$216.65 Million in Sales Expected for Haverty Furniture Companies, Inc. (HVT) This Quarter
Equities research analysts expect that Haverty Furniture Companies, Inc. (NYSE:HVT) will announce sales of $216.65 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Haverty Furniture Companies’ earnings, with the lowest sales estimate coming in at $215.90 million and the highest estimate coming in at $217.40 million. Haverty Furniture Companies posted sales of $211.69 million in the same quarter last year, which suggests a positive year-over-year growth rate of 2.3%. The firm is scheduled to report its next earnings results on Monday, October 30th.
According to Zacks, analysts expect that Haverty Furniture Companies will report full-year sales of $216.65 million for the current financial year, with estimates ranging from $840.40 million to $842.80 million. For the next fiscal year, analysts expect that the firm will post sales of $864.85 million per share, with estimates ranging from $861.40 million to $868.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Haverty Furniture Companies.
Haverty Furniture Companies (NYSE:HVT) last announced its quarterly earnings data on Monday, July 31st. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.10. The firm had revenue of $196.80 million for the quarter, compared to analysts’ expectations of $199.03 million. Haverty Furniture Companies had a return on equity of 10.58% and a net margin of 3.67%. Haverty Furniture Companies’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 earnings per share.
HVT has been the subject of several research analyst reports. Zacks Investment Research cut shares of Haverty Furniture Companies from a “buy” rating to a “hold” rating in a research report on Monday, June 19th. ValuEngine raised shares of Haverty Furniture Companies from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Haverty Furniture Companies has an average rating of “Hold” and a consensus price target of $28.00.
In other Haverty Furniture Companies news, insider Rawson Haverty, Jr. sold 1,964 shares of the firm’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $23.52, for a total value of $46,193.28. Following the completion of the sale, the insider now directly owns 400 shares in the company, valued at $9,408. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rawson Haverty, Jr. sold 1,391 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $23.83, for a total transaction of $33,147.53. The disclosure for this sale can be found here. 10.31% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of HVT. LSV Asset Management boosted its position in Haverty Furniture Companies by 24.6% in the first quarter. LSV Asset Management now owns 1,083,506 shares of the company’s stock valued at $26,383,000 after buying an additional 213,800 shares during the period. AJO LP bought a new stake in shares of Haverty Furniture Companies during the second quarter valued at approximately $3,482,000. James Investment Research Inc. bought a new stake in shares of Haverty Furniture Companies during the second quarter valued at approximately $1,512,000. Norges Bank bought a new stake in shares of Haverty Furniture Companies during the fourth quarter valued at approximately $1,322,000. Finally, Systematic Financial Management LP bought a new stake in shares of Haverty Furniture Companies during the second quarter valued at approximately $1,314,000. Hedge funds and other institutional investors own 78.14% of the company’s stock.
Shares of Haverty Furniture Companies (NYSE HVT) opened at 23.70 on Wednesday. Haverty Furniture Companies has a 12 month low of $16.57 and a 12 month high of $26.30. The stock’s 50 day moving average price is $23.39 and its 200-day moving average price is $23.72. The firm has a market capitalization of $502.87 million, a PE ratio of 16.73 and a beta of 1.11.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 23rd will be paid a $0.15 dividend. This is an increase from Haverty Furniture Companies’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Monday, August 21st. This represents a $0.60 annualized dividend and a yield of 2.53%. Haverty Furniture Companies’s dividend payout ratio is presently 33.80%.
Haverty Furniture Companies Company Profile
Haverty Furniture Companies, Inc is a retailer of residential furniture and accessories. The Company sells home furnishings in its retail stores and through its Website, havertys.com. As of December 31, 2016, the Company had 124 stores in 16 states in the Southern and Midwest regions. As of December 31, 2016, the Company’s retail store space totaled approximately 4.5 million square feet for 124 stores.
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