Haverty Furniture Companies, Inc. (NYSE:HVT) Expected to Post Earnings of $0.35 Per Share

Equities analysts forecast that Haverty Furniture Companies, Inc. (NYSE:HVT) will post earnings of $0.35 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Haverty Furniture Companies’ earnings, with the highest EPS estimate coming in at $0.37 and the lowest estimate coming in at $0.33. Haverty Furniture Companies posted earnings per share of $0.45 during the same quarter last year, which indicates a negative year over year growth rate of 22.2%. The firm is expected to announce its next earnings results on Tuesday, February 18th.

On average, analysts expect that Haverty Furniture Companies will report full-year earnings of $1.12 per share for the current year, with EPS estimates ranging from $1.10 to $1.13. For the next financial year, analysts anticipate that the firm will post earnings of $1.25 per share, with EPS estimates ranging from $1.24 to $1.25. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Haverty Furniture Companies.

Haverty Furniture Companies (NYSE:HVT) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.08). The company had revenue of $209.32 million for the quarter, compared to the consensus estimate of $212.04 million. Haverty Furniture Companies had a net margin of 3.16% and a return on equity of 9.22%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the business posted $0.39 earnings per share.

Several analysts recently issued reports on the company. ValuEngine raised Haverty Furniture Companies from a “sell” rating to a “hold” rating in a research note on Tuesday, August 13th. Zacks Investment Research cut Haverty Furniture Companies from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 5th. Finally, TheStreet raised Haverty Furniture Companies from a “c+” rating to a “b” rating in a research note on Friday, September 13th.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC lifted its holdings in Haverty Furniture Companies by 138.4% in the third quarter. Millennium Management LLC now owns 158,038 shares of the company’s stock worth $3,203,000 after buying an additional 569,638 shares during the period. Nuveen Asset Management LLC purchased a new stake in Haverty Furniture Companies in the second quarter worth about $1,906,000. Russell Investments Group Ltd. purchased a new stake in Haverty Furniture Companies in the third quarter worth about $1,605,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Haverty Furniture Companies in the second quarter worth about $1,234,000. Finally, Amundi Pioneer Asset Management Inc. purchased a new stake in Haverty Furniture Companies in the first quarter worth about $1,303,000. 87.98% of the stock is currently owned by institutional investors.

Shares of NYSE HVT traded up $0.28 during trading hours on Wednesday, hitting $20.26. The company’s stock had a trading volume of 89,588 shares, compared to its average volume of 133,730. The stock has a market cap of $392.21 million, a price-to-earnings ratio of 14.27 and a beta of 0.94. Haverty Furniture Companies has a 12 month low of $15.81 and a 12 month high of $25.09. The business has a 50-day simple moving average of $20.04 and a 200-day simple moving average of $18.84.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Monday, November 25th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $0.80 annualized dividend and a dividend yield of 3.95%. Haverty Furniture Companies’s payout ratio is presently 56.34%.

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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