Brokerages expect that Bassett Furniture Industries, Incorporated (NASDAQ:BSET) will post earnings of $0.34 per share for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Bassett Furniture Industries’ earnings. The highest EPS estimate is $0.35 and the lowest is $0.32. Bassett Furniture Industries posted earnings per share of ($0.52) during the same quarter last year, which would suggest a positive year over year growth rate of 165.4%. The business is expected to announce its next earnings results on Thursday, July 8th.
According to Zacks, analysts expect that Bassett Furniture Industries will report full year earnings of $1.74 per share for the current fiscal year, with EPS estimates ranging from $1.70 to $1.78. For the next year, analysts forecast that the company will post earnings of $1.86 per share, with EPS estimates ranging from $1.79 to $1.92. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for Bassett Furniture Industries.
Bassett Furniture Industries (NASDAQ:BSET) last released its earnings results on Wednesday, March 31st. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.16. Bassett Furniture Industries had a negative net margin of 5.80% and a negative return on equity of 0.63%.
Shares of NASDAQ:BSET traded up $0.29 during trading on Tuesday, reaching $25.94. 34,518 shares of the company’s stock traded hands, compared to its average volume of 85,167. The stock has a market capitalization of $257.07 million, a P/E ratio of -11.74, a price-to-earnings-growth ratio of 0.89 and a beta of 1.56. Bassett Furniture Industries has a 12 month low of $4.92 and a 12 month high of $28.10. The company has a 50 day moving average of $23.46 and a 200-day moving average of $19.42.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 28th. Shareholders of record on Friday, May 14th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.93%. The ex-dividend date is Thursday, May 13th. Bassett Furniture Industries’s dividend payout ratio (DPR) is 111.11%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ancora Advisors LLC boosted its position in shares of Bassett Furniture Industries by 213.6% during the fourth quarter. Ancora Advisors LLC now owns 206,590 shares of the company’s stock worth $4,148,000 after buying an additional 140,710 shares during the period. Morgan Stanley increased its position in Bassett Furniture Industries by 5,774.2% in the 3rd quarter. Morgan Stanley now owns 120,892 shares of the company’s stock valued at $1,654,000 after acquiring an additional 118,834 shares during the period. ExodusPoint Capital Management LP bought a new stake in Bassett Furniture Industries during the 4th quarter valued at $920,000. Bank of New York Mellon Corp acquired a new position in Bassett Furniture Industries during the 4th quarter worth $742,000. Finally, Squarepoint Ops LLC bought a new position in shares of Bassett Furniture Industries in the third quarter worth $448,000. 54.41% of the stock is currently owned by institutional investors.
About Bassett Furniture Industries
Bassett Furniture Industries, Incorporated engages in the manufacture, marketing, and retail of home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail Â-company-owned Stores, and Logistical Services. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products to a network of company-owned retail stores and licensee-owned stores, and independent furniture retailers; and wood and upholstery operations.
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