Hooker Furniture (HOFT) Announces Earnings Results, Beats Estimates By $0.04 EPS

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Hooker Furniture (NASDAQ:HOFT) announced its quarterly earnings results on Thursday. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.04, MarketWatch Earnings reports. Hooker Furniture had a return on equity of 15.19% and a net margin of 5.16%. The company had revenue of $171.47 million for the quarter.

Hooker Furniture stock opened at $27.87 on Friday. The company has a current ratio of 3.64, a quick ratio of 1.99 and a debt-to-equity ratio of 0.14. The company has a market cap of $341.42 million, a price-to-earnings ratio of 9.53 and a beta of 0.37. Hooker Furniture has a fifty-two week low of $27.24 and a fifty-two week high of $49.85.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Monday, December 17th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 2.15%. This is a boost from Hooker Furniture’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Friday, December 14th.

In other news, insider Donald Lee Boone acquired 1,000 shares of the business’s stock in a transaction on Friday, September 28th. The shares were acquired at an average cost of $33.90 per share, with a total value of $33,900.00. Following the transaction, the insider now owns 1,000 shares in the company, valued at approximately $33,900. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.50% of the company’s stock.

A number of institutional investors have recently bought and sold shares of HOFT. Meeder Asset Management Inc. boosted its position in shares of Hooker Furniture by 1,726.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,214 shares of the company’s stock worth $108,000 after purchasing an additional 3,038 shares in the last quarter. Acadian Asset Management LLC bought a new stake in shares of Hooker Furniture in the 3rd quarter worth approximately $143,000. Russell Investments Group Ltd. bought a new stake in shares of Hooker Furniture in the 3rd quarter worth approximately $211,000. Voya Investment Management LLC bought a new stake in shares of Hooker Furniture in the 2nd quarter worth approximately $227,000. Finally, Pinnacle Associates Ltd. bought a new stake in shares of Hooker Furniture in the 2nd quarter worth approximately $274,000. 86.67% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently issued reports on the company. BidaskClub upgraded Hooker Furniture from a “strong sell” rating to a “sell” rating in a report on Monday, August 13th. Sidoti downgraded Hooker Furniture from a “buy” rating to a “neutral” rating and set a $43.00 price target on the stock. in a report on Tuesday, September 18th. ValuEngine downgraded Hooker Furniture from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Finally, TheStreet cut Hooker Furniture from a “b” rating to a “c+” rating in a research report on Friday, October 26th.

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Hooker Furniture Company Profile

Hooker Furniture Corporation, together with its subsidiaries, designs, manufactures, imports, and markets residential household furniture products in the United States. It operates through Hooker Branded, Home Meridian, and All Other segments. The Hooker Branded segment offers a range of design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand name; and imported upholstered furniture.

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Earnings History for Hooker Furniture (NASDAQ:HOFT)

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