Haverty Furniture Companies (NYSE:HVT) Issues Quarterly Earnings Results, Beats Expectations By $0.31 EPS

Haverty Furniture Companies (NYSE:HVTGet Rating) posted its quarterly earnings data on Monday. The company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.31, MarketWatch Earnings reports. Haverty Furniture Companies had a net margin of 8.94% and a return on equity of 32.53%. During the same quarter in the prior year, the business earned $1.04 EPS.

HVT traded down $1.23 on Thursday, reaching $26.55. 2,695 shares of the company’s stock were exchanged, compared to its average volume of 150,837. Haverty Furniture Companies has a twelve month low of $24.35 and a twelve month high of $52.84. The stock has a market cap of $450.55 million, a PE ratio of 5.26 and a beta of 1.35. The stock’s fifty day moving average price is $27.74 and its 200-day moving average price is $29.73.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 25th. Stockholders of record on Friday, March 11th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.77%. The ex-dividend date was Thursday, March 10th. Haverty Furniture Companies’s dividend payout ratio is currently 20.08%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in shares of Haverty Furniture Companies by 3.6% during the 4th quarter. BlackRock Inc. now owns 2,731,609 shares of the company’s stock worth $83,506,000 after purchasing an additional 94,980 shares during the last quarter. State Street Corp boosted its stake in Haverty Furniture Companies by 3.7% during the fourth quarter. State Street Corp now owns 583,844 shares of the company’s stock worth $17,848,000 after buying an additional 20,717 shares during the last quarter. Millennium Management LLC grew its holdings in Haverty Furniture Companies by 130.6% in the 4th quarter. Millennium Management LLC now owns 442,736 shares of the company’s stock valued at $13,534,000 after buying an additional 250,777 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Haverty Furniture Companies by 518.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 284,637 shares of the company’s stock worth $8,701,000 after acquiring an additional 238,640 shares during the last quarter. Finally, Morgan Stanley raised its holdings in shares of Haverty Furniture Companies by 57.5% during the 3rd quarter. Morgan Stanley now owns 200,588 shares of the company’s stock worth $6,761,000 after acquiring an additional 73,203 shares during the period. 89.26% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently weighed in on HVT shares. StockNews.com assumed coverage on shares of Haverty Furniture Companies in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Zacks Investment Research upgraded Haverty Furniture Companies from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Monday, February 21st.

About Haverty Furniture Companies (Get Rating)

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 and eclectic looks; and mattress product lines under the Sealy, Stearns and Foster, Tempur-Pedic, and Serta names, as well as private label Skye name.

Further Reading

Earnings History for Haverty Furniture Companies (NYSE:HVT)

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