Wall Street analysts expect that Haverty Furniture Companies, Inc. (NYSE:HVT) will post $198.25 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Haverty Furniture Companies’ earnings. The lowest sales estimate is $195.50 million and the highest is $201.00 million. Haverty Furniture Companies posted sales of $199.44 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 0.6%. The company is scheduled to report its next quarterly earnings report on Tuesday, May 7th.
On average, analysts expect that Haverty Furniture Companies will report full-year sales of $829.20 million for the current year, with estimates ranging from $819.00 million to $839.40 million. For the next year, analysts forecast that the firm will report sales of $853.70 million, with estimates ranging from $831.30 million to $876.10 million. Zacks’ sales averages are an average based on a survey of research firms that cover Haverty Furniture Companies.
Haverty Furniture Companies (NYSE:HVT) last released its quarterly earnings results on Tuesday, February 19th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.09. Haverty Furniture Companies had a net margin of 3.71% and a return on equity of 10.51%. The firm had revenue of $208.97 million during the quarter, compared to the consensus estimate of $199.91 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The company’s revenue for the quarter was down 2.8% on a year-over-year basis.
Shares of HVT traded down $0.40 during mid-day trading on Thursday, hitting $23.37. 70,197 shares of the company were exchanged, compared to its average volume of 151,084. Haverty Furniture Companies has a 1-year low of $17.70 and a 1-year high of $24.88. The company has a quick ratio of 1.09, a current ratio of 2.29 and a debt-to-equity ratio of 0.17. The company has a market cap of $487.30 million, a PE ratio of 16.46 and a beta of 0.83.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Wednesday, March 13th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, March 12th. This represents a $0.72 dividend on an annualized basis and a yield of 3.08%. Haverty Furniture Companies’s payout ratio is 50.70%.
Haverty Furniture Companies announced that its board has approved a share buyback plan on Friday, November 16th that allows the company to repurchase $15.00 million in shares. This repurchase authorization allows the company to buy up to 3.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
In other Haverty Furniture Companies news, Director Alfredo Trujillo sold 5,136 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $24.28, for a total value of $124,702.08. Following the completion of the sale, the director now owns 15,665 shares in the company, valued at approximately $380,346.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Clarence H. Smith sold 9,976 shares of the stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $24.01, for a total transaction of $239,523.76. Following the completion of the sale, the chief executive officer now owns 32,820 shares of the company’s stock, valued at approximately $788,008.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,438 shares of company stock valued at $822,955. 3.05% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in Haverty Furniture Companies by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 251,989 shares of the company’s stock worth $4,732,000 after acquiring an additional 1,819 shares in the last quarter. Millennium Management LLC raised its stake in Haverty Furniture Companies by 114.1% during the 4th quarter. Millennium Management LLC now owns 286,660 shares of the company’s stock worth $5,383,000 after acquiring an additional 152,776 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new stake in Haverty Furniture Companies during the 4th quarter worth $673,000. Metropolitan Life Insurance Co. NY raised its stake in Haverty Furniture Companies by 360.3% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,836 shares of the company’s stock worth $110,000 after acquiring an additional 4,568 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in Haverty Furniture Companies by 1.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 136,916 shares of the company’s stock valued at $2,571,000 after purchasing an additional 1,944 shares during the period. Institutional investors own 84.16% of the company’s stock.
About Haverty Furniture Companies
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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