Q3 2016 Earnings Estimate for Haverty Furniture Cos. (HVT) Issued By KeyCorp
Haverty Furniture Cos. (NYSE:HVT) – Investment analysts at KeyCorp cut their Q3 2016 earnings per share (EPS) estimates for Haverty Furniture Cos. in a research note issued on Friday. KeyCorp analyst B. Thomas now expects that the firm will post earnings of $0.36 per share for the quarter, down from their previous forecast of $0.40.
Haverty Furniture Cos. (NYSE:HVT) last announced its quarterly earnings data on Monday, August 1st. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.05. The business had revenue of $194.80 million for the quarter, compared to analysts’ expectations of $194.80 million. Haverty Furniture Cos. had a net margin of 3.30% and a return on equity of 9.05%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $0.21 earnings per share.
Other research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Haverty Furniture Cos. from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Tuesday, August 16th. Raymond James Financial Inc. raised shares of Haverty Furniture Cos. from an “outperform” rating to a “strong-buy” rating and set a $23.00 target price for the company in a research report on Tuesday, August 2nd.
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Haverty Furniture Cos. (NYSE:HVT) opened at 19.76 on Monday. The company has a 50-day moving average of $19.95 and a 200-day moving average of $19.16. The company has a market capitalization of $417.02 million, a PE ratio of 16.55 and a beta of 0.81. Haverty Furniture Cos. has a 52 week low of $16.65 and a 52 week high of $24.54.
Hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its stake in shares of Haverty Furniture Cos. by 107.2% in the second quarter. BNP Paribas Arbitrage SA now owns 6,187 shares of the company’s stock worth $112,000 after buying an additional 3,201 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Haverty Furniture Cos. during the second quarter worth approximately $164,000. BlackRock Inc. boosted its stake in shares of Haverty Furniture Cos. by 696.2% in the second quarter. BlackRock Inc. now owns 9,961 shares of the company’s stock worth $180,000 after buying an additional 8,710 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Haverty Furniture Cos. by 1.9% in the second quarter. Arizona State Retirement System now owns 10,475 shares of the company’s stock worth $189,000 after buying an additional 200 shares during the last quarter. Finally, Springbok Capital Management LLC boosted its stake in shares of Haverty Furniture Cos. by 15.6% in the first quarter. Springbok Capital Management LLC now owns 12,600 shares of the company’s stock worth $267,000 after buying an additional 1,700 shares during the last quarter. Institutional investors own 70.32% of the company’s stock.
In other news, Chairman Clarence H. Smith sold 10,510 shares of the stock in a transaction that occurred on Tuesday, August 16th. The shares were sold at an average price of $20.52, for a total transaction of $215,665.20. Following the completion of the transaction, the chairman now directly owns 56,088 shares of the company’s stock, valued at approximately $1,150,925.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 10.51% of the company’s stock.
Haverty Furniture Cos. Company Profile
Haverty Furniture Companies, Inc is a specialty retailer of residential furniture and accessories. The Company sells home furnishings in its retail stores and through its Website havertys.com. The Company has over 120 stores in approximately 20 states in the southern and Midwest regions with over 4.4 million square feet retail store space.
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