MidnightTrader Earnings Play: Herman Miller
Herman Miller
(
MLHR |
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PowerRating) is due with Q1 results after the bell tonight. The Street looks for $0.55 per share in profit on $489 million in sales, according to the Thomson Reuters analyst survey.
The stock is one to watch for its consistency. It has put up a wider next-day share move following an evening earnings release in seven of the eight quarters we’ve tracked. Here’s a look at its near-term performance:
On March 19, 2008, MLHR edged down 0.7% in after-hours action despite beating expectations and setting guidance in line with estimates. It dipped further into the red on March 20, losing 3.7% by the closing bell.
No trade data was tracked for earnings issued Dec. 19, 2007.
On Sept. 19, 2007, MLHR fell 4.4% during evening trading after reporting ahead of the Street with Q1 results but guiding for Q2 to miss. The stock fell 5% the next day.
On June 27, 2007, the stock fell 6.3% in the extended-hours session after reporting sales shy of expectations. The loss was a steeper 9.6% the next day.
On March 21, 2007, the stock dropped 6.9% in the evening session after results missed the Street view. The stock dropped 11.6% the next day.
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