Haverty Furniture Companies (NYSE:HVT) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Haverty Furniture Companies (NYSE:HVT) posted its quarterly earnings results on Monday. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02, Zacks reports. The company had revenue of $201.92 million for the quarter, compared to analysts’ expectations of $197.47 million. Haverty Furniture Companies had a return on equity of 6.34% and a net margin of 2.62%.

Haverty Furniture Companies Trading Down 3.8%

Shares of HVT traded down $0.96 during mid-day trading on Wednesday, reaching $24.36. The company had a trading volume of 22,048 shares, compared to its average volume of 68,843. The firm has a fifty day simple moving average of $25.49 and a 200-day simple moving average of $23.53. Haverty Furniture Companies has a fifty-two week low of $17.01 and a fifty-two week high of $27.67. The stock has a market cap of $396.32 million, a price-to-earnings ratio of 21.31, a price-to-earnings-growth ratio of 1.02 and a beta of 1.32.

Haverty Furniture Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $1.32 dividend on an annualized basis and a yield of 5.4%. Haverty Furniture Companies’s dividend payout ratio (DPR) is currently 115.79%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HVT. Weiss Ratings reissued a “hold (c)” rating on shares of Haverty Furniture Companies in a report on Monday, December 29th. Wall Street Zen raised Haverty Furniture Companies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 14th. Finally, Zacks Research downgraded Haverty Furniture Companies from a “hold” rating to a “strong sell” rating in a report on Monday, December 29th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Insider Transactions at Haverty Furniture Companies

In related news, Director Rawson Haverty, Jr. sold 7,500 shares of Haverty Furniture Companies stock in a transaction on Friday, December 12th. The shares were sold at an average price of $24.86, for a total value of $186,450.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On Haverty Furniture Companies

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada lifted its holdings in Haverty Furniture Companies by 13.8% during the 1st quarter. Royal Bank of Canada now owns 27,073 shares of the company’s stock worth $534,000 after buying an additional 3,293 shares during the last quarter. AQR Capital Management LLC increased its stake in Haverty Furniture Companies by 30.5% during the first quarter. AQR Capital Management LLC now owns 162,821 shares of the company’s stock valued at $3,211,000 after purchasing an additional 38,074 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Haverty Furniture Companies by 7.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,898 shares of the company’s stock worth $175,000 after purchasing an additional 651 shares during the period. Empowered Funds LLC raised its stake in Haverty Furniture Companies by 7.4% during the first quarter. Empowered Funds LLC now owns 92,185 shares of the company’s stock worth $1,818,000 after acquiring an additional 6,387 shares during the period. Finally, Jane Street Group LLC boosted its stake in Haverty Furniture Companies by 68.7% in the first quarter. Jane Street Group LLC now owns 172,099 shares of the company’s stock valued at $3,394,000 after acquiring an additional 70,060 shares during the period. 80.57% of the stock is currently owned by institutional investors and hedge funds.

Haverty Furniture Companies Company Profile

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and home décor in the United States. Founded in 1885 by J.J. Haverty and headquartered in Atlanta, Georgia, the company offers a broad assortment of upholstered furniture, case goods, mattresses, area rugs and decorative accessories. Customers can shop through a network of company-owned showrooms as well as an e-commerce platform, supported by in-house design services, delivery options and consumer financing programs.

Over more than a century of operation, Havertys has expanded its presence primarily across the Southeast and select markets beyond.