Hooker Furnishings Corp. (HOFT) to Distribute Quarterly Dividend of $0.12 on September 30th

Hooker Furnishings Corp. (NASDAQ:HOFT) declared a quarterly dividend on Thursday, September 3rd. Stockholders of record on Tuesday, September 15th will be paid a dividend of 0.115 per share on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Tuesday, September 15th.

Hooker Furnishings has increased its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 9 consecutive years. Hooker Furnishings has a dividend payout ratio of 34.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Hooker Furnishings to earn $1.34 per share next year, which means the company should continue to be able to cover its $0.46 annual dividend with an expected future payout ratio of 34.3%.

Hooker Furnishings Trading Up 3.6%

Hooker Furnishings stock opened at $13.12 on Friday. Hooker Furnishings has a 1-year low of $8.61 and a 1-year high of $18.09. The firm’s fifty day simple moving average is $14.59 and its 200-day simple moving average is $13.86. The company has a market capitalization of $140.91 million, a P/E ratio of -6.10, a P/E/G ratio of 1.17 and a beta of 1.14.

Hooker Furnishings (NASDAQ:HOFT) last issued its quarterly earnings data on Thursday, June 11th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.17. Hooker Furnishings had a negative net margin of 7.90% and a positive return on equity of 1.61%. The firm had revenue of $69.45 million during the quarter, compared to analysts’ expectations of $66.31 million. On average, equities research analysts predict that Hooker Furnishings will post 0.77 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on HOFT shares. Wall Street Zen downgraded Hooker Furnishings from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Zacks Research downgraded Hooker Furnishings from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 14th. Finally, Weiss Ratings lowered shares of Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, July 14th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hooker Furnishings currently has a consensus rating of “Reduce”.

About Hooker Furnishings

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.