HNI (NYSE:HNI) Issues FY 2024 Earnings Guidance

HNI (NYSE:HNI - Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 1.080- for the period, compared to the consensus estimate of 3.200. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com lowered HNI from a "strong-buy" rating to a "buy" rating in a report on Sunday, October 13th. Benchmark lifted their price target on shares of HNI from $57.00 to $63.00 and gave the company a "buy" rating in a research report on Friday, July 26th.

HNI Price Performance

Shares of HNI stock traded down $1.65 during midday trading on Tuesday, reaching $50.18. 578,847 shares of the company traded hands, compared to its average volume of 247,272. The firm's 50 day simple moving average is $52.64 and its two-hundred day simple moving average is $48.51. HNI has a 1-year low of $33.21 and a 1-year high of $56.13. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.20 and a quick ratio of 0.73. The firm has a market cap of $2.37 billion, a PE ratio of 35.82, a price-to-earnings-growth ratio of 1.39 and a beta of 0.84.

HNI Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Friday, August 23rd were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.63%. HNI's payout ratio is 97.78%.

Insider Buying and Selling

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