HNI Co. (NYSE:HNI) to Post Q2 2024 Earnings of $0.60 Per Share, Sidoti Csr Forecasts

HNI Co. (NYSE:HNI) – Equities research analysts at Sidoti Csr dropped their Q2 2024 earnings per share estimates for shares of HNI in a research report issued on Tuesday, April 30th. Sidoti Csr analyst G. Burns now anticipates that the business services provider will post earnings per share of $0.60 for the quarter, down from their prior forecast of $0.63. The consensus estimate for HNI’s current full-year earnings is $2.93 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:HNI) last released its earnings results on Monday, April 29th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.19. The firm had revenue of $588.00 million for the quarter, compared to analyst estimates of $574.56 million. HNI had a return on equity of 17.75% and a net margin of 2.57%. The company’s revenue was up 22.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.13 EPS.

A number of other analysts also recently commented on HNI. Benchmark raised their price objective on HNI from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday. StockNews.com downgraded HNI from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 8th.

HNI Stock Performance

HNI opened at $41.87 on Wednesday. The firm has a market capitalization of $1.98 billion, a P/E ratio of 31.01, a price-to-earnings-growth ratio of 1.22 and a beta of 0.86. The stock’s 50 day moving average price is $43.25 and its two-hundred day moving average price is $41.03. The company has a quick ratio of 0.73, a current ratio of 1.29 and a debt-to-equity ratio of 0.61. HNI has a 12-month low of $24.81 and a 12-month high of $45.47.

HNI Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 6th. Shareholders of record on Monday, February 26th were given a $0.32 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.28 annualized dividend and a yield of 3.06%. HNI’s payout ratio is 94.81%.

Insider Buying and Selling at HNI

In other news, Director Mary A. Bell sold 2,898 shares of HNI stock in a transaction on Friday, March 15th. The stock was sold at an average price of $43.13, for a total value of $124,990.74. Following the completion of the sale, the director now directly owns 76,183 shares of the company’s stock, valued at approximately $3,285,772.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Miguel M. Calado sold 2,500 shares of HNI 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 of the company’s stock, valued at $1,590,114.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mary A. Bell sold 2,898 shares of HNI stock in a transaction on Friday, March 15th. The stock was sold at an average price of $43.13, for a total value of $124,990.74. Following the sale, the director now directly owns 76,183 shares of the company’s stock, valued at $3,285,772.79. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,374 shares of company stock worth $749,534. 3.36% of the stock is currently owned by insiders.

Institutional Investors Weigh In On HNI

A number of institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets grew its stake in shares of HNI by 86.6% during the first quarter. BNP Paribas Financial Markets now owns 35,859 shares of the business services provider’s stock worth $1,618,000 after purchasing an additional 16,646 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of HNI during the first quarter worth $245,000. Oxford Financial Group LTD. LLC lifted its holdings in HNI by 58.0% during the fourth quarter. Oxford Financial Group LTD. LLC now owns 51,867 shares of the business services provider’s stock worth $2,170,000 after acquiring an additional 19,032 shares in the last quarter. Intrinsic Edge Capital Management LLC bought a new position in HNI during the fourth quarter worth about $3,906,000. Finally, KBC Group NV lifted its holdings in HNI by 18.7% during the fourth quarter. KBC Group NV now owns 8,873 shares of the business services provider’s stock worth $371,000 after acquiring an additional 1,397 shares in the last quarter. 75.26% of the stock is owned by institutional investors and hedge funds.

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.