Sidoti Csr Comments on HNI’s FY2024 Earnings (NYSE:HNI)

HNI Co. (NYSE:HNI) – Analysts at Sidoti Csr reduced their FY2024 earnings estimates for HNI in a research note issued to investors on Wednesday, October 30th. Sidoti Csr analyst G. Burns now expects that the business services provider will earn $2.93 per share for the year, down from their prior estimate of $3.17. The consensus estimate for HNI’s current full-year earnings is $2.93 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.

Several other equities research analysts have also issued reports on the stock. StockNews.com raised shares of HNI from a “buy” rating to a “strong-buy” rating in a research report on Thursday. Benchmark lifted their price target on shares of HNI from $57.00 to $63.00 and gave the company a “buy” rating in a report on Friday, July 26th.

HNI Stock Performance

Shares of HNI opened at $49.71 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.73 and a current ratio of 1.09. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 1.41 and a beta of 0.84. HNI has a 1 year low of $36.72 and a 1 year high of $56.13. The company’s 50 day simple moving average is $52.50 and its 200 day simple moving average is $48.58.

HNI (NYSE:HNI) last announced its quarterly earnings results on Tuesday, October 29th. The business services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.05. HNI had a net margin of 4.83% and a return on equity of 19.29%. The company had revenue of $672.20 million for the quarter, compared to the consensus estimate of $712.75 million. During the same quarter in the prior year, the firm earned $0.93 earnings per share. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year.

HNI Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Friday, August 23rd were issued a $0.33 dividend. 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 2.66%. HNI’s payout ratio is currently 51.16%.

Insider Activity

In related news, Director Miguel M. Calado sold 5,299 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $52.96, for a total transaction of $280,635.04. Following the transaction, the director now directly owns 31,159 shares of the company’s stock, valued at approximately $1,650,180.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Mary A. Bell sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $51.85, for a total transaction of $259,250.00. Following the completion of the transaction, the director now directly owns 74,401 shares in the company, valued at $3,857,691.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Miguel M. Calado sold 5,299 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $52.96, for a total transaction of $280,635.04. Following the completion of the transaction, the director now owns 31,159 shares of the company’s stock, valued at approximately $1,650,180.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,582 shares of company stock worth $5,597,281 over the last 90 days. 3.36% of the stock is owned by company insiders.

Institutional Investors Weigh In On HNI

A number of hedge funds have recently added to or reduced their stakes in the stock. CWM LLC raised its holdings in HNI by 3.2% during the 3rd quarter. CWM LLC now owns 7,332 shares of the business services provider’s stock worth $395,000 after buying an additional 225 shares during the period. GAMMA Investing LLC boosted its position in HNI by 51.6% during the third quarter. GAMMA Investing LLC now owns 670 shares of the business services provider’s stock worth $36,000 after purchasing an additional 228 shares during the period. SummerHaven Investment Management LLC boosted its position in HNI by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 27,150 shares of the business services provider’s stock worth $1,222,000 after purchasing an additional 338 shares during the period. Versor Investments LP boosted its position in shares of HNI by 5.2% in the second quarter. Versor Investments LP now owns 8,100 shares of the business services provider’s stock valued at $365,000 after acquiring an additional 400 shares during the period. Finally, Crossmark Global Holdings Inc. boosted its position in shares of HNI by 6.4% in the second quarter. Crossmark Global Holdings Inc. now owns 7,249 shares of the business services provider’s stock valued at $326,000 after acquiring an additional 436 shares during the period. Institutional investors own 75.26% of the company’s stock.

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.