Bassett Furniture Industries (NASDAQ:BSET) Issues Earnings Results, Beats Expectations By $0.11 EPS

Key Points

• Bassett Furniture reported quarterly EPS of $0.24, beating the consensus estimate of $0.13 by $0.11. The company posted a 1.65% net margin and 3.56% return on equity.
• Shares fell 3.2% to $17.47, despite trading above their 200-day moving average; the stock’s 52-week range is $13.17 to $22.26.
• The company maintains a quarterly dividend of $0.20 per share, or $0.80 annually, yielding about 4.6%. Analysts’ overall rating is “Moderate Buy,” with one Strong Buy and two Hold ratings.

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) issued its earnings results on Wednesday. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.11, Zacks reports. Bassett Furniture Industries had a net margin of 1.65% and a return on equity of 3.56%.

Bassett Furniture Industries Trading Down 3.2%

Shares of NASDAQ:BSET traded down $0.58 during trading on Wednesday, reaching $17.47. The stock had a trading volume of 59,527 shares, compared to its average volume of 37,737. The firm's 50-day simple moving average is $18.82 and its 200 day simple moving average is $16.80. Bassett Furniture Industries has a one year low of $13.17 and a one year high of $22.26. The company has a market capitalization of $151.29 million, a P/E ratio of 27.30, a PEG ratio of 1.28 and a beta of 0.77.

Bassett Furniture Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Friday, August 14th. Bassett Furniture Industries's dividend payout ratio is presently 125.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BSET shares. Weiss Ratings raised shares of Bassett Furniture Industries from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, July 14th. Wall Street Zen raised shares of Bassett Furniture Industries from a "sell" rating to a "hold" rating in a research note on Saturday, June 20th. Finally, Zacks Research lowered Bassett Furniture Industries from a "strong-buy" rating to a "hold" rating in a report on Monday, September 7th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy".

About Bassett Furniture Industries

Bassett Furniture Industries, Incorporated is a home furnishings company headquartered in Bassett, Virginia. Founded in 1902, the company built its heritage in wooden furniture and has expanded into a broader range of residential furnishings.

Bassett designs, manufactures, sources and sells products including upholstered furniture, bedroom and dining furniture, occasional tables, home office furnishings, mattresses, rugs, lighting and decorative accessories. Its offerings are marketed under the Bassett brand, with an emphasis on coordinated room collections, customization and design services.

The company serves consumers primarily in the United States through company-owned and licensed Bassett Home Furnishings stores, its website and other retail channels.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.