Q2 2024 EPS Estimates for HNI Co. (NYSE:HNI) Cut by Analyst

HNI Co. (NYSE:HNIFree Report) – Stock analysts at Sidoti Csr cut their Q2 2024 earnings per share (EPS) estimates for HNI in a report released on Tuesday, April 30th. Sidoti Csr analyst G. Burns now expects that the business services provider will post earnings of $0.60 per share for the quarter, down from their prior forecast of $0.63. The consensus estimate for HNI’s current full-year earnings is $3.10 per share. Sidoti Csr also issued estimates for HNI’s FY2024 earnings at $3.10 EPS, Q2 2025 earnings at $0.82 EPS, Q3 2025 earnings at $1.26 EPS and FY2025 earnings at $3.54 EPS.

HNI (NYSE:HNIGet Free Report) last posted its quarterly earnings data on Monday, April 29th. The business services provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.19. The firm had revenue of $588.00 million during the quarter, compared to analysts’ expectations of $574.56 million. HNI had a return on equity of 17.75% and a net margin of 2.57%. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 EPS.

Other analysts have also recently issued reports about the stock. Benchmark lifted their target price on shares of HNI from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday. StockNews.com lowered HNI from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 8th.

Get Our Latest Analysis on HNI

HNI Stock Performance

Shares of NYSE HNI opened at $43.35 on Wednesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.29 and a quick ratio of 0.73. The company has a market cap of $2.05 billion, a PE ratio of 32.11, a price-to-earnings-growth ratio of 1.13 and a beta of 0.87. The company has a 50-day simple moving average of $43.27 and a 200-day simple moving average of $41.05. HNI has a 12 month low of $24.81 and a 12 month high of $45.47.

Institutional Trading of HNI

Several large investors have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. acquired a new position in shares of HNI during the first quarter worth about $202,000. Nordea Investment Management AB raised its holdings in shares of HNI by 11.7% during the 1st quarter. Nordea Investment Management AB now owns 89,002 shares of the business services provider’s stock valued at $4,047,000 after buying an additional 9,329 shares during the period. BNP Paribas Financial Markets lifted its position in HNI by 86.6% during the 1st quarter. BNP Paribas Financial Markets now owns 35,859 shares of the business services provider’s stock worth $1,618,000 after acquiring an additional 16,646 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in HNI in the 1st quarter worth approximately $245,000. Finally, Oxford Financial Group LTD. LLC grew its position in HNI by 58.0% in the fourth quarter. Oxford Financial Group LTD. LLC now owns 51,867 shares of the business services provider’s stock valued at $2,170,000 after acquiring an additional 19,032 shares in the last quarter. 75.26% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Miguel M. Calado sold 2,500 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $42.99, for a total transaction of $107,475.00. Following the completion of the sale, the director now directly owns 36,988 shares in the company, valued at approximately $1,590,114.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Vincent P. Berger sold 9,976 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $43.01, for a total value of $429,067.76. Following the transaction, the executive vice president now owns 67,025 shares in the company, valued at $2,882,745.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Miguel M. Calado sold 2,500 shares of HNI stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $42.99, for a total transaction of $107,475.00. Following the transaction, the director now directly owns 36,988 shares in the company, valued at $1,590,114.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,374 shares of company stock valued at $749,534. Insiders own 3.36% of the company’s stock.

HNI Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Investors of record on Monday, February 26th were issued a $0.32 dividend. The ex-dividend date was Friday, February 23rd. This represents a $1.28 dividend on an annualized basis and a yield of 2.95%. HNI’s payout ratio is 94.81%.

About HNI

(Get Free Report)

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.

Further Reading

Earnings History and Estimates for HNI (NYSE:HNI)

Receive News & Ratings for HNI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HNI and related companies with MarketBeat.com's FREE daily email newsletter.