Hooker Furnishings Corp. Plans Quarterly Dividend of $0.12 (NASDAQ:HOFT)

Hooker Furnishings Corp. (NASDAQ:HOFT) announced a quarterly dividend on Tuesday, June 9th. Shareholders of record on Friday, June 19th will be given a dividend of 0.115 per share on Tuesday, June 30th. This represents a c) annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Thursday, June 18th.

Hooker Furnishings has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 9 consecutive years. Hooker Furnishings has a dividend payout ratio of 34.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Hooker Furnishings to earn $1.29 per share next year, which means the company should continue to be able to cover its $0.46 annual dividend with an expected future payout ratio of 35.7%.

Hooker Furnishings Trading Up 1.5%

Hooker Furnishings stock opened at $12.27 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.60 and a current ratio of 3.37. Hooker Furnishings has a fifty-two week low of $8.61 and a fifty-two week high of $15.99. The stock has a market cap of $132.27 million, a P/E ratio of -4.83, a PEG ratio of 1.29 and a beta of 1.19. The firm’s fifty day moving average price is $13.00 and its 200-day moving average price is $12.63.

Hooker Furnishings (NASDAQ:HOFT) last posted its earnings results on Thursday, April 16th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03. Hooker Furnishings had a negative return on equity of 0.71% and a negative net margin of 8.84%.The business had revenue of $66.98 million during the quarter, compared to analysts’ expectations of $74.89 million. Equities research analysts forecast that Hooker Furnishings will post 0.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

HOFT has been the subject of a number of research reports. Zacks Research raised shares of Hooker Furnishings from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 3rd. Weiss Ratings lowered shares of Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 18th. Finally, Wall Street Zen upgraded Hooker Furnishings from a “sell” rating to a “hold” rating in a research report on Sunday, April 19th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Reduce”.

Hooker Furnishings Company Profile

Hooker Furnishings, formerly known as Hooker Furniture Corporation, is a designer, marketer and distributor of high-quality home furnishings. Headquartered in Martinsville, Virginia, the company offers a broad range of wood and upholstered furniture products across bedroom, dining, home office and accent categories. Its portfolio includes solid wood and engineered wood case goods, upholstered seating, accent tables and decorative accessories, reflecting styles that range from traditional to contemporary.

The company’s operations are organized into three reportable segments: Domestic Wholesale, Retail and Logistics, and International.