Haverty Furniture Companies (NYSE:HVT) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Haverty Furniture Companies (NYSE:HVT) announced its earnings results on Tuesday. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.23 by $0.02, Zacks reports. Haverty Furniture Companies had a return on equity of 6.60% and a net margin of 2.64%.

Haverty Furniture Companies Stock Performance

Shares of HVT stock opened at $25.77 on Tuesday. The company has a market cap of $414.69 million, a P/E ratio of 21.47, a PEG ratio of 1.27 and a beta of 1.18. The stock has a 50 day simple moving average of $24.54 and a two-hundred day simple moving average of $23.77. Haverty Furniture Companies has a fifty-two week low of $19.89 and a fifty-two week high of $27.67.

Haverty Furniture Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Investors of record on Monday, June 1st were paid a dividend of $0.33 per share. The ex-dividend date of this dividend was Monday, June 1st. This represents a $1.32 annualized dividend and a yield of 5.1%. Haverty Furniture Companies’s dividend payout ratio (DPR) is currently 110.00%.

Institutional Trading of Haverty Furniture Companies

Several hedge funds have recently modified their holdings of the stock. Engineers Gate Manager LP grew its holdings in Haverty Furniture Companies by 31.6% in the fourth quarter. Engineers Gate Manager LP now owns 17,736 shares of the company’s stock worth $414,000 after purchasing an additional 4,258 shares during the period. Martingale Asset Management L P acquired a new stake in shares of Haverty Furniture Companies in the 4th quarter valued at about $344,000. Wells Fargo & Company MN increased its position in Haverty Furniture Companies by 41.9% in the 4th quarter. Wells Fargo & Company MN now owns 16,191 shares of the company’s stock valued at $378,000 after buying an additional 4,780 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Haverty Furniture Companies during the 3rd quarter worth approximately $325,000. Finally, Magnetar Financial LLC acquired a new stake in Haverty Furniture Companies in the third quarter valued at approximately $278,000. Institutional investors own 80.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HVT. Weiss Ratings downgraded shares of Haverty Furniture Companies from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Wall Street Zen cut shares of Haverty Furniture Companies from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Finally, Zacks Research raised shares of Haverty Furniture Companies from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold”.

About Haverty Furniture Companies

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and home décor in the United States. Founded in 1885 by J.J. Haverty and headquartered in Atlanta, Georgia, the company offers a broad assortment of upholstered furniture, case goods, mattresses, area rugs and decorative accessories. Customers can shop through a network of company-owned showrooms as well as an e-commerce platform, supported by in-house design services, delivery options and consumer financing programs.

Over more than a century of operation, Havertys has expanded its presence primarily across the Southeast and select markets beyond.