Hooker Furnishings (NASDAQ:HOFT) Announces Earnings Results, Beats Estimates By $0.54 EPS

by · The Markets Daily

Hooker Furnishings (NASDAQ:HOFT – Get Free Report) posted its quarterly earnings data on Thursday. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.54, Zacks reports. The business had revenue of $70.73 million during the quarter, compared to analysts’ expectations of $85.50 million. Hooker Furnishings had a negative net margin of 3.40% and a negative return on equity of 4.17%.

Hooker Furnishings Trading Up 2.0%

HOFT stock traded up $0.21 during midday trading on Friday, hitting $10.75. The stock had a trading volume of 25,560 shares, compared to its average volume of 65,537. Hooker Furnishings has a 1-year low of $7.34 and a 1-year high of $18.51. The company has a current ratio of 2.99, a quick ratio of 1.37 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average price of $9.83 and a two-hundred day moving average price of $10.23. The firm has a market cap of $115.56 million, a P/E ratio of -8.88 and a beta of 1.41.

Hooker Furnishings Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Sunday, December 21st will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, December 19th. Hooker Furnishings’s dividend payout ratio is currently -76.03%.

Institutional Investors Weigh In On Hooker Furnishings

A number of large investors have recently bought and sold shares of HOFT. Bank of America Corp DE grew its stake in shares of Hooker Furnishings by 61.2% in the 3rd quarter. Bank of America Corp DE now owns 15,126 shares of the company’s stock worth $154,000 after acquiring an additional 5,740 shares in the last quarter. Two Sigma Investments LP boosted its holdings in Hooker Furnishings by 155.8% during the third quarter. Two Sigma Investments LP now owns 44,264 shares of the company’s stock worth $449,000 after purchasing an additional 26,963 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Hooker Furnishings during the third quarter worth about $253,000. Arrowstreet Capital Limited Partnership bought a new stake in Hooker Furnishings in the 3rd quarter worth about $247,000. Finally, Vanguard Group Inc. increased its stake in Hooker Furnishings by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 595,587 shares of the company’s stock valued at $6,045,000 after buying an additional 4,138 shares during the last quarter. 73.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on HOFT shares. Zacks Research cut Hooker Furnishings from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 26th. Weiss Ratings restated a “sell (d)” rating on shares of Hooker Furnishings in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Check Out Our Latest Research Report on HOFT

Hooker Furnishings Company Profile

(Get Free Report)

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. It operates in three segments: Hooker Branded, Home Meridian, and Domestic Upholstery. The Hooker Branded segment offers design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand; and imported upholstered furniture under the Hooker Upholstery brand.

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