Herman Miller (NASDAQ:MLHR) Posts Earnings Results, Beats Expectations By $0.04 EPS

Herman Miller (NASDAQ:MLHR) issued its quarterly earnings data on Wednesday. The business services provider reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.04, MarketWatch Earnings reports. The firm had revenue of $665.70 million for the quarter, compared to analyst estimates of $679.45 million. Herman Miller had a return on equity of 25.22% and a net margin of 7.86%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same period last year, the company earned $0.64 EPS.

MLHR opened at $19.38 on Friday. The stock has a market cap of $1.04 billion, a PE ratio of 5.46 and a beta of 1.63. The company has a quick ratio of 1.00, a current ratio of 1.26 and a debt-to-equity ratio of 0.55. The business has a 50 day moving average of $34.19 and a 200-day moving average of $42.18. Herman Miller has a 52 week low of $14.39 and a 52 week high of $49.87.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Saturday, February 29th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date is Thursday, February 27th. Herman Miller’s payout ratio is presently 28.28%.

In other news, insider John J. Mcphee sold 16,494 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $41.03, for a total value of $676,748.82. Following the completion of the transaction, the insider now owns 22,326 shares in the company, valued at approximately $916,035.78. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last 90 days, insiders sold 18,701 shares of company stock valued at $766,834. 0.91% of the stock is currently owned by company insiders.

A number of brokerages have recently weighed in on MLHR. BidaskClub lowered Herman Miller from a “sell” rating to a “strong sell” rating in a research report on Thursday, February 13th. ValuEngine lowered Herman Miller from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 26th. Finally, Sidoti lowered Herman Miller from a “buy” rating to a “neutral” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $48.67.

About Herman Miller

Herman Miller, Inc engages in the research, design, manufacture, and distribution of office furniture systems, seating products, other freestanding furniture elements, textiles, home furnishings, and related services in the United States and internationally. The company provides modular systems under the Canvas Office Landscape, Locale, Public Office Landscape, Layout Studio, Action Office, Ethospace, Arras, and Resolve names; seating products under the Embody, Aeron, Mirra2, Setu, Say, Verus, Celle, Equa, Taper, and Ergon names; and storage products under the Meridian and Tu names.

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Earnings History for Herman Miller (NASDAQ:MLHR)

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