Haverty Furniture Companies, Inc. (NYSE:HVT) – Equities research analysts at KeyCorp dropped their FY2018 EPS estimates for shares of Haverty Furniture Companies in a report issued on Tuesday, January 8th. KeyCorp analyst B. Thomas now forecasts that the company will post earnings of $1.34 per share for the year, down from their prior forecast of $1.42.
Haverty Furniture Companies (NYSE:HVT) last released its quarterly earnings results on Tuesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.01. The firm had revenue of $210.50 million during the quarter, compared to the consensus estimate of $212.43 million. Haverty Furniture Companies had a net margin of 2.89% and a return on equity of 10.11%. The company’s revenue for the quarter was up 1.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 earnings per share.
Several other research analysts have also recently weighed in on the stock. TheStreet cut shares of Haverty Furniture Companies from a “b” rating to a “c+” rating in a research report on Thursday, December 20th. ValuEngine cut shares of Haverty Furniture Companies from a “hold” rating to a “sell” rating in a research report on Saturday, December 1st. Finally, Zacks Investment Research cut shares of Haverty Furniture Companies from a “buy” rating to a “hold” rating in a research report on Saturday, November 3rd.
HVT stock opened at $19.55 on Friday. The company has a quick ratio of 1.21, a current ratio of 2.28 and a debt-to-equity ratio of 0.16. Haverty Furniture Companies has a 52-week low of $17.70 and a 52-week high of $24.25. The firm has a market cap of $408.35 million, a PE ratio of 15.64 and a beta of 0.80.
A number of hedge funds have recently bought and sold shares of the stock. First Trust Advisors LP grew its holdings in Haverty Furniture Companies by 17.3% during the 2nd quarter. First Trust Advisors LP now owns 21,883 shares of the company’s stock worth $473,000 after acquiring an additional 3,223 shares during the period. Bank of New York Mellon Corp grew its holdings in Haverty Furniture Companies by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 365,584 shares of the company’s stock worth $7,897,000 after acquiring an additional 2,349 shares during the period. SG Americas Securities LLC acquired a new stake in Haverty Furniture Companies during the 2nd quarter worth $166,000. Schwab Charles Investment Management Inc. grew its holdings in Haverty Furniture Companies by 9.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 229,093 shares of the company’s stock worth $4,949,000 after acquiring an additional 20,234 shares during the period. Finally, BlackRock Inc. grew its holdings in Haverty Furniture Companies by 6.5% during the 2nd quarter. BlackRock Inc. now owns 2,688,407 shares of the company’s stock worth $58,070,000 after acquiring an additional 164,255 shares during the period. Hedge funds and other institutional investors own 82.50% of the company’s stock.
Haverty Furniture Companies announced that its board has approved a share repurchase program on Friday, November 16th that allows the company to buyback $15.00 million in shares. This buyback authorization allows the company to reacquire up to 3.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 17th. Investors of record on Monday, December 3rd were given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend was Friday, November 30th. Haverty Furniture Companies’s dividend payout ratio (DPR) is presently 57.60%.
About Haverty Furniture Companies
Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and accessories in the United States. The company offers furniture merchandise under the Havertys brand name. It also provides custom upholstery products, as well as mattress product lines under the Sealy, Tempur-Pedic, Serta, Stearns & Foster, and Beautyrest Black names.
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