HNI (NYSE:HNI) Issues FY 2024 Earnings Guidance

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

HNI Stock Performance

HNI stock traded down $0.37 on Wednesday, reaching $49.81. 162,824 shares of the stock were exchanged, compared to its average volume of 247,255. The stock has a market cap of $2.36 billion, a PE ratio of 36.82, a PEG ratio of 1.39 and a beta of 0.84. The firm has a fifty day moving average price of $52.62 and a two-hundred day moving average price of $48.57. HNI has a twelve month low of $33.26 and a twelve month high of $56.13. The company has a current ratio of 1.20, a quick ratio of 0.73 and a debt-to-equity ratio of 0.53.

HNI (NYSE:HNI) last posted its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.06. The business had revenue of $672.20 million during the quarter, compared to analysts’ expectations of $712.75 million. HNI had a return on equity of 19.15% and a net margin of 4.39%. The firm’s revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.93 EPS. Sell-side analysts anticipate that HNI will post 3.17 EPS for the current year.

HNI Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 23rd were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Friday, August 23rd. HNI’s dividend payout ratio is currently 97.78%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Benchmark lifted their price target on HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. StockNews.com downgraded HNI from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 13th.

Insider Transactions at HNI

In other news, insider Brian Scott Smith sold 2,284 shares of HNI stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $54.00, for a total transaction of $123,336.00. Following the sale, the insider now owns 11,902 shares of the company’s stock, valued at approximately $642,708. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Mary A. Bell sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $51.85, for a total value of $259,250.00. Following the sale, the director now owns 74,401 shares of the company’s stock, valued at $3,857,691.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian Scott Smith sold 2,284 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $54.00, for a total value of $123,336.00. Following the completion of the sale, the insider now directly owns 11,902 shares in the company, valued at approximately $642,708. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,582 shares of company stock valued at $5,597,281. 3.36% of the stock is owned by corporate insiders.

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.