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HNI Updated Its Guidance for 2016

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Nov. 20 2020, Updated 2:15 p.m. ET

Price movement of HNI

HNI Corporation (HNI) has a market cap of $2.1 billion. It fell by 0.56% to close at $46.22 per share on June 15, 2016. The stock’s weekly, monthly, and year-to-date (or YTD) price movements were -3.6%, 5.7%, and 30.0%, respectively, on the same day.

This means that HNI is trading 1.8% above its 20-day moving average, 6.7% above its 50-day moving average, and 16.1% above its 200-day moving average.

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Related ETFs and peers

The Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) invests 0.13% of its holdings in HNI. The ETF tracks a market-cap-weighted index of growth companies culled from the S&P 400. The YTD price movement of IVOG was 3.9% on June 15, 2016.

The Vanguard Small-Cap ETF (VB) invests 0.08% of its holdings in HNI. The ETF tracks the CRSP US Small Cap Index. The market-cap-weighted index includes the bottom 2%–15% of the investable universe.

The market caps of HNI’s competitors are as follows:

  • Steelcase (SCS) — $1.9 billion
  • Herman Miller (MLHR) — $1.9 billion
  • Knoll (KNL) — $1.2 billion

Performance of HNI in fiscal 1Q16

HNI reported fiscal 1Q16 net sales of $501.0 million, a fall of 4.3% compared to net sales of $523.5 million in fiscal 1Q15. The company’s cost of products sold as a percentage of net sales fell by 2.8%, and its operating income rose by 26.6% in fiscal 1Q16 compared to the prior year period. It reported restructuring charges of $1.1 million in fiscal 1Q16 compared to $0.38 million in fiscal 1Q15.

Its net income and EPS (earnings per share) rose to $11.8 million and $0.26, respectively, in fiscal 1Q16 compared to $8.5 million and $0.19, respectively, in fiscal 1Q15.

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HNI’s cash and cash equivalents and inventories rose by 35.4% and 18.1%, respectively, in fiscal 1Q16 compared to fiscal 4Q15. Its current ratio fell to 0.97x and its debt-to-equity ratio rose to 1.7x in fiscal 1Q16 compared to a current ratio and a debt-to-equity ratio of 1.0x and 1.6x, respectively, in fiscal 4Q15.

Projections

HNI Corporation (HNI) has updated its guidance for fiscal 2Q16 and fiscal 2016:

Fiscal 2Q16

  • It expects sales decrease in the range of 6%–8%.
  • It expects non-GAAP EPS in the range of $0.62–$0.67.

Fiscal 2016

  • It expects a sales decrease in the range of 1%–3%.
  • It expects non-GAAP EPS in the range of $2.70–$2.90.

Next, we’ll take a look at Procter & Gamble (PG).

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