$0.32 EPS Expected for Haverty Furniture Companies, Inc. (HVT) This Quarter
Wall Street analysts expect Haverty Furniture Companies, Inc. (NYSE:HVT) to report $0.32 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Haverty Furniture Companies’ earnings. The highest EPS estimate is $0.34 and the lowest is $0.29. Haverty Furniture Companies posted earnings per share of $0.34 in the same quarter last year, which indicates a negative year-over-year growth rate of 5.9%. The business is expected to report its next quarterly earnings report on Monday, October 30th.
On average, analysts expect that Haverty Furniture Companies will report full year earnings of $1.28 per share for the current financial year, with EPS estimates ranging from $1.20 to $1.36. For the next financial year, analysts forecast that the business will report earnings of $1.37 per share, with EPS estimates ranging from $1.32 to $1.41. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Haverty Furniture Companies.
Haverty Furniture Companies (NYSE:HVT) last posted its quarterly earnings data on Monday, July 31st. The company reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.10. Haverty Furniture Companies had a return on equity of 10.58% and a net margin of 3.67%. The business had revenue of $196.80 million for the quarter, compared to analysts’ expectations of $199.03 million. During the same quarter in the previous year, the firm earned $0.24 earnings per share. The business’s revenue was up 1.0% on a year-over-year basis.
A number of analysts have commented on the company. Zacks Investment Research lowered Haverty Furniture Companies from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. ValuEngine raised 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 given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $28.00.
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Haverty Furniture Companies (NYSE HVT) traded down 0.20% on Friday, reaching $24.60. The company’s stock had a trading volume of 60,659 shares. The company’s 50 day moving average price is $23.74 and its 200-day moving average price is $23.83. The stock has a market cap of $521.96 million, a PE ratio of 17.36 and a beta of 1.06. Haverty Furniture Companies has a 12-month low of $16.57 and a 12-month high of $26.30.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Wednesday, August 23rd were issued a $0.15 dividend. This is a positive change from Haverty Furniture Companies’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Monday, August 21st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.44%. Haverty Furniture Companies’s dividend payout ratio (DPR) is presently 42.25%.
In other news, 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 value of $33,147.53. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 10.31% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new position in shares of Haverty Furniture Companies in the 2nd quarter worth $103,000. Mason Street Advisors LLC boosted its stake in shares of Haverty Furniture Companies by 8.2% in the 1st quarter. Mason Street Advisors LLC now owns 4,514 shares of the company’s stock worth $110,000 after buying an additional 342 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Haverty Furniture Companies by 569.9% in the 1st quarter. Russell Investments Group Ltd. now owns 5,600 shares of the company’s stock worth $136,000 after buying an additional 4,764 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Haverty Furniture Companies by 53.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,165 shares of the company’s stock worth $180,000 after buying an additional 2,501 shares during the last quarter. Finally, Stephens Inc. AR purchased a new position in shares of Haverty Furniture Companies in the 2nd quarter worth $213,000. Hedge funds and other institutional investors own 79.06% of the company’s stock.
About Haverty Furniture Companies
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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