Bassett Furniture Industries Inc. (BSET) Given Average Rating of “Hold” by Brokerages
Bassett Furniture Industries Inc. (NASDAQ:BSET) has received a consensus rating of “Hold” from the six brokerages that are presently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $33.00.
Several equities research analysts have weighed in on BSET shares. Zacks Investment Research upgraded shares of Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 30th. BidaskClub upgraded shares of Bassett Furniture Industries from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 19th. Sidoti upgraded shares of Bassett Furniture Industries from a “neutral” rating to a “buy” rating in a research report on Thursday, May 10th. Finally, ValuEngine cut shares of Bassett Furniture Industries from a “hold” rating to a “sell” rating in a research report on Friday, May 4th.
Institutional investors and hedge funds have recently bought and sold shares of the business. KBC Group NV increased its position in Bassett Furniture Industries by 48.5% in the 1st quarter. KBC Group NV now owns 6,365 shares of the company’s stock valued at $193,000 after acquiring an additional 2,079 shares in the last quarter. MetLife Investment Advisors LLC acquired a new stake in Bassett Furniture Industries in the 4th quarter valued at about $202,000. Citadel Advisors LLC acquired a new stake in Bassett Furniture Industries in the 1st quarter valued at about $224,000. Alps Advisors Inc. acquired a new stake in Bassett Furniture Industries in the 2nd quarter valued at about $227,000. Finally, Element Capital Management LLC acquired a new stake in Bassett Furniture Industries in the 1st quarter valued at about $228,000. Hedge funds and other institutional investors own 75.14% of the company’s stock.
Bassett Furniture Industries (NASDAQ:BSET) last announced its earnings results on Thursday, June 28th. The company reported $0.40 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.40. The business had revenue of $116.00 million during the quarter, compared to analysts’ expectations of $112.86 million. Bassett Furniture Industries had a net margin of 2.82% and a return on equity of 7.93%. During the same quarter last year, the company posted $0.54 EPS. analysts expect that Bassett Furniture Industries will post 1.41 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 24th. Shareholders of record on Friday, August 10th will be given a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.16%. The ex-dividend date is Thursday, August 9th. This is a boost from Bassett Furniture Industries’s previous quarterly dividend of $0.11. Bassett Furniture Industries’s dividend payout ratio (DPR) is presently 31.65%.
About Bassett Furniture Industries
Bassett Furniture Industries, Incorporated manufactures, markets, and retails home furnishings in the United States. The company operates in three segments: Wholesale, Retail, and Logistical Services. It is involved in the design, manufacture, sourcing, sale, and distribution of furniture products to a network of company-owned and licensee-owned Bassett Home Furnishings (BHF) retail stores, as well as independent furniture retailers; and wood and upholstery operations.
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