Haverty Furniture Companies, Inc. (NYSE:HVT) Expected to Announce Quarterly Sales of $218.15 Million

Brokerages predict that Haverty Furniture Companies, Inc. (NYSE:HVT) will report sales of $218.15 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Haverty Furniture Companies’ earnings. The highest sales estimate is $220.40 million and the lowest is $215.90 million. Haverty Furniture Companies posted sales of $211.69 million in the same quarter last year, which suggests a positive year-over-year growth rate of 3.1%. The company is scheduled to report its next earnings results on Monday, October 30th.

On average, analysts expect that Haverty Furniture Companies will report full-year sales of $218.15 million for the current fiscal year, with estimates ranging from $840.40 million to $846.00 million. For the next financial year, analysts anticipate that the business will report sales of $866.00 million per share, with estimates ranging from $861.40 million to $870.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Haverty Furniture Companies.

Haverty Furniture Companies (NYSE:HVT) last posted its quarterly earnings results on Monday, July 31st. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.10. Haverty Furniture Companies had a return on equity of 10.58% and a net margin of 3.67%. The firm had revenue of $196.80 million during the quarter, compared to the consensus estimate of $199.03 million. During the same quarter in the previous year, the business earned $0.24 earnings per share. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year.

A number of analysts have recently issued reports on the company. Zacks Investment Research lowered Haverty Furniture Companies from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. ValuEngine raised shares of Haverty Furniture Companies from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $28.00.

Haverty Furniture Companies (NYSE HVT) traded down 0.20% during midday trading on Friday, reaching $25.05. The company’s stock had a trading volume of 121,642 shares. Haverty Furniture Companies has a 12 month low of $16.57 and a 12 month high of $26.30. The firm has a market capitalization of $530.48 million, a price-to-earnings ratio of 17.68 and a beta of 1.11. The stock’s 50-day moving average price is $23.34 and its 200-day moving average price is $23.53.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Wednesday, August 23rd will be paid a $0.15 dividend. This is an increase from Haverty Furniture Companies’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.40%. Haverty Furniture Companies’s dividend payout ratio is 33.80%.

In other news, insider Rawson Haverty, Jr. sold 1,964 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $23.52, for a total value of $46,193.28. Following the transaction, the insider now directly owns 400 shares of the company’s stock, valued at $9,408. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven G. Burdette sold 4,800 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $23.50, for a total transaction of $112,800.00. Following the completion of the transaction, the insider now directly owns 3,657 shares in the company, valued at $85,939.50. The disclosure for this sale can be found here. Insiders sold 8,727 shares of company stock worth $208,991 over the last ninety days. 10.31% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of HVT. Norges Bank bought a new position in Haverty Furniture Companies during the fourth quarter worth $1,322,000. Dynamic Technology Lab Private Ltd bought a new position in Haverty Furniture Companies during the first quarter worth $733,000. Bank of New York Mellon Corp increased its position in Haverty Furniture Companies by 5.9% in the first quarter. Bank of New York Mellon Corp now owns 318,730 shares of the company’s stock worth $7,761,000 after buying an additional 17,674 shares during the period. Arizona State Retirement System increased its position in Haverty Furniture Companies by 2.0% in the first quarter. Arizona State Retirement System now owns 10,075 shares of the company’s stock worth $245,000 after buying an additional 200 shares during the period. Finally, Acadian Asset Management LLC increased its position in Haverty Furniture Companies by 42.7% in the first quarter. Acadian Asset Management LLC now owns 34,161 shares of the company’s stock worth $832,000 after buying an additional 10,225 shares during the period. 78.75% of the stock is currently owned by institutional investors and hedge funds.

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About Haverty Furniture Companies

Haverty Furniture Companies, Inc is a retailer of residential furniture and accessories. The Company sells home furnishings in its retail stores and through its Website, havertys.com. As of December 31, 2016, the Company had 124 stores in 16 states in the Southern and Midwest regions. As of December 31, 2016, the Company’s retail store space totaled approximately 4.5 million square feet for 124 stores.

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