Bassett Furniture Industries, Incorporated (BSET) to Issue Quarterly Dividend of $0.20 on May 29th

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) declared a quarterly dividend on Thursday, March 12th. Investors of record on Friday, May 15th will be given a dividend of 0.20 per share on Friday, May 29th. This represents a c) annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Friday, May 15th.

Bassett Furniture Industries has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 4 years. Bassett Furniture Industries has a dividend payout ratio of 65.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Bassett Furniture Industries to earn $1.33 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 60.2%.

Bassett Furniture Industries Stock Performance

NASDAQ:BSET opened at $14.00 on Friday. Bassett Furniture Industries has a 52 week low of $13.70 and a 52 week high of $19.75. The firm’s 50-day simple moving average is $15.60 and its 200 day simple moving average is $15.79. The firm has a market cap of $121.10 million, a price-to-earnings ratio of 20.00, a P/E/G ratio of 0.87 and a beta of 0.98.

Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.07). Bassett Furniture Industries had a net margin of 1.82% and a return on equity of 3.91%. The business had revenue of $88.67 million during the quarter, compared to the consensus estimate of $86.90 million. Sell-side analysts anticipate that Bassett Furniture Industries will post 0.75 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Wall Street Zen cut Bassett Furniture Industries from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Zacks Research lowered Bassett Furniture Industries from a “hold” rating to a “strong sell” rating in a research note on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bassett Furniture Industries in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Inc (NASDAQ: BSET), headquartered in Bassett, Virginia, is a vertically integrated manufacturer and retailer of residential home furnishings. The company designs, produces and markets a range of furniture items, including upholstered seating, wood case goods, bedroom collections, dining room sets and home décor accessories. Bassett is known for its emphasis on craftsmanship, offering both ready-to-assemble pieces and made-to-order products that cater to varying design preferences and space requirements.

Bassett’s products are sold through a dual-channel distribution network comprising company-owned Bassett Home Furnishings stores, a franchise and independent dealer network, and an e-commerce platform that provides online shopping, virtual design consultations and customization tools.