Herman Miller, Inc. (NASDAQ:MLHR) Expected to Post Quarterly Sales of $662.35 Million

Brokerages expect that Herman Miller, Inc. (NASDAQ:MLHR) will announce $662.35 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Herman Miller’s earnings. The highest sales estimate is $662.60 million and the lowest is $662.10 million. Herman Miller posted sales of $624.60 million in the same quarter last year, which would indicate a positive year over year growth rate of 6%. The firm is scheduled to report its next earnings report on Wednesday, September 18th.

On average, analysts expect that Herman Miller will report full-year sales of $2.69 billion for the current fiscal year, with estimates ranging from $2.68 billion to $2.71 billion. For the next fiscal year, analysts anticipate that the business will report sales of $2.80 billion, with estimates ranging from $2.80 billion to $2.81 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Herman Miller.

Herman Miller (NASDAQ:MLHR) last announced its quarterly earnings data on Wednesday, June 26th. The business services provider reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.10. The firm had revenue of $671.00 million during the quarter, compared to analysts’ expectations of $657.23 million. Herman Miller had a net margin of 6.25% and a return on equity of 25.20%. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.66 earnings per share.



Several equities analysts recently weighed in on MLHR shares. BidaskClub cut shares of Herman Miller from a “buy” rating to a “hold” rating in a research note on Saturday, June 1st. Sidoti cut shares of Herman Miller from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 1st. They noted that the move was a valuation call. ValuEngine cut shares of Herman Miller from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research raised shares of Herman Miller from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, July 2nd. Finally, Raymond James raised their target price on shares of Herman Miller from $41.00 to $48.00 and gave the company an “outperform” rating in a research note on Friday, June 28th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Herman Miller presently has an average rating of “Hold” and an average price target of $49.00.

Shares of NASDAQ MLHR traded down $0.61 during midday trading on Thursday, reaching $41.29. The stock had a trading volume of 403,100 shares, compared to its average volume of 360,052. The stock has a 50-day moving average of $44.42 and a 200-day moving average of $38.79. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.07 and a current ratio of 1.48. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 13.90 and a beta of 1.63. Herman Miller has a 12-month low of $28.66 and a 12-month high of $46.29.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Saturday, August 31st will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.03%. This is a boost from Herman Miller’s previous quarterly dividend of $0.20. The ex-dividend date is Thursday, August 29th. Herman Miller’s dividend payout ratio (DPR) is presently 26.60%.

In other Herman Miller news, insider Gregory J. Bylsma sold 10,717 shares of Herman Miller stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $44.19, for a total value of $473,584.23. Following the completion of the transaction, the insider now directly owns 21,181 shares of the company’s stock, valued at approximately $935,988.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jeffrey L. Kurburski sold 3,442 shares of Herman Miller stock in a transaction on Monday, July 29th. The stock was sold at an average price of $45.52, for a total transaction of $156,679.84. Following the completion of the transaction, the senior vice president now directly owns 4,109 shares of the company’s stock, valued at $187,041.68. The disclosure for this sale can be found here. Insiders have sold 96,601 shares of company stock valued at $4,329,094 over the last ninety days. 1.05% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of MLHR. Penserra Capital Management LLC purchased a new position in shares of Herman Miller in the 1st quarter worth $27,000. Advisor Group Inc. grew its stake in shares of Herman Miller by 61.2% in the 4th quarter. Advisor Group Inc. now owns 1,314 shares of the business services provider’s stock worth $40,000 after buying an additional 499 shares in the last quarter. Bremer Bank National Association purchased a new position in shares of Herman Miller in the 1st quarter worth $44,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of Herman Miller in the 2nd quarter worth about $79,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Herman Miller in the 2nd quarter worth about $95,000. 80.85% of the stock is owned by institutional investors and hedge funds.

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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