Hooker Furnishings (NASDAQ:HOFT) Announces Earnings Results, Beats Expectations By $0.17 EPS

Hooker Furnishings (NASDAQ:HOFT) announced its earnings results on Thursday. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.17, FiscalAI reports. Hooker Furnishings had a negative return on equity of 0.71% and a negative net margin of 8.84%.The business had revenue of $69.45 million for the quarter, compared to analyst estimates of $66.31 million.

Hooker Furnishings Stock Up 0.5%

NASDAQ:HOFT opened at $12.33 on Thursday. The firm has a market capitalization of $132.92 million, a price-to-earnings ratio of -4.85, a price-to-earnings-growth ratio of 1.31 and a beta of 1.19. Hooker Furnishings has a twelve month low of $8.61 and a twelve month high of $15.99. The stock’s 50 day moving average price is $12.99 and its two-hundred day moving average price is $12.64. The company has a quick ratio of 1.60, a current ratio of 3.37 and a debt-to-equity ratio of 0.02.

Hooker Furnishings Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 19th will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Thursday, June 18th. This represents a $0.46 annualized dividend and a dividend yield of 3.7%. Hooker Furnishings’s payout ratio is -18.11%.

Wall Street Analyst Weigh In

HOFT has been the topic of a number of recent research reports. Zacks Research raised Hooker Furnishings from a “strong sell” rating to a “hold” rating in a research report on Tuesday, March 3rd. Weiss Ratings lowered Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 18th. Finally, Wall Street Zen raised Hooker Furnishings from a “sell” rating to a “hold” rating in a research report on Sunday, April 19th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce”.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Cerity Partners LLC acquired a new position in shares of Hooker Furnishings during the 4th quarter worth approximately $117,000. Osaic Holdings Inc. increased its position in shares of Hooker Furnishings by 940.0% during the 2nd quarter. Osaic Holdings Inc. now owns 10,400 shares of the company’s stock worth $110,000 after purchasing an additional 9,400 shares during the last quarter. LPL Financial LLC increased its position in shares of Hooker Furnishings by 16.6% during the 4th quarter. LPL Financial LLC now owns 11,684 shares of the company’s stock worth $132,000 after purchasing an additional 1,660 shares during the last quarter. Strs Ohio acquired a new position in shares of Hooker Furnishings during the 1st quarter worth approximately $124,000. Finally, Jane Street Group LLC acquired a new position in shares of Hooker Furnishings during the 1st quarter worth approximately $146,000. Institutional investors and hedge funds own 73.60% of the company’s stock.

Hooker Furnishings Company Profile

Hooker Furnishings, formerly known as Hooker Furniture Corporation, is a designer, marketer and distributor of high-quality home furnishings. Headquartered in Martinsville, Virginia, the company offers a broad range of wood and upholstered furniture products across bedroom, dining, home office and accent categories. Its portfolio includes solid wood and engineered wood case goods, upholstered seating, accent tables and decorative accessories, reflecting styles that range from traditional to contemporary.

The company’s operations are organized into three reportable segments: Domestic Wholesale, Retail and Logistics, and International.