Brokerages Expect Herman Miller, Inc. (NASDAQ:MLHR) to Announce $0.87 EPS

Analysts predict that Herman Miller, Inc. (NASDAQ:MLHR) will announce $0.87 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Herman Miller’s earnings. Herman Miller posted earnings of $0.75 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 16%. The firm is expected to report 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 year, with EPS estimates ranging from $3.40 to $3.42. For the next fiscal year, analysts expect that the business will report earnings of $3.71 per share, with EPS estimates ranging from $3.70 to $3.71. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Herman Miller.

Herman Miller (NASDAQ:MLHR) last released its quarterly earnings results on Wednesday, September 18th. The business services provider reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.06. Herman Miller had a return on equity of 25.80% and a net margin of 6.62%. The firm had revenue of $670.90 million for the quarter, compared to the consensus estimate of $661.80 million. During the same period last year, the business posted $0.69 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis.

Several research analysts have issued reports on MLHR shares. Raymond James cut Herman Miller from an “outperform” rating to a “market perform” rating in a research report on Monday, October 7th. Zacks Investment Research downgraded Herman Miller from a “buy” rating to a “hold” rating in a research note on Thursday, November 21st. ValuEngine lowered shares of Herman Miller from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Sidoti increased their price objective on shares of Herman Miller from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. Finally, BidaskClub raised shares of Herman Miller from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $48.00.

Herman Miller stock traded down $0.62 during mid-day trading on Thursday, reaching $47.00. 3,833 shares of the stock traded hands, compared to its average volume of 260,423. Herman Miller has a 12-month low of $28.66 and a 12-month high of $49.40. The business’s 50-day moving average is $47.15 and its 200-day moving average is $43.46. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.35 and a quick ratio of 0.97. The stock has a market capitalization of $2.82 billion, a PE ratio of 15.79 and a beta of 1.68.

The firm also recently disclosed a dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Sunday, December 1st will be given a dividend of $0.21 per share. The ex-dividend date is Wednesday, November 27th. Herman Miller’s payout ratio is 28.28%.

In other news, insider Gregory J. Bylsma sold 13,288 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $46.17, for a total value of $613,506.96. Following the completion of the sale, the insider now directly owns 15,515 shares in the company, valued at approximately $716,327.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.05% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC increased its holdings in Herman Miller by 26.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,245,464 shares of the business services provider’s stock worth $55,672,000 after acquiring an additional 260,917 shares in the last quarter. Northern Trust Corp raised its stake in Herman Miller by 0.5% during the 2nd quarter. Northern Trust Corp now owns 965,130 shares of the business services provider’s stock worth $43,142,000 after acquiring an additional 4,718 shares during the period. Bank of New York Mellon Corp raised its stake in Herman Miller by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 930,725 shares of the business services provider’s stock worth $41,604,000 after acquiring an additional 27,008 shares during the period. Prudential Financial Inc. lifted its holdings in Herman Miller by 6.7% during the second quarter. Prudential Financial Inc. now owns 850,109 shares of the business services provider’s stock valued at $38,000,000 after purchasing an additional 53,260 shares in the last quarter. Finally, APG Asset Management N.V. lifted its holdings in Herman Miller by 124.4% during the second quarter. APG Asset Management N.V. now owns 511,000 shares of the business services provider’s stock valued at $20,058,000 after purchasing an additional 283,300 shares in the last quarter. 82.17% of the stock is currently owned by hedge funds and other institutional investors.

Herman Miller Company Profile

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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