MillerKnoll, Inc. (NASDAQ:MLKN – Get Free Report)’s stock price gapped down before the market opened on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $27.47, but opened at $24.25. MillerKnoll shares last traded at $22.98, with a volume of 373,724 shares traded.
The company reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.04). The company had revenue of $861.50 million for the quarter, compared to the consensus estimate of $889.38 million. MillerKnoll had a return on equity of 10.94% and a net margin of 2.27%. The firm’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 earnings per share.
MillerKnoll Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Saturday, August 31st will be paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Friday, August 30th. MillerKnoll’s payout ratio is currently 67.57%.
Wall Street Analysts Forecast Growth
Get Our Latest Research Report on MLKN
Hedge Funds Weigh In On MillerKnoll
Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in MillerKnoll by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 8,987,024 shares of the company’s stock valued at $222,519,000 after purchasing an additional 226,792 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of MillerKnoll by 15.3% in the second quarter. Pacer Advisors Inc. now owns 4,015,462 shares of the company’s stock valued at $106,370,000 after purchasing an additional 532,427 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in MillerKnoll by 12.5% in the second quarter. Dimensional Fund Advisors LP now owns 3,392,354 shares of the company’s stock worth $89,864,000 after purchasing an additional 377,121 shares during the period. Hennessy Advisors Inc. increased its holdings in MillerKnoll by 18.1% in the 2nd quarter. Hennessy Advisors Inc. now owns 1,178,800 shares of the company’s stock valued at $31,226,000 after buying an additional 180,500 shares during the period. Finally, LSV Asset Management raised its stake in shares of MillerKnoll by 0.7% in the 1st quarter. LSV Asset Management now owns 1,059,546 shares of the company’s stock valued at $26,234,000 after buying an additional 6,846 shares in the last quarter. 87.50% of the stock is currently owned by institutional investors.
MillerKnoll Stock Down 15.5 %
The company has a current ratio of 1.53, a quick ratio of 0.92 and a debt-to-equity ratio of 0.93. The business’s fifty day moving average price is $28.53 and its 200 day moving average price is $27.51. The company has a market capitalization of $1.66 billion, a P/E ratio of 21.22, a P/E/G ratio of 0.99 and a beta of 1.18.
About MillerKnoll
MillerKnoll, Inc researches, designs, manufactures, and distributes interior furnishings worldwide. It operates through three segments: Americas Contract, International Contract & Specialty, and Global Retail. The company also provides seating products, furniture systems, other freestanding furniture elements, textiles, leather, felt, home furnishings and related services, casegoods, storage products, as well as residential, education, and healthcare furniture solutions.
See Also
- Five stocks we like better than MillerKnoll
- Investing In Preferred Stock vs. Common Stock
- FedEx Stock Dips: Another Reason to Fear Recession Is Near
- How Investors Can Identify and Successfully Trade Gap-Down Stocks
- The Half-Penny Revolution: Will SEC’s Reform Benefit Investors?
- What Are Dividend Contenders? Investing in Dividend Contenders
- Mastercard: Investing in AI and Cybersecurity to Beat Out Visa
Receive News & Ratings for MillerKnoll Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MillerKnoll and related companies with MarketBeat.com's FREE daily email newsletter.