Ethan Allen Interiors (NYSE:ETD) Shares Gap Down on Disappointing Earnings

Ethan Allen Interiors Inc. (NYSE:ETD) shares gapped down before the market opened on Thursday following a dissappointing earnings announcement. The stock had previously closed at $33.41, but opened at $31.49. Ethan Allen Interiors shares last traded at $29.05, with a volume of 216,934 shares traded.

The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.18). The firm had revenue of $146.42 million for the quarter, compared to the consensus estimate of $168.15 million. Ethan Allen Interiors had a net margin of 11.37% and a return on equity of 17.19%. The business’s revenue for the quarter was down 21.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 earnings per share.

Ethan Allen Interiors Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Tuesday, May 7th will be paid a $0.39 dividend. This is a positive change from Ethan Allen Interiors’s previous quarterly dividend of $0.36. The ex-dividend date is Monday, May 6th. This represents a $1.56 annualized dividend and a yield of 5.39%. Ethan Allen Interiors’s payout ratio is currently 46.15%.

Analyst Upgrades and Downgrades

Separately, Telsey Advisory Group reaffirmed a “market perform” rating and issued a $30.00 price target on shares of Ethan Allen Interiors in a research note on Thursday.

Hedge Funds Weigh In On Ethan Allen Interiors

A number of institutional investors and hedge funds have recently bought and sold shares of ETD. Linden Thomas Advisory Services LLC boosted its stake in Ethan Allen Interiors by 15.0% in the third quarter. Linden Thomas Advisory Services LLC now owns 11,863 shares of the company’s stock worth $355,000 after purchasing an additional 1,549 shares in the last quarter. Tectonic Advisors LLC boosted its stake in Ethan Allen Interiors by 21.1% in the third quarter. Tectonic Advisors LLC now owns 37,779 shares of the company’s stock worth $1,130,000 after purchasing an additional 6,588 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Ethan Allen Interiors by 6.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,332 shares of the company’s stock worth $369,000 after purchasing an additional 711 shares in the last quarter. Inspire Investing LLC acquired a new position in Ethan Allen Interiors in the third quarter worth $631,000. Finally, Joule Financial LLC lifted its stake in shares of Ethan Allen Interiors by 25.1% during the third quarter. Joule Financial LLC now owns 13,559 shares of the company’s stock valued at $405,000 after acquiring an additional 2,717 shares during the period. Institutional investors and hedge funds own 83.80% of the company’s stock.

Ethan Allen Interiors Price Performance

The firm has a market cap of $735.08 million, a price-to-earnings ratio of 9.44 and a beta of 1.22. The firm has a 50 day moving average price of $32.60 and a 200-day moving average price of $30.33.

Ethan Allen Interiors Company Profile

Ethan Allen Interiors Inc operates as an interior design company, and manufacturer and retailer of home furnishings in the United States, Mexico, Honduras, and Canada. The company operates in two segments, Wholesale and Retail. Its products include case goods items, such as beds, dressers, armoires, tables, chairs, buffets, entertainment units, home office furniture, and wooden accents; upholstery comprising fabric-covered items, such as sleepers, recliners and other motion furniture, chairs, ottomans, custom pillows, sofas, loveseats, cut fabrics, and leather; and home accent items consisting of window treatments and drapery hardware, wall decors, florals, lighting, clocks, mattresses, bedspreads, throws, pillows, decorative accents, area rugs, wall coverings, and home and garden furnishings.