Zacks: Brokerages Expect HNI Corp (NYSE:HNI) Will Announce Quarterly Sales of $552.15 Million

Brokerages expect HNI Corp (NYSE:HNI) to report $552.15 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for HNI’s earnings, with the lowest sales estimate coming in at $551.00 million and the highest estimate coming in at $553.30 million. HNI posted sales of $543.61 million in the same quarter last year, which would suggest a positive year over year growth rate of 1.6%. The company is scheduled to report its next quarterly earnings results after the market closes on Wednesday, July 24th.

On average, analysts expect that HNI will report full year sales of $2.32 billion for the current year. For the next year, analysts expect that the company will post sales of $2.40 billion, with estimates ranging from $2.38 billion to $2.41 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for HNI.

HNI (NYSE:HNI) last announced its quarterly earnings results on Monday, April 22nd. The business services provider reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.01. HNI had a net margin of 4.12% and a return on equity of 18.89%. The company had revenue of $479.50 million for the quarter, compared to analyst estimates of $485.33 million. During the same quarter in the prior year, the business posted $0.10 EPS. HNI’s quarterly revenue was down 5.1% on a year-over-year basis.



A number of research analysts recently issued reports on HNI shares. TheStreet upgraded shares of Secureworks from a “d+” rating to a “c-” rating in a research note on Monday, April 22nd. Sidoti set a $45.00 target price on shares of HNI and gave the company a “hold” rating in a research note on Friday, May 31st. ValuEngine lowered shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, Zacks Investment Research lowered shares of Farmland Partners from a “hold” rating to a “sell” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $45.00.

A number of large investors have recently bought and sold shares of the stock. Macquarie Group Ltd. grew its stake in HNI by 250.0% in the 4th quarter. Macquarie Group Ltd. now owns 700 shares of the business services provider’s stock valued at $25,000 after buying an additional 500 shares during the last quarter. Strs Ohio boosted its holdings in HNI by 1.9% in the 1st quarter. Strs Ohio now owns 26,200 shares of the business services provider’s stock valued at $950,000 after purchasing an additional 500 shares during the period. Thrivent Financial for Lutherans boosted its holdings in HNI by 5.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 11,104 shares of the business services provider’s stock valued at $393,000 after purchasing an additional 609 shares during the period. Rhumbline Advisers boosted its holdings in HNI by 0.6% in the 1st quarter. Rhumbline Advisers now owns 127,024 shares of the business services provider’s stock valued at $4,610,000 after purchasing an additional 695 shares during the period. Finally, Two Sigma Advisers LP boosted its holdings in HNI by 1.9% in the 4th quarter. Two Sigma Advisers LP now owns 40,550 shares of the business services provider’s stock valued at $1,437,000 after purchasing an additional 774 shares during the period. Institutional investors and hedge funds own 70.51% of the company’s stock.

Shares of HNI traded up $0.61 during mid-day trading on Friday, hitting $34.66. 204,547 shares of the company’s stock were exchanged, compared to its average volume of 241,927. HNI has a twelve month low of $32.79 and a twelve month high of $45.40. The firm’s fifty day simple moving average is $34.71. The company has a current ratio of 1.30, a quick ratio of 0.84 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $1.48 billion, a PE ratio of 14.38 and a beta of 1.25.

HNI Company Profile

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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