Group Ltd. now owns 700 shares of the business services provider’s stock worth $25,000 after acquiring an additional 500 shares during the last quarter. Claybrook Capital LLC bought a new stake in shares of HNI during the fourth quarter worth $69,000. Investors Research Corp bought a new stake in shares of HNI during the first quarter worth $76,000. Quantamental Technologies LLC bought a new stake in shares of HNI during the fourth quarter worth $80,000. Finally, Dupont Capital Management Corp bought a new stake in shares of HNI during the fourth quarter worth $99,000. Institutional investors own 72.50% of the company’s stock.

About HNI

HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, Singapore, and Taiwan. Its Office Furniture segment offers a range of commercial and home office furniture, which include storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions and panel systems, and other related products under the HON, Allsteel, Maxon, Gunlocke, HBF, OFM, Lamex, and HNI India brands.

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