Haverty Furniture Companies, Inc. (HVT) Expected to Announce Quarterly Sales of $216.65 Million
Brokerages expect Haverty Furniture Companies, Inc. (NYSE:HVT) to announce sales of $216.65 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Haverty Furniture Companies’ earnings. The highest sales estimate is $217.40 million and the lowest is $215.90 million. Haverty Furniture Companies reported sales of $211.69 million during the same quarter last year, which indicates a positive year over year growth rate of 2.3%. The business is expected to issue its next quarterly earnings results on Monday, October 30th.
On average, analysts expect that Haverty Furniture Companies will report full year sales of $216.65 million for the current year, with estimates ranging from $840.40 million to $842.80 million. For the next year, analysts anticipate that the firm will report sales of $864.85 million per share, with estimates ranging from $861.40 million to $868.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Haverty Furniture Companies.
Haverty Furniture Companies (NYSE:HVT) last released its earnings results on Monday, July 31st. The company reported $0.29 EPS 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 the consensus estimate of $199.03 million. During the same period in the previous year, the company posted $0.24 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year.
HVT has been the topic of a number of analyst reports. Zacks Investment Research downgraded Haverty Furniture Companies from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. ValuEngine upgraded Haverty Furniture Companies from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $28.00.
Shares of Haverty Furniture Companies (HVT) opened at 24.60 on Monday. The firm has a 50-day moving average price of $23.74 and a 200 day moving average price of $23.83. The company has a market capitalization of $521.96 million, a P/E 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 business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Wednesday, August 23rd were issued a $0.15 dividend. The ex-dividend date was Monday, August 21st. This is an increase from Haverty Furniture Companies’s previous quarterly dividend of $0.12. 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 currently 42.25%.
In other news, insider Rawson Haverty, Jr. sold 1,391 shares of Haverty Furniture Companies 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 sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 10.31% of the company’s stock.
Large investors have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in shares of Haverty Furniture Companies in the 2nd quarter valued at $103,000. Mason Street Advisors LLC grew its stake in Haverty Furniture Companies by 8.2% during 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. grew its stake in Haverty Furniture Companies by 569.9% during 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 grew its stake in Haverty Furniture Companies by 53.6% during 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 Haverty Furniture Companies during the 2nd quarter worth $213,000. Institutional investors and hedge funds own 79.06% of the company’s stock.
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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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