Equities research analysts expect that Bassett Furniture Industries Inc. (NASDAQ:BSET) will announce sales of $115.38 million for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Bassett Furniture Industries’ earnings, with the lowest sales estimate coming in at $114.70 million and the highest estimate coming in at $116.06 million. Bassett Furniture Industries reported sales of $116.65 million during the same quarter last year, which would suggest a negative year over year growth rate of 1.1%. The business is expected to report its next quarterly earnings report on Thursday, January 16th.
According to Zacks, analysts expect that Bassett Furniture Industries will report full year sales of $453.83 million for the current financial year, with estimates ranging from $453.15 million to $454.51 million. For the next financial year, analysts forecast that the business will report sales of $460.26 million, with estimates ranging from $459.94 million to $460.58 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Bassett Furniture Industries.
Bassett Furniture Industries (NASDAQ:BSET) last announced its quarterly earnings data on Thursday, October 3rd. The company reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.03. Bassett Furniture Industries had a return on equity of 3.00% and a net margin of 1.12%. The company had revenue of $109.42 million for the quarter, compared to analyst estimates of $110.38 million.
Several large investors have recently bought and sold shares of the company. Oppenheimer & Co. Inc. increased its holdings in shares of Bassett Furniture Industries by 7.0% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 23,208 shares of the company’s stock valued at $355,000 after purchasing an additional 1,515 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Bassett Furniture Industries by 35.2% during the second quarter. Charles Schwab Investment Management Inc. now owns 27,045 shares of the company’s stock worth $413,000 after buying an additional 7,036 shares during the period. Strs Ohio grew its position in Bassett Furniture Industries by 21.2% during the second quarter. Strs Ohio now owns 37,700 shares of the company’s stock worth $574,000 after buying an additional 6,600 shares during the period. Russell Investments Group Ltd. grew its position in Bassett Furniture Industries by 29.3% during the third quarter. Russell Investments Group Ltd. now owns 27,757 shares of the company’s stock worth $424,000 after buying an additional 6,283 shares during the period. Finally, Rhumbline Advisers increased its holdings in Bassett Furniture Industries by 8.5% in the third quarter. Rhumbline Advisers now owns 16,133 shares of the company’s stock valued at $247,000 after buying an additional 1,265 shares in the last quarter. 69.22% of the stock is currently owned by institutional investors and hedge funds.
Shares of BSET stock opened at $14.77 on Friday. The company has a market cap of $147.10 million, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 1.75 and a beta of 0.71. The stock has a 50 day simple moving average of $15.40 and a 200-day simple moving average of $14.17. Bassett Furniture Industries has a 12-month low of $11.64 and a 12-month high of $21.95.
The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.50 annualized dividend and a dividend yield of 3.39%. Bassett Furniture Industries’s payout ratio is currently 51.55%.
About Bassett Furniture Industries
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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