Zacks: Analysts Expect Haverty Furniture Companies, Inc. (HVT) Will Announce Quarterly Sales of $199.95 Million
Equities research analysts expect Haverty Furniture Companies, Inc. (NYSE:HVT) to report sales of $199.95 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Haverty Furniture Companies’ earnings. The lowest sales estimate is $198.70 million and the highest is $201.20 million. Haverty Furniture Companies posted sales of $194.77 million during the same quarter last year, which suggests a positive year over year growth rate of 2.7%. The company is expected to issue its next quarterly earnings report on Monday, August 7th.
On average, analysts expect that Haverty Furniture Companies will report full-year sales of $199.95 million for the current year, with estimates ranging from $844.40 million to $850.30 million. For the next financial year, analysts anticipate that the firm will post sales of $870.25 million per share, with estimates ranging from $865.50 million to $875.00 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Haverty Furniture Companies.
A number of brokerages have recently commented on HVT. ValuEngine raised shares of Haverty Furniture Companies from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research raised shares of Haverty Furniture Companies from a “sell” rating to a “hold” rating in a report on Tuesday, April 25th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Haverty Furniture Companies has an average rating of “Hold” and an average target price of $23.00.
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Haverty Furniture Companies (NYSE HVT) opened at 24.60 on Friday. The company has a market capitalization of $519.53 million, a PE ratio of 17.89 and a beta of 1.05. Haverty Furniture Companies has a one year low of $16.57 and a one year high of $26.30. The stock’s 50 day moving average is $24.58 and its 200 day moving average is $23.53.
The business also recently declared a quarterly dividend, which was paid on Friday, June 9th. Stockholders of record on Wednesday, May 24th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend was Monday, May 22nd. Haverty Furniture Companies’s payout ratio is 35.04%.
In other news, insider Rawson Haverty, Jr. sold 1,964 shares of the stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $23.52, for a total value of $46,193.28. Following the transaction, the insider now owns 400 shares of the company’s stock, valued at approximately $9,408. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Rawson Haverty, Jr. sold 3,495 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $25.43, for a total transaction of $88,877.85. Following the completion of the transaction, the senior vice president now directly owns 5,020 shares in the company, valued at approximately $127,658.60. The disclosure for this sale can be found here. Insiders sold a total of 12,222 shares of company stock worth $297,869 in the last three months. Insiders own 10.31% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Numeric Investors LLC raised its position in shares of Haverty Furniture Companies by 123.7% in the fourth quarter. Numeric Investors LLC now owns 104,696 shares of the company’s stock worth $2,481,000 after buying an additional 57,896 shares during the last quarter. Bowling Portfolio Management LLC bought a new position in shares of Haverty Furniture Companies during the fourth quarter worth approximately $625,000. AQR Capital Management LLC raised its position in shares of Haverty Furniture Companies by 1.0% in the fourth quarter. AQR Capital Management LLC now owns 89,013 shares of the company’s stock worth $2,110,000 after buying an additional 911 shares during the last quarter. Guggenheim Capital LLC raised its position in shares of Haverty Furniture Companies by 54.1% in the fourth quarter. Guggenheim Capital LLC now owns 100,944 shares of the company’s stock worth $2,392,000 after buying an additional 35,426 shares during the last quarter. Finally, Tudor Investment Corp Et Al raised its position in shares of Haverty Furniture Companies by 18.6% in the fourth quarter. Tudor Investment Corp Et Al now owns 17,238 shares of the company’s stock worth $409,000 after buying an additional 2,700 shares during the last quarter. 79.10% of the stock is currently owned by hedge funds and other institutional investors.
Haverty Furniture Companies Company Profile
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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