Hooker Furnishings Corp. (NASDAQ:HOFT) Announces Quarterly Dividend of $0.12

Hooker Furnishings Corp. (NASDAQ:HOFT) announced a quarterly dividend on Tuesday, June 9th. Investors of record on Friday, June 19th will be paid a dividend of 0.115 per share on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Thursday, June 18th.

Hooker Furnishings has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 9 consecutive years. Hooker Furnishings has a dividend payout ratio of 34.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Hooker Furnishings to earn $1.29 per share next year, which means the company should continue to be able to cover its $0.46 annual dividend with an expected future payout ratio of 35.7%.

Hooker Furnishings Price Performance

Shares of HOFT stock opened at $12.27 on Wednesday. The stock has a 50-day moving average price of $13.00 and a 200 day moving average price of $12.63. The company has a quick ratio of 1.60, a current ratio of 3.37 and a debt-to-equity ratio of 0.02. The firm has a market cap of $132.27 million, a price-to-earnings ratio of -4.83, a PEG ratio of 1.29 and a beta of 1.19. Hooker Furnishings has a 12 month low of $8.61 and a 12 month high of $15.99.

Hooker Furnishings (NASDAQ:HOFT) last announced its quarterly earnings data on Thursday, April 16th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The firm had revenue of $66.98 million during the quarter, compared to analyst estimates of $74.89 million. Hooker Furnishings had a negative return on equity of 0.71% and a negative net margin of 8.84%. Research analysts expect that Hooker Furnishings will post 0.67 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Weiss Ratings lowered Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 18th. Zacks Research upgraded Hooker Furnishings from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 3rd. Finally, Wall Street Zen upgraded Hooker Furnishings from a “sell” rating to a “hold” rating in a report on Sunday, April 19th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.

Hooker Furnishings Company Profile

Hooker Furnishings, formerly known as Hooker Furniture Corporation, is a designer, marketer and distributor of high-quality home furnishings. Headquartered in Martinsville, Virginia, the company offers a broad range of wood and upholstered furniture products across bedroom, dining, home office and accent categories. Its portfolio includes solid wood and engineered wood case goods, upholstered seating, accent tables and decorative accessories, reflecting styles that range from traditional to contemporary.

The company’s operations are organized into three reportable segments: Domestic Wholesale, Retail and Logistics, and International.