HNI (HNI) Earns Neutral Rating from Seaport Global Securities

Seaport Global Securities reaffirmed their neutral rating on shares of HNI (NYSE:HNI) in a research note issued to investors on Monday morning. Seaport Global Securities also issued estimates for HNI’s Q1 2018 earnings at $0.03 EPS, Q2 2018 earnings at $0.57 EPS, Q3 2018 earnings at $0.99 EPS, Q4 2018 earnings at $1.02 EPS, FY2018 earnings at $2.60 EPS and FY2019 earnings at $3.25 EPS.

Several other equities analysts have also recently commented on HNI. Raymond James Financial reaffirmed a market perform rating on shares of HNI in a research note on Tuesday, October 24th. Zacks Investment Research raised shares of HNI from a strong sell rating to a hold rating in a research note on Tuesday, December 26th. Finally, Rowe cut shares of HNI from an outperform rating to a market perform rating in a research note on Tuesday, October 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. HNI has a consensus rating of Hold and a consensus target price of $42.00.

HNI (HNI) opened at $38.68 on Monday. The firm has a market cap of $1,618.10, a PE ratio of 19.05 and a beta of 1.44. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.00 and a quick ratio of 0.68. HNI has a 12 month low of $31.16 and a 12 month high of $48.32.

HNI (NYSE:HNI) last posted its earnings results on Thursday, February 8th. The business services provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.05. The firm had revenue of $584.30 million during the quarter, compared to the consensus estimate of $567.83 million. HNI had a net margin of 4.13% and a return on equity of 17.64%. The company’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the company earned $0.82 earnings per share. equities research analysts expect that HNI will post 2.5 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 5th. Investors of record on Monday, February 26th will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 2.95%. HNI’s dividend payout ratio is currently 56.16%.

In related news, Chairman Stanley A. Askren sold 6,112 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $33.44, for a total transaction of $204,385.28. Following the completion of the transaction, the chairman now owns 218,163 shares of the company’s stock, valued at $7,295,370.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Stanley A. Askren sold 3,032 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $34.62, for a total transaction of $104,967.84. Following the transaction, the chief executive officer now directly owns 213,020 shares of the company’s stock, valued at approximately $7,374,752.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,375 shares of company stock valued at $1,027,081. 5.16% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in HNI. Frontier Capital Management Co. LLC lifted its position in HNI by 2.2% during the third quarter. Frontier Capital Management Co. LLC now owns 1,048,786 shares of the business services provider’s stock valued at $43,493,000 after purchasing an additional 22,330 shares during the last quarter. New York State Common Retirement Fund lifted its position in HNI by 51.8% during the third quarter. New York State Common Retirement Fund now owns 71,200 shares of the business services provider’s stock valued at $2,953,000 after purchasing an additional 24,300 shares during the last quarter. Rhumbline Advisers lifted its position in HNI by 8.9% during the third quarter. Rhumbline Advisers now owns 95,340 shares of the business services provider’s stock valued at $3,954,000 after purchasing an additional 7,783 shares during the last quarter. Russell Investments Group Ltd. lifted its position in HNI by 5,066.3% during the third quarter. Russell Investments Group Ltd. now owns 240,441 shares of the business services provider’s stock valued at $9,972,000 after purchasing an additional 235,787 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in HNI by 18.6% during the third quarter. SG Americas Securities LLC now owns 16,463 shares of the business services provider’s stock valued at $683,000 after purchasing an additional 2,586 shares during the last quarter. Institutional investors and hedge funds own 70.88% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This article was published by Week Herald and is owned by of Week Herald. If you are reading this article on another website, it was stolen and reposted in violation of international trademark and copyright laws. The correct version of this article can be accessed at https://weekherald.com/2018/02/15/hni-hni-earns-neutral-rating-from-seaport-global-securities.html.

HNI Company Profile

HNI Corporation is a provider of office furniture and hearth products. The Company’s office furniture products include panel-based and freestanding furniture systems, seating, storage and tables. The Company’s segments include office furniture and hearth products. The office furniture segment manufactures and markets a line of metal and wood commercial and home office furniture, which includes storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions, and panel systems and other related products.

Analyst Recommendations 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.

Leave a Reply