Haverty Furniture Companies, Inc. Forecasted to Post FY2017 Earnings of $1.16 Per Share (HVT)
Haverty Furniture Companies, Inc. (NYSE:HVT) – KeyCorp dropped their FY2017 earnings per share (EPS) estimates for shares of Haverty Furniture Companies in a note issued to investors on Monday. KeyCorp analyst B. Thomas now expects that the company will post earnings per share of $1.16 for the year, down from their prior forecast of $1.20. KeyCorp also issued estimates for Haverty Furniture Companies’ Q4 2017 earnings at $0.32 EPS.
Haverty Furniture Companies (NYSE:HVT) last issued its earnings results on Tuesday, October 31st. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.04. Haverty Furniture Companies had a return on equity of 10.10% and a net margin of 3.53%. The business had revenue of $207.60 million for the quarter, compared to analyst estimates of $215.32 million. During the same quarter last year, the company earned $0.34 EPS. The business’s quarterly revenue was down 1.9% on a year-over-year basis.
Separately, Zacks Investment Research raised Haverty Furniture Companies from a “sell” rating to a “hold” rating in a research report on Wednesday, December 6th.
Shares of Haverty Furniture Companies (NYSE HVT) opened at $22.30 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.16 and a current ratio of 2.17. Haverty Furniture Companies has a 12-month low of $21.05 and a 12-month high of $27.23. The firm has a market capitalization of $474.30, a PE ratio of 17.02, a PEG ratio of 4.22 and a beta of 1.13.
In other Haverty Furniture Companies news, Director Fred L. Schuermann sold 1,950 shares of Haverty Furniture Companies stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $23.15, for a total transaction of $45,142.50. Following the transaction, the director now owns 3 shares of the company’s stock, valued at $69.45. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Pine Hill Associates, Llc sold 7,921 shares of Haverty Furniture Companies stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $23.79, for a total value of $188,440.59. The disclosure for this sale can be found here. Insiders have sold a total of 32,871 shares of company stock worth $769,483 in the last three months. Corporate insiders own 10.31% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in HVT. Russell Investments Group Ltd. increased its position in Haverty Furniture Companies by 20.8% during the second quarter. Russell Investments Group Ltd. now owns 6,764 shares of the company’s stock worth $169,000 after buying an additional 1,164 shares during the period. Schwab Charles Investment Management Inc. increased its position in Haverty Furniture Companies by 23.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 108,485 shares of the company’s stock worth $2,723,000 after buying an additional 20,882 shares during the period. SG Americas Securities LLC acquired a new position in Haverty Furniture Companies during the second quarter worth approximately $103,000. Bank of New York Mellon Corp increased its position in Haverty Furniture Companies by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 324,218 shares of the company’s stock worth $8,137,000 after buying an additional 5,488 shares during the period. Finally, Legal & General Group Plc increased its position in Haverty Furniture Companies by 6.3% during the second quarter. Legal & General Group Plc now owns 35,320 shares of the company’s stock worth $885,000 after buying an additional 2,097 shares during the period. 80.64% of the stock is currently owned by institutional investors.
About Haverty Furniture Companies
Haverty Furniture Companies, Inc is a retailer of residential furniture and accessories. The Company sells home furnishings in its retail stores and through its Website, havertys.com. As of December 31, 2016, the Company had 124 stores in 16 states in the Southern and Midwest regions. As of December 31, 2016, the Company’s retail store space totaled approximately 4.5 million square feet for 124 stores.
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