Havertys (NYSE:HVT) posted its earnings results on Tuesday, May 1st. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.21 by $0.08, Briefing.com reports. Havertys had a return on equity of 9.29% and a net margin of 2.61%. The firm had revenue of $199.44 million during the quarter, compared to the consensus estimate of $202.71 million. During the same period last year, the company earned $0.27 earnings per share. The business’s quarterly revenue was down .5% on a year-over-year basis.
Shares of Havertys opened at $20.15 on Friday, MarketBeat.com reports. The company has a market capitalization of $409.93 million, a price-to-earnings ratio of 16.12 and a beta of 0.98. The company has a quick ratio of 1.15, a current ratio of 2.43 and a debt-to-equity ratio of 0.17. Havertys has a 52 week low of $19.45 and a 52 week high of $19.65.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 8th. Shareholders of record on Wednesday, May 23rd will be paid a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, May 22nd. This represents a $0.72 dividend on an annualized basis and a yield of 3.57%. Havertys’s dividend payout ratio (DPR) is presently 57.60%.
Havertys announced that its Board of Directors has approved a share buyback plan on Tuesday, May 8th that permits the company to repurchase $10.00 million in shares. This repurchase authorization permits the company to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
In related news, VP Jenny H. Parker sold 2,000 shares of Havertys stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $20.50, for a total transaction of $41,000.00. Following the transaction, the vice president now owns 33,354 shares of the company’s stock, valued at $683,757. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.05% of the stock is owned by insiders.
HVT has been the subject of a number of analyst reports. ValuEngine downgraded Havertys from a “hold” rating to a “sell” rating in a research report on Thursday, April 19th. TheStreet downgraded Havertys from a “b” rating to a “c+” rating in a report on Tuesday, February 20th. Finally, Zacks Investment Research downgraded Havertys from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th.
Havertys Company Profile
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, as well as mattress product lines under the Sealy, Tempur-Pedic, Serta, Stearns & Foster, and Beautyrest Black names.
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