Ethan Allen Interiors (NYSE:ETD) Shares Gap Down on Disappointing Earnings

Ethan Allen Interiors Inc. (NYSE:ETD) gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $33.41, but opened at $31.49. Ethan Allen Interiors shares last traded at $29.05, with a volume of 216,934 shares traded.

The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.18). The company had revenue of $146.42 million for the quarter, compared to analyst estimates of $168.15 million. Ethan Allen Interiors had a return on equity of 17.19% and a net margin of 11.37%. The firm’s quarterly revenue was down 21.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.86 earnings per share.

Ethan Allen Interiors Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Tuesday, May 7th will be given a $0.39 dividend. The ex-dividend date is Monday, May 6th. This is a positive change from Ethan Allen Interiors’s previous quarterly dividend of $0.36. This represents a $1.56 annualized dividend and a dividend yield of 5.39%. Ethan Allen Interiors’s dividend payout ratio (DPR) is 46.15%.

Analyst Upgrades and Downgrades

Separately, Telsey Advisory Group reissued a “market perform” rating and issued a $30.00 price objective on shares of Ethan Allen Interiors in a research report on Thursday.

Institutional Trading of Ethan Allen Interiors

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AJOVista LLC bought a new stake in Ethan Allen Interiors in the 4th quarter valued at about $41,000. PNC Financial Services Group Inc. increased its position in Ethan Allen Interiors by 171.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,563 shares of the company’s stock valued at $136,000 after buying an additional 2,884 shares in the last quarter. Arizona State Retirement System bought a new stake in Ethan Allen Interiors in the 4th quarter valued at about $204,000. Kovitz Investment Group Partners LLC bought a new stake in Ethan Allen Interiors in the 3rd quarter valued at about $203,000. Finally, Evergreen Capital Management LLC bought a new stake in Ethan Allen Interiors in the 3rd quarter valued at about $213,000. 83.80% of the stock is owned by institutional investors.

Ethan Allen Interiors Trading Down 13.4 %

The business has a fifty day simple moving average of $32.60 and a 200 day simple moving average of $30.33. The stock has a market capitalization of $735.08 million, a P/E ratio of 9.44 and a beta of 1.22.

Ethan Allen Interiors Company Profile

Ethan Allen Interiors Inc operates as an interior design company, and manufacturer and retailer of home furnishings in the United States, Mexico, Honduras, and Canada. The company operates in two segments, Wholesale and Retail. Its products include case goods items, such as beds, dressers, armoires, tables, chairs, buffets, entertainment units, home office furniture, and wooden accents; upholstery comprising fabric-covered items, such as sleepers, recliners and other motion furniture, chairs, ottomans, custom pillows, sofas, loveseats, cut fabrics, and leather; and home accent items consisting of window treatments and drapery hardware, wall decors, florals, lighting, clocks, mattresses, bedspreads, throws, pillows, decorative accents, area rugs, wall coverings, and home and garden furnishings.