For its first fiscal quarter (ending March 31), HNI Corp (NYSE: HNI) has reported a 850% increase in E.P.S. from $0.04 a year ago to $0.38 in the current quarter. This result exceeded the consensus estimate of $0.25 by $0.14. For the latest four quarters through March 31, E.P.S. were $1.38 versus $2.69 for the same period a year ago — a decline of -49%.
Recent Price Action
HNI Corp (NYSE: HNI) stock increased 1.2% on 4/29/24. The shares closed at $42.99. Moreover, this advance was accompanied by unusually high trading volume at 163% of normal. The stock has been exceptionally strong relative to the market over the last nine months and has risen 2.0% during the last week.
Current PriceTarget Research Rating
HNI is expected to continue to be an important Value Builder reflecting capital returns that are forecasted to exceed the cost of capital.
HNI has a current Value Trend Rating of B (Positive). The Value Trend Rating reflects inconsistent signals from PTR’s two proprietary measures of a stock’s attractiveness. HNI has a neutral Appreciation Score of 40 but a very high Power Rating of 95, and the Positive Value Trend Rating results.
Rating Review
In light of this encouraging new earnings information and positive market action we are reviewing our current Overall Rating of B. We would continue to view the shares with optimism pending completion of this review in the next several days.
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