HNI (NYSE:HNI) Posts Quarterly Earnings Results, Beats Estimates By $0.13 EPS

HNI (NYSE:HNI) announced its quarterly earnings data on Thursday. The business services provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.74 by $0.13, Zacks reports. HNI had a return on equity of 19.29% and a net margin of 4.83%. The business had revenue of $642.50 million for the quarter, compared to the consensus estimate of $657.03 million.

HNI Trading Down 5.4 %

HNI stock traded down $2.63 during midday trading on Friday, reaching $46.52. 66,965 shares of the company traded hands, compared to its average volume of 286,718. HNI has a 52-week low of $40.94 and a 52-week high of $58.42. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.68 and a current ratio of 1.09. The business has a 50 day moving average of $49.97 and a 200-day moving average of $52.02. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 18.08, a P/E/G ratio of 1.13 and a beta of 0.90.

HNI Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $1.32 dividend on an annualized basis and a yield of 2.84%. HNI’s dividend payout ratio (DPR) is presently 51.16%.

Insider Activity

In related news, insider Brian Scott Smith sold 556 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $49.90, for a total value of $27,744.40. Following the transaction, the insider now owns 14,394 shares of the company’s stock, valued at $718,260.60. This represents a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Larry B. Porcellato sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $56.95, for a total value of $113,900.00. Following the completion of the transaction, the director now directly owns 37,880 shares in the company, valued at approximately $2,157,266. This trade represents a 5.02 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.36% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded HNI from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 31st.

HNI Company Profile

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.