Haverty Furniture Companies (NYSE:HVT) Posts Earnings Results, Beats Estimates By $0.03 EPS

Haverty Furniture Companies (NYSE:HVT) announced its earnings results on Monday. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.03, FiscalAI reports. The business had revenue of $201.92 million during the quarter, compared to the consensus estimate of $197.47 million. Haverty Furniture Companies had a net margin of 2.62% and a return on equity of 6.34%.

Haverty Furniture Companies Stock Down 3.3%

Shares of NYSE HVT opened at $25.31 on Tuesday. The stock’s 50 day moving average price is $25.48 and its two-hundred day moving average price is $23.50. Haverty Furniture Companies has a 52-week low of $17.01 and a 52-week high of $27.67. The stock has a market capitalization of $411.79 million, a P/E ratio of 22.20, a PEG ratio of 1.06 and a beta of 1.32.

Haverty Furniture Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th will be paid a dividend of $0.33 per share. The ex-dividend date is Tuesday, March 10th. This represents a $1.32 annualized dividend and a yield of 5.2%. Haverty Furniture Companies’s dividend payout ratio is presently 115.79%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on HVT shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Haverty Furniture Companies in a report on Monday, December 29th. Zacks Research lowered Haverty Furniture Companies from a “hold” rating to a “strong sell” rating in a research report on Monday, December 29th. Finally, Wall Street Zen raised Haverty Furniture Companies from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 14th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Haverty Furniture Companies presently has a consensus rating of “Reduce”.

Insider Buying and Selling at Haverty Furniture Companies

In related news, Director Rawson Haverty, Jr. sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $24.86, for a total transaction of $186,450.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 8.63% of the company’s stock.

Institutional Trading of Haverty Furniture Companies

Institutional investors and hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in shares of Haverty Furniture Companies in the 2nd quarter worth about $31,000. CANADA LIFE ASSURANCE Co raised its stake in Haverty Furniture Companies by 57.0% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,721 shares of the company’s stock worth $40,000 after acquiring an additional 625 shares during the period. State of Wyoming bought a new position in Haverty Furniture Companies in the second quarter worth about $58,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Haverty Furniture Companies by 7.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,898 shares of the company’s stock valued at $175,000 after acquiring an additional 651 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new position in Haverty Furniture Companies in the fourth quarter valued at approximately $215,000. 80.57% of the stock is owned by institutional investors and hedge funds.

Haverty Furniture Companies Company Profile

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and home décor in the United States. Founded in 1885 by J.J. Haverty and headquartered in Atlanta, Georgia, the company offers a broad assortment of upholstered furniture, case goods, mattresses, area rugs and decorative accessories. Customers can shop through a network of company-owned showrooms as well as an e-commerce platform, supported by in-house design services, delivery options and consumer financing programs.

Over more than a century of operation, Havertys has expanded its presence primarily across the Southeast and select markets beyond.