Bassett Furniture Industries, Incorporated (BSET) Given $39.00 Average Price Target by Brokerages
Bassett Furniture Industries, Incorporated (NASDAQ:BSET) has received an average broker rating score of 3.00 (Hold) from the one analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation.
Analysts have set a one year consensus target price of $39.00 for the company and are expecting that the company will post $0.52 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Bassett Furniture Industries an industry rank of 85 out of 265 based on the ratings given to its competitors.
A number of equities research analysts have recently weighed in on BSET shares. ValuEngine upgraded Bassett Furniture Industries from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Stifel Nicolaus restated a “hold” rating and set a $39.00 target price (up previously from $36.00) on shares of Bassett Furniture Industries in a research report on Saturday, September 30th. Zacks Investment Research downgraded Bassett Furniture Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 29th. Finally, BidaskClub downgraded Bassett Furniture Industries from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th.
Bassett Furniture Industries (NASDAQ:BSET) last released its earnings results on Thursday, September 28th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The company had revenue of $114.30 million during the quarter, compared to the consensus estimate of $110.65 million. Bassett Furniture Industries had a return on equity of 9.17% and a net margin of 4.09%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.38 earnings per share. equities analysts forecast that Bassett Furniture Industries will post 1.76 earnings per share for the current fiscal year.
The company also recently announced a special dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, November 30th. This represents a dividend yield of 1.17%. This is an increase from Bassett Furniture Industries’s previous special dividend of $0.30. Bassett Furniture Industries’s payout ratio is presently 25.73%.
In related news, SVP Bruce Cohenour sold 9,900 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $38.50, for a total value of $381,150.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider John E. Bassett III sold 2,000 shares of the company’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $40.25, for a total value of $80,500.00. The disclosure for this sale can be found here. Insiders sold 12,550 shares of company stock valued at $487,124 in the last quarter. 6.40% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Bassett Furniture Industries by 0.8% in the first quarter. Vanguard Group Inc. now owns 483,465 shares of the company’s stock valued at $13,005,000 after purchasing an additional 3,978 shares during the last quarter. California Public Employees Retirement System increased its holdings in Bassett Furniture Industries by 8.6% in the second quarter. California Public Employees Retirement System now owns 51,700 shares of the company’s stock valued at $1,962,000 after purchasing an additional 4,100 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in Bassett Furniture Industries by 25.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 18,849 shares of the company’s stock valued at $715,000 after purchasing an additional 3,855 shares during the last quarter. Voya Investment Management LLC bought a new stake in Bassett Furniture Industries in the second quarter valued at about $272,000. Finally, LSV Asset Management increased its holdings in Bassett Furniture Industries by 102.2% in the second quarter. LSV Asset Management now owns 8,900 shares of the company’s stock valued at $337,000 after purchasing an additional 4,499 shares during the last quarter. Institutional investors and hedge funds own 71.67% of the company’s stock.
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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.
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