Sidoti Csr Comments on HNI’s Q4 Earnings (NYSE:HNI)

HNI Co. (NYSE:HNI) – Research analysts at Sidoti Csr lowered their Q4 2024 earnings estimates for HNI in a report released on Wednesday, October 30th. Sidoti Csr analyst G. Burns now anticipates that the business services provider will post earnings of $0.73 per share for the quarter, down from their previous forecast of $1.04. The consensus estimate for HNI’s current full-year earnings is $2.93 per share.

Several other brokerages also recently issued reports on HNI. Benchmark upped their target price on shares of HNI from $57.00 to $63.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. StockNews.com upgraded shares of HNI from a “buy” rating to a “strong-buy” rating in a research note on Thursday.

HNI Trading Up 0.9 %

Shares of NYSE HNI opened at $49.71 on Friday. The firm’s 50 day moving average price is $52.50 and its 200-day moving average price is $48.58. The company has a market cap of $2.38 billion, a PE ratio of 19.27, a P/E/G ratio of 1.41 and a beta of 0.84. HNI has a 52-week low of $36.72 and a 52-week high of $56.13. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.73 and a current ratio of 1.09.

HNI (NYSE:HNI) last posted its quarterly earnings data on Tuesday, October 29th. The business services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.98 by $0.05. The business had revenue of $672.20 million for the quarter, compared to analyst estimates of $712.75 million. HNI had a net margin of 4.83% and a return on equity of 19.29%. HNI’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.93 earnings per share.

Institutional Trading of HNI

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in HNI by 5.5% during the first quarter. Vanguard Group Inc. now owns 5,566,311 shares of the business services provider’s stock valued at $251,208,000 after buying an additional 287,735 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in HNI by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,625,534 shares of the business services provider’s stock valued at $73,180,000 after buying an additional 9,901 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in HNI by 3.1% during the second quarter. Bank of New York Mellon Corp now owns 565,012 shares of the business services provider’s stock valued at $25,437,000 after buying an additional 17,151 shares during the last quarter. Clifford Capital Partners LLC increased its holdings in HNI by 14.6% during the second quarter. Clifford Capital Partners LLC now owns 291,535 shares of the business services provider’s stock valued at $13,125,000 after buying an additional 37,155 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of HNI by 1.9% in the third quarter. Principal Financial Group Inc. now owns 238,465 shares of the business services provider’s stock worth $12,839,000 after purchasing an additional 4,358 shares during the period. 75.26% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

HNI Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.32 annualized dividend and a dividend yield of 2.66%. HNI’s payout ratio is 51.16%.

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.