Wall Street brokerages expect Haverty Furniture Companies, Inc. (NYSE:HVT) to announce earnings per share of $0.40 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Haverty Furniture Companies’ earnings, with the highest EPS estimate coming in at $0.45 and the lowest estimate coming in at $0.35. Haverty Furniture Companies also posted earnings of $0.40 per share during the same quarter last year. The firm is scheduled to issue its next earnings report on Tuesday, February 19th.
On average, analysts expect that Haverty Furniture Companies will report full-year earnings of $1.37 per share for the current fiscal year, with EPS estimates ranging from $1.32 to $1.42. For the next financial year, analysts anticipate that the business will post earnings of $1.38 per share, with EPS estimates ranging from $1.37 to $1.39. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Haverty Furniture Companies.
Haverty Furniture Companies (NYSE:HVT) last issued its quarterly earnings data on Tuesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.01. The company had revenue of $210.50 million for 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 firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.28 earnings per share.
A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Haverty Furniture Companies by 2.6% during the third quarter. BlackRock Inc. now owns 2,757,576 shares of the company’s stock valued at $60,943,000 after purchasing an additional 69,169 shares during the period. Renaissance Technologies LLC raised its position in Haverty Furniture Companies by 0.6% in the third quarter. Renaissance Technologies LLC now owns 1,503,300 shares of the company’s stock worth $33,223,000 after acquiring an additional 8,400 shares during the period. Royce & Associates LP raised its position in Haverty Furniture Companies by 2.8% in the third quarter. Royce & Associates LP now owns 1,303,700 shares of the company’s stock worth $28,812,000 after acquiring an additional 34,900 shares during the period. Vanguard Group Inc. raised its position in Haverty Furniture Companies by 2.4% in the third quarter. Vanguard Group Inc. now owns 1,124,571 shares of the company’s stock worth $24,852,000 after acquiring an additional 26,333 shares during the period. Finally, Northern Trust Corp raised its position in Haverty Furniture Companies by 1.8% in the second quarter. Northern Trust Corp now owns 681,597 shares of the company’s stock worth $14,723,000 after acquiring an additional 11,748 shares during the period. Institutional investors own 82.63% of the company’s stock.
Haverty Furniture Companies stock traded down $0.25 during midday trading on Monday, reaching $19.82. 158,718 shares of the company traded hands, compared to its average volume of 92,764. The company has a market cap of $416.23 million, a price-to-earnings ratio of 15.86 and a beta of 0.82. Haverty Furniture Companies has a 12 month low of $17.70 and a 12 month high of $24.45. The company has a quick ratio of 1.21, a current ratio of 2.28 and a debt-to-equity ratio of 0.16.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be given a dividend of $0.18 per share. The ex-dividend date is Friday, November 30th. This represents a $0.72 dividend on an annualized basis and a yield of 3.63%. Haverty Furniture Companies’s dividend payout ratio (DPR) is 57.60%.
Haverty Furniture Companies declared that its Board of Directors has authorized a share buyback plan on Friday, November 16th that authorizes the company to buyback $15.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 3.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
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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