Research Analysts Set Expectations for Bassett Furniture Industries, Incorporated’s Q2 2024 Earnings (NASDAQ:BSET)

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) – Stock analysts at Sidoti Csr decreased their Q2 2024 EPS estimates for Bassett Furniture Industries in a research report issued to clients and investors on Thursday, April 4th. Sidoti Csr analyst A. Lebiedzinski now expects that the company will post earnings of ($0.10) per share for the quarter, down from their prior forecast of $0.10. The consensus estimate for Bassett Furniture Industries’ current full-year earnings is $0.31 per share. Sidoti Csr also issued estimates for Bassett Furniture Industries’ FY2024 earnings at $0.31 EPS.

Bassett Furniture Industries (NASDAQ:BSET) last issued its quarterly earnings results on Thursday, January 25th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.21. The business had revenue of $94.70 million for the quarter, compared to the consensus estimate of $90.61 million. Bassett Furniture Industries had a negative return on equity of 0.64% and a negative net margin of 1.57%.

Separately, StockNews.com downgraded Bassett Furniture Industries from a “buy” rating to a “hold” rating in a research report on Saturday.

Bassett Furniture Industries Trading Down 0.5 %

Shares of BSET stock opened at $13.85 on Monday. The business’s fifty day simple moving average is $15.19 and its 200-day simple moving average is $15.56. The company has a market cap of $122.30 million, a PE ratio of -20.67, a PEG ratio of 2.86 and a beta of 1.71. Bassett Furniture Industries has a 12-month low of $13.30 and a 12-month high of $17.89.

Bassett Furniture Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 5.20%. The ex-dividend date is Thursday, May 16th. Bassett Furniture Industries’s payout ratio is presently -107.46%.

Hedge Funds Weigh In On Bassett Furniture Industries

Hedge funds have recently made changes to their positions in the company. Inspire Advisors LLC increased its position in shares of Bassett Furniture Industries by 24.6% in the 3rd quarter. Inspire Advisors LLC now owns 18,418 shares of the company’s stock valued at $270,000 after acquiring an additional 3,641 shares during the period. Barclays PLC increased its position in shares of Bassett Furniture Industries by 42.6% in the 3rd quarter. Barclays PLC now owns 9,502 shares of the company’s stock valued at $140,000 after acquiring an additional 2,837 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Bassett Furniture Industries by 177.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 44,842 shares of the company’s stock valued at $657,000 after acquiring an additional 28,679 shares during the period. Gamco Investors INC. ET AL increased its position in shares of Bassett Furniture Industries by 1.6% in the 3rd quarter. Gamco Investors INC. ET AL now owns 598,277 shares of the company’s stock valued at $8,765,000 after acquiring an additional 9,172 shares during the period. Finally, Koss Olinger Consulting LLC increased its position in shares of Bassett Furniture Industries by 21.0% in the 3rd quarter. Koss Olinger Consulting LLC now owns 17,250 shares of the company’s stock valued at $253,000 after acquiring an additional 2,993 shares during the period. 54.40% of the stock is owned by institutional investors and hedge funds.

About Bassett Furniture Industries

Bassett Furniture Industries, Incorporated, together with its subsidiaries, manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail Company-Owned Stores, and Corporate and Other. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products, including dining, bedroom and bedding, home decorations, rugs, and outdoor furniture to a network of company-owned retail stores, licensee-owned stores, and independent retailers.