Hooker Furnishings Co. (NASDAQ:HOFT) Plans $0.23 Quarterly Dividend

Hooker Furnishings Co. (NASDAQ:HOFT) announced a quarterly dividend on Wednesday, March 5th, RTT News reports. Shareholders of record on Monday, March 17th will be paid a dividend of 0.23 per share on Monday, March 31st. This represents a $0.92 annualized dividend and a yield of 7.52%.

Hooker Furnishings has increased its dividend by an average of 7.5% annually over the last three years. Hooker Furnishings has a dividend payout ratio of 55.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Hooker Furnishings to earn $1.10 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 83.6%.

Hooker Furnishings Stock Performance

Shares of NASDAQ:HOFT traded up $0.01 during midday trading on Wednesday, reaching $12.24. 51,612 shares of the company’s stock traded hands, compared to its average volume of 35,640. Hooker Furnishings has a one year low of $12.06 and a one year high of $24.18. The stock has a 50 day moving average of $13.19 and a 200 day moving average of $15.55. The company has a market cap of $131.09 million, a price-to-earnings ratio of -13.45, a P/E/G ratio of 0.85 and a beta of 1.25. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.76 and a current ratio of 3.16.

Hooker Furnishings (NASDAQ:HOFT) last announced its quarterly earnings results on Thursday, December 5th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.22). Hooker Furnishings had a negative net margin of 2.46% and a negative return on equity of 3.51%. As a group, equities research analysts anticipate that Hooker Furnishings will post -0.44 EPS for the current fiscal year.

Insider Buying and Selling at Hooker Furnishings

In other news, Director Paulette Garafalo sold 2,489 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $17.10, for a total transaction of $42,561.90. Following the completion of the sale, the director now owns 20,783 shares of the company’s stock, valued at $355,389.30. This represents a 10.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Hooker Furnishings from a “hold” rating to a “sell” rating in a report on Friday, February 28th.

Hooker Furnishings Company Profile

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. It operates in three segments: Hooker Branded, Home Meridian, and Domestic Upholstery. The Hooker Branded segment offers design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand; and imported upholstered furniture under the Hooker Upholstery brand.