Haverty Furniture Companies (NYSE:HVT) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Haverty Furniture Companies (NYSE:HVT) posted its quarterly earnings data on Monday. The company reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.03, FiscalAI reports. Haverty Furniture Companies had a return on equity of 6.34% and a net margin of 2.62%.The business had revenue of $201.92 million for the quarter, compared to analyst estimates of $197.47 million.

Haverty Furniture Companies Stock Performance

Shares of NYSE:HVT opened at $25.31 on Tuesday. The stock has a 50-day simple moving average of $25.48 and a 200-day simple moving average of $23.50. The stock has a market capitalization of $411.79 million, a P/E ratio of 22.20, a PEG ratio of 1.06 and a beta of 1.32. Haverty Furniture Companies has a 1 year low of $17.01 and a 1 year high of $27.67.

Haverty Furniture Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Stockholders of record on Tuesday, March 10th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Tuesday, March 10th. Haverty Furniture Companies’s payout ratio is currently 115.79%.

Insider Buying and Selling

In other Haverty Furniture Companies news, Director Rawson Haverty, Jr. sold 7,500 shares of Haverty Furniture Companies stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $24.86, for a total transaction of $186,450.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 8.63% of the company’s stock.

Hedge Funds Weigh In On Haverty Furniture Companies

A number of hedge funds have recently made changes to their positions in HVT. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Haverty Furniture Companies by 57.0% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,721 shares of the company’s stock valued at $40,000 after acquiring an additional 625 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Haverty Furniture Companies by 7.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,898 shares of the company’s stock valued at $175,000 after purchasing an additional 651 shares during the period. First Trust Advisors LP lifted its stake in shares of Haverty Furniture Companies by 2.0% during the second quarter. First Trust Advisors LP now owns 42,391 shares of the company’s stock worth $863,000 after purchasing an additional 843 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Haverty Furniture Companies during the 2nd quarter worth approximately $31,000. Finally, State of Wyoming purchased a new position in Haverty Furniture Companies in the 2nd quarter worth approximately $58,000. Hedge funds and other institutional investors own 80.57% of the company’s stock.

Analyst Ratings Changes

HVT has been the topic of several analyst reports. Wall Street Zen raised shares of Haverty Furniture Companies from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 14th. Weiss Ratings restated a “hold (c)” rating on shares of Haverty Furniture Companies in a research report on Monday, December 29th. Finally, Zacks Research cut shares of Haverty Furniture Companies from a “hold” rating to a “strong sell” rating in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce”.

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.