Ethan Allen Interiors (NYSE:ETD) Shares Gap Down Following Weak Earnings

Shares of 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.

The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.18). The company had revenue of $146.42 million for the quarter, compared to analysts’ expectations of $168.15 million. Ethan Allen Interiors had a return on equity of 14.99% and a net margin of 10.63%. The business’s quarterly revenue was down 21.4% on a year-over-year basis. During the same quarter last year, the business posted $0.86 EPS.

Ethan Allen Interiors Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Tuesday, May 7th will be paid a $0.39 dividend. This is an increase from Ethan Allen Interiors’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Monday, May 6th. This represents a $1.56 annualized dividend and a yield of 5.41%. Ethan Allen Interiors’s dividend payout ratio is presently 52.36%.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ETD. First Trust Advisors LP grew its stake in Ethan Allen Interiors by 56.6% during the fourth quarter. First Trust Advisors LP now owns 779,958 shares of the company’s stock valued at $24,896,000 after acquiring an additional 281,900 shares in the last quarter. UBS Group AG increased its holdings in shares of Ethan Allen Interiors by 56.8% in the fourth quarter. UBS Group AG now owns 444,933 shares of the company’s stock worth $14,202,000 after purchasing an additional 161,158 shares during the period. Invesco Ltd. raised its position in shares of Ethan Allen Interiors by 35.6% in the third quarter. Invesco Ltd. now owns 416,348 shares of the company’s stock worth $12,449,000 after buying an additional 109,235 shares in the last quarter. First Dallas Securities Inc. boosted its stake in Ethan Allen Interiors by 96.9% during the third quarter. First Dallas Securities Inc. now owns 139,111 shares of the company’s stock valued at $4,159,000 after buying an additional 68,444 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in Ethan Allen Interiors by 35.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 171,289 shares of the company’s stock worth $5,122,000 after buying an additional 44,946 shares in the last quarter. Institutional investors own 83.80% of the company’s stock.

Ethan Allen Interiors Stock Performance

The business has a 50 day simple moving average of $32.49 and a two-hundred day simple moving average of $30.31. The firm has a market capitalization of $732.03 million, a P/E ratio of 10.48 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.