Haverty Furniture Companies (NYSE:HVT) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Haverty Furniture Companies (NYSE:HVT) announced its earnings results on Monday. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02, Zacks reports. Haverty Furniture Companies had a net margin of 2.62% and a return on equity of 6.34%. The business had revenue of $201.92 million during the quarter, compared to analysts’ expectations of $197.47 million.

Haverty Furniture Companies Stock Performance

HVT traded down $1.06 during trading on Wednesday, reaching $24.26. 22,048 shares of the company traded hands, compared to its average volume of 68,843. Haverty Furniture Companies has a 12-month low of $17.01 and a 12-month high of $27.67. The firm has a fifty day simple moving average of $25.49 and a 200 day simple moving average of $23.53. The company has a market cap of $394.71 million, a P/E ratio of 21.31, a PEG ratio of 1.02 and a beta of 1.32.

Haverty Furniture Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 5.4%. The ex-dividend date is Tuesday, March 10th. Haverty Furniture Companies’s dividend payout ratio is presently 115.79%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on HVT shares. Wall Street Zen raised Haverty Furniture Companies from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 14th. Weiss Ratings restated a “hold (c)” rating on shares of Haverty Furniture Companies in a research report on Monday, December 29th. Finally, Zacks Research cut Haverty Furniture Companies from a “hold” rating to a “strong sell” rating in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce”.

Insider Activity at Haverty Furniture Companies

In other Haverty Furniture Companies news, Director Rawson Haverty, Jr. sold 7,500 shares of the stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $24.86, for a total transaction of $186,450.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.63% of the company’s stock.

Hedge Funds Weigh In On Haverty Furniture Companies

Several institutional investors have recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new position in shares of Haverty Furniture Companies during the second quarter valued at approximately $31,000. CANADA LIFE ASSURANCE Co lifted its position in shares of Haverty Furniture Companies by 57.0% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 1,721 shares of the company’s stock worth $40,000 after purchasing an additional 625 shares during the last quarter. State of Wyoming purchased a new stake in shares of Haverty Furniture Companies during the second quarter valued at $58,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Haverty Furniture Companies by 7.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,898 shares of the company’s stock worth $175,000 after purchasing an additional 651 shares during the last quarter. Finally, Balyasny Asset Management L.P. bought a new position in shares of Haverty Furniture Companies in the fourth quarter worth about $215,000. Institutional investors own 80.57% of the company’s stock.

Haverty Furniture Companies Company Profile

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and home décor in the United States. Founded in 1885 by J.J. Haverty and headquartered in Atlanta, Georgia, the company offers a broad assortment of upholstered furniture, case goods, mattresses, area rugs and decorative accessories. Customers can shop through a network of company-owned showrooms as well as an e-commerce platform, supported by in-house design services, delivery options and consumer financing programs.

Over more than a century of operation, Havertys has expanded its presence primarily across the Southeast and select markets beyond.