Analysts Expect Haverty Furniture Companies, Inc. (HVT) Will Post Quarterly Sales of $195.60 Million
Equities research analysts predict that Haverty Furniture Companies, Inc. (NYSE:HVT) will report $195.60 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Haverty Furniture Companies’ earnings, with the highest sales estimate coming in at $196.80 million and the lowest estimate coming in at $194.40 million. Haverty Furniture Companies reported sales of $198.78 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 1.6%. The business is expected to issue its next earnings results on Tuesday, July 30th.
According to Zacks, analysts expect that Haverty Furniture Companies will report full year sales of $807.65 million for the current year, with estimates ranging from $806.70 million to $808.60 million. For the next fiscal year, analysts forecast that the business will post sales of $827.45 million, with estimates ranging from $818.80 million to $836.10 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Haverty Furniture Companies.
Haverty Furniture Companies (NYSE:HVT) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.05). The firm had revenue of $187.24 million during the quarter, compared to analyst estimates of $198.82 million. Haverty Furniture Companies had a net margin of 3.43% and a return on equity of 9.68%. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.29 EPS.
Shares of Haverty Furniture Companies stock traded down $0.15 during trading on Wednesday, hitting $17.67. The stock had a trading volume of 139,152 shares, compared to its average volume of 221,678. The firm has a market cap of $363.47 million, a price-to-earnings ratio of 12.44 and a beta of 0.84. Haverty Furniture Companies has a fifty-two week low of $17.52 and a fifty-two week high of $25.09.
In other news, SVP Rawson Haverty, Jr. sold 4,257 shares of the company’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $23.22, for a total transaction of $98,847.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jenny H. Parker sold 7,069 shares of the company’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $23.50, for a total value of $166,121.50. Following the sale, the vice president now directly owns 20,119 shares of the company’s stock, valued at $472,796.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,438 shares of company stock valued at $822,955. 9.27% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of HVT. AJO LP acquired a new position in Haverty Furniture Companies during the first quarter valued at $4,229,000. Royce & Associates LP raised its position in Haverty Furniture Companies by 14.3% during the fourth quarter. Royce & Associates LP now owns 1,490,400 shares of the company’s stock valued at $27,990,000 after buying an additional 186,700 shares during the period. Millennium Management LLC raised its position in Haverty Furniture Companies by 114.1% during the fourth quarter. Millennium Management LLC now owns 286,660 shares of the company’s stock valued at $5,383,000 after buying an additional 152,776 shares during the period. Morgan Stanley raised its position in Haverty Furniture Companies by 273.4% during the first quarter. Morgan Stanley now owns 142,576 shares of the company’s stock valued at $3,119,000 after buying an additional 104,393 shares during the period. Finally, Martingale Asset Management L P raised its position in Haverty Furniture Companies by 622.4% during the fourth quarter. Martingale Asset Management L P now owns 93,909 shares of the company’s stock valued at $1,764,000 after buying an additional 80,909 shares during the period. 83.58% of the stock is currently owned by hedge funds and other institutional investors.
About Haverty Furniture Companies
Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and accessories in the United States. The company offers furniture merchandise under the Havertys brand name. It also provides custom upholstery products, as well as mattress product lines under the Sealy, Tempur-Pedic, Serta, Stearns & Foster, and Beautyrest Black names.
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