HNI Corporation (HNI) Releases FY17 Earnings Guidance

HNI Corporation (HNI) Releases FY17 Earnings Guidance

HNI Corporation (NYSE:HNI) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.80-3.15 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.98. HNI Corporation also updated its Q1 guidance to $0.17-0.24 EPS.

HNI Corporation (NYSE:HNI) opened at 46.52 on Thursday. HNI Corporation has a 12-month low of $30.58 and a 12-month high of $56.96. The firm has a 50-day moving average price of $51.93 and a 200-day moving average price of $49.42. The company has a market cap of $2.07 billion, a P/E ratio of 19.80 and a beta of 1.44.

HNI Corporation (NYSE:HNI) last issued its earnings results on Thursday, February 9th. The company reported $0.82 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.85 by $0.03. The firm had revenue of $581.30 million for the quarter, compared to the consensus estimate of $581.50 million. HNI Corporation had a net margin of 4.82% and a return on equity of 24.76%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same period last year, the firm earned $0.91 earnings per share. On average, analysts forecast that HNI Corporation will post $2.65 earnings per share for the current fiscal year.

A number of research analysts have recently issued reports on the company. Zacks Investment Research upgraded HNI Corporation from a strong sell rating to a hold rating in a report on Tuesday, November 22nd. Sidoti assumed coverage on HNI Corporation in a report on Friday, January 6th. They issued a neutral rating and a $59.00 price target on the stock. Off Wall Street assumed coverage on HNI Corporation in a report on Monday. They issued a sell rating on the stock. Finally, Seaport Global Securities assumed coverage on HNI Corporation in a report on Friday, November 4th. They issued a neutral rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $48.33.

About HNI Corporation

HNI Corporation is a provider of office furniture and hearth products. The Company manufactures and markets gas and wood burning fireplaces. It operates through two segments: office furniture and hearth products. Its office furniture segment manufactures and markets a range 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.

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