Wall Street analysts forecast that Bassett Furniture Industries, Incorporated (NASDAQ:BSET) will announce $110.85 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Bassett Furniture Industries,’s earnings. The highest sales estimate is $111.70 million and the lowest is $110.00 million. Bassett Furniture Industries, posted sales of $106.67 million during the same quarter last year, which suggests a positive year-over-year growth rate of 3.9%. The business is scheduled to issue its next quarterly earnings report on Thursday, June 29th.

On average, analysts expect that Bassett Furniture Industries, will report full-year sales of $110.85 million for the current fiscal year, with estimates ranging from $444.20 million to $444.89 million. For the next financial year, analysts anticipate that the company will report sales of $464.00 million per share. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Bassett Furniture Industries,.

Bassett Furniture Industries, (NASDAQ:BSET) last issued its quarterly earnings results on Thursday, March 30th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.29 by $0.02. The firm had revenue of $105.90 million for the quarter, compared to the consensus estimate of $108.90 million. Bassett Furniture Industries, had a net margin of 3.59% and a return on equity of 8.62%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.30 earnings per share.

Separately, Zacks Investment Research upgraded shares of Bassett Furniture Industries, from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Monday, April 3rd.

ILLEGAL ACTIVITY WARNING: This news story was first posted by American Banking News and is the property of of American Banking News. If you are accessing this news story on another site, it was copied illegally and reposted in violation of United States and international trademark & copyright laws. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/06/18/110-85-million-in-sales-expected-for-bassett-furniture-industries-incorporated-bset-this-quarter.html.

Bassett Furniture Industries, (NASDAQ:BSET) opened at 31.95 on Friday. The company has a market capitalization of $342.50 million, a P/E ratio of 22.33 and a beta of 1.17. The company’s 50-day moving average is $30.11 and its 200 day moving average is $28.66. Bassett Furniture Industries, has a one year low of $22.42 and a one year high of $32.50.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royce & Associates LP raised its position in Bassett Furniture Industries, by 6.7% in the first quarter. Royce & Associates LP now owns 1,046,070 shares of the company’s stock worth $28,139,000 after buying an additional 66,070 shares during the last quarter. Punch & Associates Investment Management Inc. raised its position in Bassett Furniture Industries, by 96.6% in the first quarter. Punch & Associates Investment Management Inc. now owns 57,000 shares of the company’s stock worth $1,533,000 after buying an additional 28,000 shares during the last quarter. Bessemer Group Inc. purchased a new position in Bassett Furniture Industries, during the fourth quarter worth about $740,000. Teton Advisors Inc. raised its position in Bassett Furniture Industries, by 15.3% in the first quarter. Teton Advisors Inc. now owns 179,905 shares of the company’s stock worth $4,839,000 after buying an additional 23,905 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its position in Bassett Furniture Industries, by 3.3% in the first quarter. Gamco Investors INC. ET AL now owns 552,965 shares of the company’s stock worth $14,875,000 after buying an additional 17,460 shares during the last quarter. 71.35% of the stock is currently owned by hedge funds and other institutional investors.

About Bassett Furniture Industries,

Bassett Furniture Industries, Incorporated is a manufacturer, importer and retailer of home furnishings. The Company’s segments include Wholesale, Retail – Company-owned stores and Logistical services. Its wholesale home furnishings segment is involved in the design, manufacture, sourcing, sale and distribution of furniture products to a network of Bassett stores (licensee-owned stores and Company-owned stores) and independent furniture retailers.

Get a free copy of the Zacks research report on Bassett Furniture Industries, (BSET)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Bassett Furniture Industries Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Bassett Furniture Industries Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.