What is Sidoti Csr's Forecast for HNI FY2024 Earnings?

HNI Co. (NYSE:HNI - Free Report) - Equities researchers at Sidoti Csr decreased their FY2024 earnings estimates for HNI in a research report issued to clients and investors on Wednesday, October 30th. Sidoti Csr analyst G. Burns now expects that the business services provider will post earnings per share of $2.93 for the year, down from their previous estimate of $3.17. The consensus estimate for HNI's current full-year earnings is $3.17 per share. Sidoti Csr also issued estimates for HNI's Q1 2025 earnings at $0.42 EPS, Q2 2025 earnings at $0.86 EPS, Q3 2025 earnings at $1.21 EPS, Q4 2025 earnings at $1.11 EPS, FY2025 earnings at $3.60 EPS, Q1 2026 earnings at $0.50 EPS, Q2 2026 earnings at $0.96 EPS, Q3 2026 earnings at $1.32 EPS and FY2026 earnings at $4.01 EPS.

HNI (NYSE:HNI - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.97 by $0.06. HNI had a net margin of 4.39% and a return on equity of 19.15%. The business had revenue of $672.20 million for the quarter, compared to analysts' expectations of $712.75 million. During the same quarter last year, the company posted $0.93 earnings per share. The company's quarterly revenue was down 5.5% compared to the same quarter last year.

A number of other equities analysts have also recently issued reports on the stock. Benchmark raised their target price on shares of HNI from $57.00 to $63.00 and gave the stock a "buy" rating in a report on Friday, July 26th. StockNews.com cut shares of HNI from a "strong-buy" rating to a "buy" rating in a report on Sunday, October 13th.

HNI Stock Performance

NYSE HNI traded down $0.31 during trading hours on Thursday, reaching $49.32. The company's stock had a trading volume of 381,812 shares, compared to its average volume of 248,944. The company has a current ratio of 1.20, a quick ratio of 0.73 and a debt-to-equity ratio of 0.53. The business has a 50-day simple moving average of $52.56 and a 200 day simple moving average of $48.58. HNI has a 52 week low of $33.26 and a 52 week high of $56.13. The stock has a market cap of $2.33 billion, a PE ratio of 36.62, a PEG ratio of 1.39 and a beta of 0.84.

HNI Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Friday, August 23rd were paid a $0.33 dividend. The ex-dividend date was Friday, August 23rd. This represents a $1.32 annualized dividend and a dividend yield of 2.68%. HNI's payout ratio is currently 97.78%.

Insider Buying and Selling at HNI

In other HNI news, insider Brian Scott Smith sold 2,284 shares of the firm'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 value of $123,336.00. Following the sale, the insider now owns 11,902 shares in the company, valued at approximately $642,708. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Brian Scott Smith sold 2,284 shares of the firm'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 transaction, the insider now owns 11,902 shares in the company, valued at $642,708. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey D. Lorenger sold 72,102 shares of the firm's stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $49.32, for a total transaction of $3,556,070.64. Following the transaction, the chief executive officer now owns 296,892 shares in the company, valued at $14,642,713.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,582 shares of company stock worth $5,597,281. 3.36% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HNI. Principal Financial Group Inc. boosted its holdings in HNI by 1.9% during the third quarter. Principal Financial Group Inc. now owns 238,465 shares of the business services provider's stock worth $12,839,000 after buying an additional 4,358 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in HNI by 4,746.7% during the third quarter. Farther Finance Advisors LLC now owns 2,181 shares of the business services provider's stock worth $117,000 after buying an additional 2,136 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings in HNI by 60.0% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 13,936 shares of the business services provider's stock worth $750,000 after buying an additional 5,226 shares in the last quarter. Eastern Bank bought a new stake in HNI during the third quarter worth approximately $27,000. Finally, Inspire Advisors LLC boosted its holdings in HNI by 2.7% during the third quarter. Inspire Advisors LLC now owns 33,526 shares of the business services provider's stock worth $1,805,000 after buying an additional 870 shares in the last quarter. Institutional investors and hedge funds own 75.26% of the company's stock.

About HNI

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.