Bassett Furniture Industries (NASDAQ:BSET) Cut to “Hold” at Wall Street Zen

Wall Street Zen lowered shares of Bassett Furniture Industries (NASDAQ:BSET) from a buy rating to a hold rating in a report published on Saturday morning.

A number of other brokerages also recently issued reports on BSET. Zacks Research upgraded Bassett Furniture Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, December 30th. Weiss Ratings restated a “hold (c)” rating on shares of Bassett Furniture Industries in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy”.

Bassett Furniture Industries Price Performance

Shares of NASDAQ BSET opened at $15.83 on Friday. Bassett Furniture Industries has a 1 year low of $13.86 and a 1 year high of $19.75. The firm has a market cap of $136.93 million, a PE ratio of 22.61, a price-to-earnings-growth ratio of 0.96 and a beta of 0.99. The company has a 50 day simple moving average of $16.42 and a 200 day simple moving average of $16.02.

Bassett Furniture Industries (NASDAQ:BSET) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.07). The business had revenue of $88.67 million during the quarter, compared to analyst estimates of $86.90 million. Bassett Furniture Industries had a net margin of 1.82% and a return on equity of 3.91%. As a group, research analysts anticipate that Bassett Furniture Industries will post 0.75 earnings per share for the current fiscal year.

Bassett Furniture Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be paid a $0.20 dividend. The ex-dividend date is Friday, February 13th. This represents a $0.80 annualized dividend and a dividend yield of 5.1%. Bassett Furniture Industries’s payout ratio is currently 114.29%.

Hedge Funds Weigh In On Bassett Furniture Industries

Institutional investors and hedge funds have recently made changes to their positions in the stock. Atlantic Union Bankshares Corp bought a new stake in Bassett Furniture Industries in the 3rd quarter valued at about $29,000. Group One Trading LLC bought a new stake in shares of Bassett Furniture Industries during the second quarter valued at approximately $30,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Bassett Furniture Industries in the 2nd quarter worth $68,000. JPMorgan Chase & Co. bought a new position in shares of Bassett Furniture Industries in the 2nd quarter worth $83,000. Finally, New York State Common Retirement Fund acquired a new stake in Bassett Furniture Industries in the 2nd quarter valued at $106,000. Institutional investors own 54.40% of the company’s stock.

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.