Flexsteel Industries (NASDAQ:FLXS) Releases Earnings Results, Beats Expectations By $0.39 EPS

Flexsteel Industries (NASDAQ:FLXS) announced its quarterly earnings data on Monday. The company reported $1.18 EPS for the quarter, beating the consensus estimate of $0.79 by $0.39, FiscalAI reports. Flexsteel Industries had a net margin of 4.58% and a return on equity of 16.99%. The firm had revenue of $118.25 million for the quarter, compared to the consensus estimate of $107.51 million.

Flexsteel Industries Trading Up 3.6%

Shares of Flexsteel Industries stock opened at $43.17 on Wednesday. The firm has a market cap of $230.53 million, a PE ratio of 11.76, a PEG ratio of 0.98 and a beta of 0.51. The stock has a 50 day moving average of $40.68 and a 200 day moving average of $40.50. Flexsteel Industries has a 12 month low of $29.38 and a 12 month high of $64.14.

Flexsteel Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Monday, December 29th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Monday, December 29th. Flexsteel Industries’s payout ratio is currently 19.46%.

Analyst Ratings Changes

A number of equities research analysts have commented on FLXS shares. Zacks Research raised Flexsteel Industries from a “strong sell” rating to a “hold” rating in a report on Monday, December 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Flexsteel Industries in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded Flexsteel Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 18th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Institutional Investors Weigh In On Flexsteel Industries

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Flexsteel Industries by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 225,855 shares of the company’s stock worth $10,468,000 after buying an additional 708 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its holdings in shares of Flexsteel Industries by 22.5% in the 3rd quarter. Punch & Associates Investment Management Inc. now owns 73,502 shares of the company’s stock valued at $3,407,000 after acquiring an additional 13,502 shares during the last quarter. Bridgeway Capital Management LLC grew its position in Flexsteel Industries by 5.2% in the third quarter. Bridgeway Capital Management LLC now owns 66,406 shares of the company’s stock worth $3,078,000 after acquiring an additional 3,300 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Flexsteel Industries by 19.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 43,330 shares of the company’s stock worth $2,008,000 after acquiring an additional 7,107 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised its position in Flexsteel Industries by 10.8% during the third quarter. Qube Research & Technologies Ltd now owns 32,003 shares of the company’s stock valued at $1,483,000 after purchasing an additional 3,115 shares during the period. Hedge funds and other institutional investors own 36.27% of the company’s stock.

About Flexsteel Industries

Flexsteel Industries, Inc (NASDAQ: FLXS) is a U.S.-based furniture manufacturer specializing in the design, production, and marketing of residential upholstered furniture and wood casegoods. The company operates through two primary segments: Upholstery, which encompasses seating products such as sofas, loveseats, chairs, recliners, and sectionals; and Casegoods, which includes accent and occasional tables, cabinets, bookcases, and other wood-based furnishings. Flexsteel sells its products through a network of independent retailers, furniture stores, and distributors across North America.

Flexsteel’s upholstery segment is distinguished by its patented Blue Steel Spring® technology, which offers enhanced longevity and comfort by replacing conventional webbing and springs with a welded steel seat suspension.