Hooker Furnishings (NASDAQ:HOFT) Issues Earnings Results

Hooker Furnishings (NASDAQ:HOFT) issued its earnings results on Thursday. The company reported $0.10 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $69.45 million for the quarter, compared to analysts’ expectations of $66.31 million.

Hooker Furnishings Trading Up 0.5%

NASDAQ HOFT opened at $12.33 on Thursday. The firm has a market cap of $132.92 million, a P/E ratio of -4.85, a P/E/G ratio of 1.31 and a beta of 1.19. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.37 and a quick ratio of 1.60. The stock’s 50-day moving average is $12.99 and its 200-day moving average is $12.64. Hooker Furnishings has a one year low of $8.61 and a one year high of $15.99.

Hooker Furnishings Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.7%. Hooker Furnishings’s dividend payout ratio (DPR) is currently -18.11%.

Institutional Investors Weigh In On Hooker Furnishings

Hedge funds have recently modified their holdings of the business. Strs Ohio acquired a new stake in shares of Hooker Furnishings during the first quarter worth about $124,000. Bank of America Corp DE raised its position in shares of Hooker Furnishings by 61.2% during the third quarter. Bank of America Corp DE now owns 15,126 shares of the company’s stock worth $154,000 after purchasing an additional 5,740 shares during the period. PDT Partners LLC acquired a new stake in shares of Hooker Furnishings during the second quarter worth about $190,000. Vanguard Group Inc. raised its position in shares of Hooker Furnishings by 0.7% during the third quarter. Vanguard Group Inc. now owns 595,587 shares of the company’s stock worth $6,045,000 after purchasing an additional 4,138 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Hooker Furnishings by 35.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 366,761 shares of the company’s stock worth $4,141,000 after purchasing an additional 95,127 shares during the period. Institutional investors and hedge funds own 73.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on HOFT. Weiss Ratings cut Hooker Furnishings from a “sell (d)” rating to a “sell (d-)” rating in a report on Monday, May 18th. Zacks Research upgraded Hooker Furnishings from a “strong sell” rating to a “hold” rating in a report on Tuesday, March 3rd. Finally, Wall Street Zen upgraded Hooker Furnishings from a “sell” rating to a “hold” rating in a report on Sunday, April 19th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce”.

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.