HNI (NYSE:HNI) Releases FY 2024 Earnings Guidance

HNI (NYSE:HNI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 1.080- for the period, compared to the consensus EPS estimate of 3.200. The company issued revenue guidance of -.

HNI Price Performance

HNI stock traded down $3.52 during mid-day trading on Tuesday, hitting $48.31. The company’s stock had a trading volume of 212,863 shares, compared to its average volume of 245,521. The company has a quick ratio of 0.73, a current ratio of 1.20 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $2.28 billion, a P/E ratio of 35.82, a P/E/G ratio of 1.39 and a beta of 0.84. HNI has a twelve month low of $33.21 and a twelve month high of $56.13. The stock’s fifty day moving average price is $52.64 and its two-hundred day moving average price is $48.51.

HNI Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 23rd were given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend was Friday, August 23rd. HNI’s dividend payout ratio is 97.78%.

Analyst Ratings Changes

A number of research analysts have recently commented on HNI shares. StockNews.com lowered shares of HNI from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 13th. Benchmark upped their price objective on shares of HNI from $57.00 to $63.00 and gave the company a “buy” rating in a research report on Friday, July 26th.

Insider Transactions at HNI

In other news, CEO Jeffrey D. Lorenger sold 72,102 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $49.32, for a total transaction of $3,556,070.64. Following the transaction, the chief executive officer now directly owns 296,892 shares in the company, valued at approximately $14,642,713.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Miguel M. Calado sold 5,299 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $52.96, for a total value of $280,635.04. Following the transaction, the director now directly owns 31,159 shares in the company, valued at $1,650,180.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeffrey D. Lorenger sold 72,102 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $49.32, for a total transaction of $3,556,070.64. Following the completion of the transaction, the chief executive officer now owns 296,892 shares in the company, valued at $14,642,713.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,582 shares of company stock worth $5,597,281. Corporate insiders own 3.36% of the company’s stock.

About HNI

HNI Corporation, together with its subsidiaries, engages in the manufacture, sale, and marketing of workplace furnishings and residential building products primarily in the United States and Canada. The company operates through two segments, Workplace Furnishings and Residential Building Products. The Workplace Furnishings segment offers a range of commercial and home office furniture, including panel-based and freestanding furniture systems, seating, storage, benching, tables, architectural products, and ancillary and hospitality products, as well as social collaborative items under the HON, Allsteel, Beyond, Gunlocke, HBF, HBF Textiles, HNI India, Kimball, National, Etc., Interwoven, David Edward, Kimball Hospitality, and D'style brands.