Bassett Furniture Industries (BSET) Releases Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Bassett Furniture Industries (NASDAQ:BSET) posted its quarterly earnings results on Thursday. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.06), RTT News reports. The business had revenue of $118.23 million during the quarter, compared to analyst estimates of $118.22 million. Bassett Furniture Industries had a net margin of 4.01% and a return on equity of 9.73%. During the same period in the prior year, the business earned $0.47 earnings per share.

Bassett Furniture Industries (BSET) opened at $35.55 on Friday. The stock has a market capitalization of $390.77, a price-to-earnings ratio of 20.79 and a beta of 1.05. Bassett Furniture Industries has a 1-year low of $24.90 and a 1-year high of $41.30.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 9th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $0.44 annualized dividend and a yield of 1.24%. Bassett Furniture Industries’s dividend payout ratio is presently 25.73%.

Several research firms have recently commented on BSET. Stifel Nicolaus reissued a “hold” rating and issued a $39.00 price target (up from $36.00) on shares of Bassett Furniture Industries in a report on Saturday, September 30th. ValuEngine cut Bassett Furniture Industries from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. BidaskClub cut Bassett Furniture Industries from a “hold” rating to a “sell” rating in a report on Saturday, December 9th. Finally, Zacks Investment Research raised Bassett Furniture Industries from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Thursday, December 28th.

In related news, insider Jay R. Hervey sold 650 shares of Bassett Furniture Industries stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $39.19, for a total transaction of $25,473.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.40% of the company’s stock.

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Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Incorporated is a manufacturer, importer and retailer of home furnishings. The Company’s segments include Wholesale, Retail – Company-owned stores and Logistical services. Its wholesale home furnishings segment is involved in the design, manufacture, sourcing, sale and distribution of furniture products to a network of Bassett stores (licensee-owned stores and Company-owned stores) and independent furniture retailers.

Earnings History for Bassett Furniture Industries (NASDAQ:BSET)

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