Hooker Furnishings (NASDAQ:HOFT) Issues Earnings Results

Hooker Furnishings (NASDAQ:HOFT) announced its quarterly earnings results on Thursday. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.17, FiscalAI reports. The firm had revenue of $69.45 million during the quarter, compared to analysts’ expectations of $66.31 million. Hooker Furnishings had a negative net margin of 8.84% and a negative return on equity of 0.71%.

Hooker Furnishings Stock Performance

NASDAQ HOFT opened at $12.33 on Thursday. The firm has a market cap of $132.92 million, a price-to-earnings ratio of -4.85, a PEG ratio of 1.31 and a beta of 1.19. The company has a 50 day moving average of $12.99 and a 200-day moving average of $12.64. The company has a current ratio of 3.37, a quick ratio of 1.60 and a debt-to-equity ratio of 0.02. Hooker Furnishings has a 1-year low of $8.61 and a 1-year high of $15.99.

Hooker Furnishings Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 19th will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.46 annualized dividend and a dividend yield of 3.7%. Hooker Furnishings’s dividend payout ratio (DPR) is presently -18.11%.

Institutional Trading of Hooker Furnishings

Hedge funds and other institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. increased its holdings in shares of Hooker Furnishings by 940.0% in the second quarter. Osaic Holdings Inc. now owns 10,400 shares of the company’s stock valued at $110,000 after purchasing an additional 9,400 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of Hooker Furnishings in the fourth quarter valued at approximately $117,000. Strs Ohio acquired a new stake in shares of Hooker Furnishings in the first quarter valued at approximately $124,000. LPL Financial LLC increased its holdings in shares of Hooker Furnishings by 16.6% in the fourth quarter. LPL Financial LLC now owns 11,684 shares of the company’s stock valued at $132,000 after purchasing an additional 1,660 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Hooker Furnishings in the first quarter valued at approximately $146,000. Institutional investors and hedge funds own 73.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on HOFT shares. Zacks Research upgraded shares of Hooker Furnishings from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. Wall Street Zen upgraded shares of Hooker Furnishings from a “sell” rating to a “hold” rating in a research note on Sunday, April 19th. Finally, Weiss Ratings cut shares of Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a research note on Monday, May 18th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce”.

About Hooker Furnishings

Hooker Furnishings, formerly known as Hooker Furniture Corporation, is a designer, marketer and distributor of high-quality home furnishings. Headquartered in Martinsville, Virginia, the company offers a broad range of wood and upholstered furniture products across bedroom, dining, home office and accent categories. Its portfolio includes solid wood and engineered wood case goods, upholstered seating, accent tables and decorative accessories, reflecting styles that range from traditional to contemporary.

The company’s operations are organized into three reportable segments: Domestic Wholesale, Retail and Logistics, and International.