Herman Miller projected diluted earnings of 44 cents a share to 48 cents a share, while analysts surveyed by Thomson Reuters had expected 48 cents a share.
Late Wednesday, the office furniture maker reported fourth quarter net earnings of 28 cents a share, compared to 40 cents a share in the same period a year ago, due to weak sales in its North American division.
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Separately, TheStreet Ratings team rates MILLER (HERMAN) INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate MILLER (HERMAN) INC (MLHR) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, largely solid financial position with reasonable debt levels by most measures, increase in stock price during the past year and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."