Bassett Furniture Industries (NASDAQ:BSET) Issues Earnings Results

Bassett Furniture Industries (NASDAQ:BSET) issued its earnings results on Wednesday. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.07), Zacks reports. Bassett Furniture Industries had a net margin of 1.82% and a return on equity of 3.90%. The business had revenue of $88.67 million during the quarter, compared to analysts’ expectations of $86.90 million.

Bassett Furniture Industries Stock Performance

Shares of NASDAQ:BSET traded down $0.02 during midday trading on Friday, reaching $15.88. The company had a trading volume of 4,804 shares, compared to its average volume of 13,833. The company has a fifty day simple moving average of $16.41 and a two-hundred day simple moving average of $16.10. The firm has a market cap of $138.00 million, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 0.91 and a beta of 0.99. Bassett Furniture Industries has a 1-year low of $13.82 and a 1-year high of $19.75.

Bassett Furniture Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, February 13th. This represents a $0.80 annualized dividend and a dividend yield of 5.0%. Bassett Furniture Industries’s dividend payout ratio (DPR) is 88.89%.

Wall Street Analyst Weigh In

BSET has been the subject of a number of research reports. Sidoti upgraded Bassett Furniture Industries to a “strong-buy” rating in a research note on Thursday, October 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Bassett Furniture Industries in a report on Wednesday, January 21st. Zacks Research raised shares of Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 30th. Finally, Wall Street Zen raised shares of Bassett Furniture Industries from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Institutional Trading of Bassett Furniture Industries

Several institutional investors have recently made changes to their positions in the stock. Group One Trading LLC bought a new stake in Bassett Furniture Industries during the second quarter worth approximately $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Bassett Furniture Industries in the second quarter worth $68,000. JPMorgan Chase & Co. bought a new stake in shares of Bassett Furniture Industries during the 2nd quarter worth $83,000. New York State Common Retirement Fund bought a new stake in shares of Bassett Furniture Industries during the 2nd quarter worth $106,000. Finally, Bank of America Corp DE grew its stake in Bassett Furniture Industries by 42.4% in the 2nd quarter. Bank of America Corp DE now owns 19,398 shares of the company’s stock valued at $295,000 after buying an additional 5,776 shares during the last quarter. 54.40% of the stock is currently owned by institutional investors and hedge funds.

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.