Bassett Furniture Industries (NASDAQ:BSET) Issues Quarterly Earnings Results, Beats Estimates By $998.80 EPS

Bassett Furniture Industries (NASDAQ:BSET) announced its earnings results on Wednesday. The company reported $999.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $998.80, Zacks reports. Bassett Furniture Industries had a return on equity of 3.48% and a net margin of 1.61%.

Bassett Furniture Industries Stock Performance

NASDAQ BSET traded up $1.17 on Wednesday, reaching $18.89. The company’s stock had a trading volume of 93,985 shares, compared to its average volume of 36,296. The stock has a market cap of $163.36 million, a PE ratio of 30.46, a PEG ratio of 1.38 and a beta of 0.77. Bassett Furniture Industries has a twelve month low of $13.17 and a twelve month high of $19.75. The firm’s 50 day moving average is $15.00 and its two-hundred day moving average is $15.34.

Institutional Trading of Bassett Furniture Industries

Institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in shares of Bassett Furniture Industries by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 195,368 shares of the company’s stock worth $3,275,000 after purchasing an additional 2,796 shares during the last quarter. State Street Corp lifted its holdings in Bassett Furniture Industries by 5.8% during the 4th quarter. State Street Corp now owns 119,643 shares of the company’s stock worth $2,005,000 after buying an additional 6,558 shares during the period. Bridgeway Capital Management LLC raised its holdings in Bassett Furniture Industries by 10.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 91,786 shares of the company’s stock worth $1,538,000 after purchasing an additional 8,743 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Bassett Furniture Industries by 7.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 50,981 shares of the company’s stock worth $854,000 after acquiring an additional 3,595 shares during the period. Finally, Empowered Funds LLC grew its position in shares of Bassett Furniture Industries by 10.1% during the 4th quarter. Empowered Funds LLC now owns 38,544 shares of the company’s stock worth $646,000 after buying an additional 3,543 shares during the period. Institutional investors and hedge funds own 54.40% of the company’s stock.

Analysts Set New Price Targets

BSET has been the topic of several recent analyst reports. Weiss Ratings cut shares of Bassett Furniture Industries from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, June 15th. Wall Street Zen upgraded Bassett Furniture Industries from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. Finally, Zacks Research upgraded shares of Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a report on Monday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Bassett Furniture Industries has a consensus rating of “Moderate Buy”.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Inc (NASDAQ: BSET), headquartered in Bassett, Virginia, is a vertically integrated manufacturer and retailer of residential home furnishings. The company designs, produces and markets a range of furniture items, including upholstered seating, wood case goods, bedroom collections, dining room sets and home décor accessories. Bassett is known for its emphasis on craftsmanship, offering both ready-to-assemble pieces and made-to-order products that cater to varying design preferences and space requirements.

Bassett’s products are sold through a dual-channel distribution network comprising company-owned Bassett Home Furnishings stores, a franchise and independent dealer network, and an e-commerce platform that provides online shopping, virtual design consultations and customization tools.