MillerKnoll (NASDAQ:MLKN) Releases FY 2024 Earnings Guidance

MillerKnoll (NASDAQ:MLKN) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 1.900-1.980 for the period, compared to the consensus estimate of 2.070. The company issued revenue guidance of -. MillerKnoll also updated its Q4 guidance to $0.49-0.57 EPS.

Analyst Ratings Changes

Separately, StockNews.com raised shares of MillerKnoll from a buy rating to a strong-buy rating in a research report on Tuesday, March 19th.

MillerKnoll Price Performance

Shares of MLKN traded up $0.55 during trading hours on Wednesday, reaching $30.53. 1,108,873 shares of the stock traded hands, compared to its average volume of 820,086. The company has a current ratio of 1.56, a quick ratio of 0.93 and a debt-to-equity ratio of 0.90. MillerKnoll has a 52-week low of $13.20 and a 52-week high of $31.33. The company’s 50-day moving average price is $28.65 and its two-hundred day moving average price is $26.07. The company has a market cap of $2.22 billion, a P/E ratio of 44.90, a price-to-earnings-growth ratio of 1.20 and a beta of 1.31.

MillerKnoll Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Saturday, March 2nd will be paid a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Thursday, February 29th. MillerKnoll’s dividend payout ratio (DPR) is 110.30%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MLKN. Captrust Financial Advisors lifted its stake in MillerKnoll by 31.3% in the 2nd quarter. Captrust Financial Advisors now owns 1,551 shares of the company’s stock worth $41,000 after purchasing an additional 370 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in MillerKnoll by 1.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 46,484 shares of the company’s stock worth $1,221,000 after purchasing an additional 606 shares in the last quarter. Penserra Capital Management LLC lifted its stake in MillerKnoll by 6.0% in the 4th quarter. Penserra Capital Management LLC now owns 11,191 shares of the company’s stock worth $235,000 after purchasing an additional 636 shares in the last quarter. Advisor Group Holdings Inc. lifted its stake in MillerKnoll by 23.2% in the 4th quarter. Advisor Group Holdings Inc. now owns 3,588 shares of the company’s stock worth $75,000 after purchasing an additional 675 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake in MillerKnoll by 7.3% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 11,033 shares of the company’s stock worth $226,000 after purchasing an additional 748 shares in the last quarter. Hedge funds and other institutional investors own 87.50% of the company’s stock.

About MillerKnoll

MillerKnoll, Inc researches, designs, manufactures, and distributes interior furnishings worldwide. It operates through three segments: Americas Contract, International Contract & Specialty, and Global Retail. The company also provides seating products, furniture systems, other freestanding furniture elements, textiles, leather, felt, home furnishings and related services, casegoods, storage products, as well as residential, education, and healthcare furniture solutions.