Will go back to 30's IMO. Guidance also looks good. Go MLHR!
They only beat the number because they BORROWED money to overpay for their own stock (average price of over $32/share) thus reducing outstanding shares.If not for this silly purchase, they would NOT have even met the number.Now they owe more money and their earnings and sales are down. This is NOT good and tomorrows drop will reflect that.
No, they beat the already adjusted number by a nickel. Analysts knew that the share number would be lower.TheStreet.com has raised their rating on the stock to buy because their numbers are holding up better than others in the industry but selling at a lower multiple.http://www.thestreet.com/story/10438171/3/tsc-ratings-updates-herman-miller.html
with a BETA of .63 it isn't heading to $30 range any time soon...plus this market is rough