Haverty Furniture Companies (NYSE:HVT) Releases Earnings Results, Beats Expectations By $0.03 EPS

Haverty Furniture Companies (NYSE:HVT) released its earnings results on Monday. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03, FiscalAI reports. Haverty Furniture Companies had a return on equity of 6.34% and a net margin of 2.62%.The company had revenue of $201.92 million during the quarter, compared to the consensus estimate of $197.47 million.

Haverty Furniture Companies Price Performance

Shares of Haverty Furniture Companies stock opened at $25.31 on Tuesday. Haverty Furniture Companies has a 1 year low of $17.01 and a 1 year high of $27.67. The business has a 50 day moving average price of $25.48 and a 200 day moving average price of $23.50. The company has a market capitalization of $411.79 million, a P/E ratio of 22.20, a P/E/G ratio of 1.06 and a beta of 1.32.

Haverty Furniture Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Tuesday, March 10th. Haverty Furniture Companies’s dividend payout ratio (DPR) is 115.79%.

Analysts Set New Price Targets

HVT has been the subject of a number of research reports. Zacks Research downgraded shares of Haverty Furniture Companies from a “hold” rating to a “strong sell” rating in a research report on Monday, December 29th. Wall Street Zen raised Haverty Furniture Companies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Haverty Furniture Companies in a report on Monday, December 29th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce”.

Insider Buying and Selling

In other Haverty Furniture Companies news, Director Rawson Haverty, Jr. sold 7,500 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was 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 this hyperlink. Company insiders own 8.63% of the company’s stock.

Institutional Trading of Haverty Furniture Companies

Large investors have recently made changes to their positions in the stock. Royal Bank of Canada raised its stake in Haverty Furniture Companies by 13.8% in the 1st quarter. Royal Bank of Canada now owns 27,073 shares of the company’s stock valued at $534,000 after purchasing an additional 3,293 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Haverty Furniture Companies by 30.5% during the 1st quarter. AQR Capital Management LLC now owns 162,821 shares of the company’s stock worth $3,211,000 after purchasing an additional 38,074 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Haverty Furniture Companies by 7.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,898 shares of the company’s stock worth $175,000 after buying an additional 651 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Haverty Furniture Companies by 7.4% during the first quarter. Empowered Funds LLC now owns 92,185 shares of the company’s stock worth $1,818,000 after buying an additional 6,387 shares in the last quarter. Finally, Jane Street Group LLC raised its position in shares of Haverty Furniture Companies by 68.7% in the first quarter. Jane Street Group LLC now owns 172,099 shares of the company’s stock valued at $3,394,000 after buying an additional 70,060 shares during the last quarter. Institutional investors and hedge funds own 80.57% of the company’s stock.

About Haverty Furniture Companies

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.