Wall Street brokerages expect that Bassett Furniture Industries Inc. (NASDAQ:BSET) will post $115.51 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Bassett Furniture Industries’ earnings. The highest sales estimate is $117.88 million and the lowest is $113.14 million. Bassett Furniture Industries posted sales of $116.00 million during the same quarter last year, which would suggest a negative year over year growth rate of 0.4%. The firm is expected to issue its next earnings results on Thursday, June 27th.
According to Zacks, analysts expect that Bassett Furniture Industries will report full year sales of $470.67 million for the current year, with estimates ranging from $470.29 million to $471.05 million. For the next fiscal year, analysts forecast that the business will post sales of $481.93 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Bassett Furniture Industries.
Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings results on Thursday, April 4th. The company reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.07. The firm had revenue of $120.84 million for the quarter, compared to analyst estimates of $118.17 million. Bassett Furniture Industries had a return on equity of 5.38% and a net margin of 2.09%.
Shares of NASDAQ:BSET traded down $0.22 during trading on Friday, hitting $13.55. 18,800 shares of the company were exchanged, compared to its average volume of 28,439. The firm has a market capitalization of $144.86 million, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 1.00 and a beta of 0.78. Bassett Furniture Industries has a fifty-two week low of $13.38 and a fifty-two week high of $28.38.
In related news, Director William C. Warden, Jr. purchased 5,000 shares of the stock in a transaction on Friday, April 5th. The shares were purchased at an average price of $17.10 per share, with a total value of $85,500.00. Following the transaction, the director now directly owns 32,121 shares of the company’s stock, valued at $549,269.10. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 6.54% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of BSET. BNP Paribas Arbitrage SA increased its holdings in shares of Bassett Furniture Industries by 249.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,113 shares of the company’s stock worth $35,000 after acquiring an additional 1,509 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in shares of Bassett Furniture Industries during the 4th quarter worth approximately $73,000. MetLife Investment Advisors LLC acquired a new position in shares of Bassett Furniture Industries during the 4th quarter worth approximately $100,000. Spark Investment Management LLC acquired a new position in shares of Bassett Furniture Industries during the 1st quarter worth approximately $244,000. Finally, Rhumbline Advisers increased its holdings in shares of Bassett Furniture Industries by 43.8% during the 4th quarter. Rhumbline Advisers now owns 14,676 shares of the company’s stock worth $294,000 after acquiring an additional 4,473 shares during the last quarter. 70.31% of the stock is currently owned by institutional investors and hedge funds.
Bassett Furniture Industries Company Profile
Bassett Furniture Industries, Incorporated manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail, and Logistical Services. The company engages in the design, manufacture, sourcing, distribution, and sale of furniture products to a network of company-owned and licensee-owned Bassett Home Furnishings retail stores, as well as independent furniture retailers; and wood and upholstery operations.
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