Bassett Furniture Industries Inc. (BSET) Issues Quarterly Earnings Results
Bassett Furniture Industries Inc. (NASDAQ:BSET) posted its earnings results on Thursday. The company reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The business earned $104.70 million during the quarter, compared to the consensus estimate of $112.40 million. Bassett Furniture Industries had a return on equity of 9.55% and a net margin of 3.76%. During the same period in the prior year, the firm earned $0.40 earnings per share.
Bassett Furniture Industries (NASDAQ:BSET) traded down 1.09% during mid-day trading on Thursday, hitting $23.63. 12,279 shares of the company traded hands. Bassett Furniture Industries has a one year low of $22.42 and a one year high of $33.68. The company’s 50-day moving average is $24.99 and its 200-day moving average is $27.66. The stock has a market capitalization of $257.66 million, a price-to-earnings ratio of 15.64 and a beta of 1.02.
Separately, Zacks Investment Research raised shares of Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 30th.
Hedge funds have recently made changes to their positions in the stock. Landscape Capital Management L.L.C. purchased a new stake in shares of Bassett Furniture Industries during the second quarter worth $218,000. Deere & Co. purchased a new stake in shares of Bassett Furniture Industries during the second quarter worth $237,000. TFS Capital LLC increased its stake in shares of Bassett Furniture Industries by 47.4% in the second quarter. TFS Capital LLC now owns 11,984 shares of the company’s stock worth $287,000 after buying an additional 3,853 shares in the last quarter. KCG Holdings Inc. purchased a new stake in shares of Bassett Furniture Industries during the second quarter worth $306,000. Finally, Allianz Asset Management AG increased its stake in shares of Bassett Furniture Industries by 3.0% in the second quarter. Allianz Asset Management AG now owns 14,887 shares of the company’s stock worth $356,000 after buying an additional 438 shares in the last quarter. Institutional investors and hedge funds own 71.64% of the company’s stock.
About Bassett Furniture Industries
Bassett Furniture Industries, Incorporated is a manufacturer, importer and retailer of home furnishings. The Company’s segments include Wholesale, Retail – Company-owned stores and Logistical services. Its wholesale home furnishings segment is involved in the design, manufacture, sourcing, sale and distribution of furniture products to a network of Bassett stores (licensee-owned stores and Company-owned stores) and independent furniture retailers.
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