HNI Corporation (NYSE:HNI) is reporting second quarter financial results on Wednesday 22nd July 2020, after market close.
According to analysts surveyed by Thomson Reuters, HNI is expected to report 2Q20 loss of $ 0.31 per share from revenue of $ 379.94 million.
For the full year, analysts anticipate top line of $ 1923.61 million, while looking forward to income of $ 1.35 per share bottom line.
The Company Outlook
Full Year 2020 topline are forecasted in a range of$ 2,300.00 million ~ $ 2,350.00 million, where as bottomline are predicted in a range of $ 2.60 ~ $ 2.90 per share
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Previous Quarter Performance
HNI Corporation reported income for the first quarter of $ 0.21 per share, from the revenue of $ 468.70 million. The quarterly earnings raised 950.00 percent while revenues contracted 2.24 percent compared with the same quarter last year. Street analysts expected $ 476.51 million. The top line results fell short of analysts by $ 7.81 million or 1.64 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of HNI was $ 30.33, representing a 82.60 % increase from the 52 week low of $ 16.61 and a 29.3 % decrease over the 52 week high of $ 42.90.
The company has a market capital of $ 1.29 billion and is part of the Industrials sector and Business Equipment industry.
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Recent Analyst recommendations
On 18th June 2020, maintained by Benchmark at Buy rating, with $ 38.00 target price.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.305 per share on May 5, 2020. The dividend were payable on June 1, 2020 to holders of record as of the close of business on May 15, 2020 and ex-dividend date on May 14, 2020.
HNI Corporation manufactures and sells office furniture and hearth products in the United States, Canada, China, Hong Kong, India, Mexico, Dubai, Singapore, and Taiwan. Its Office Furniture segment offers a range of commercial and home office furniture, which include storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions and panel systems, and other related products under the HON, Allsteel, Maxon, Gunlocke, HBF, OFM, Lamex, and HNI India brands. This segment sells its products through independent dealers, wholesalers, and office product distributors, as well as directly to end-user customers; and federal, state, and local governments.
