Haverty Furniture Companies, Inc. (NYSE:HVT) Declares Dividend Increase – $0.33 Per Share

Haverty Furniture Companies, Inc. (NYSE:HVT) declared a quarterly dividend on Friday, November 7th. Stockholders of record on Tuesday, November 25th will be paid a dividend of 0.33 per share on Thursday, December 11th. This represents a c) dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Tuesday, November 25th. This is a 3.1% increase from Haverty Furniture Companies’s previous quarterly dividend of $0.32.

Haverty Furniture Companies has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Haverty Furniture Companies has a payout ratio of 53.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Haverty Furniture Companies to earn $1.57 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 84.1%.

Haverty Furniture Companies Stock Up 4.0%

Shares of NYSE:HVT opened at $23.22 on Friday. The stock has a market cap of $377.64 million, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 1.49 and a beta of 1.32. The firm’s 50 day moving average price is $21.71 and its 200 day moving average price is $21.47. Haverty Furniture Companies has a fifty-two week low of $17.01 and a fifty-two week high of $24.91.

Haverty Furniture Companies (NYSE:HVT) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.04. Haverty Furniture Companies had a return on equity of 6.34% and a net margin of 2.62%.The business had revenue of $194.48 million during the quarter, compared to analysts’ expectations of $183.12 million. On average, equities analysts anticipate that Haverty Furniture Companies will post 0.88 EPS for the current year.

Wall Street Analysts Forecast Growth

HVT has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Haverty Furniture Companies in a research note on Wednesday. Zacks Research downgraded shares of Haverty Furniture Companies from a “hold” rating to a “strong sell” rating in a research report on Monday, October 27th. Finally, Wall Street Zen upgraded shares of Haverty Furniture Companies from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 9th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce”.

About Haverty Furniture Companies

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and accessories in the United States. The company offers furniture merchandise under the Havertys brand name. It also provides custom upholstery products and eclectic looks; and mattress product lines under the Tempur-Pedic, Serta, Sealy, and Stearns and Foster names.