Ethan Allen Interiors (NYSE:ETD) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Key Points

• Ethan Allen Interiors beat earnings expectations, reporting quarterly EPS of $0.36 versus the $0.34 analyst consensus. Revenue was $146.75 million, below estimates of $148.70 million.
• Shares fell 0.7% to $23.63 after the results. The company reported a 6.81% net margin and an 8.54% return on equity.
• Analyst sentiment remains cautious: the consensus rating is “Reduce”, with a $24.00 price target; institutional investors own 83.8% of the stock.

Ethan Allen Interiors (NYSE:ETD - Get Free Report) issued its earnings results on Wednesday. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.02, FiscalAI reports. The firm had revenue of $146.75 million during the quarter, compared to analyst estimates of $148.70 million. Ethan Allen Interiors had a net margin of 6.81% and a return on equity of 8.54%.

Ethan Allen Interiors Trading Down 0.7%

Shares of ETD stock traded down $0.17 on Wednesday, reaching $23.63. The company's stock had a trading volume of 383,723 shares, compared to its average volume of 464,934. The stock's fifty day simple moving average is $21.59 and its 200-day simple moving average is $22.24. Ethan Allen Interiors has a 1 year low of $18.28 and a 1 year high of $31.41. The company has a market capitalization of $601.38 million, a price-to-earnings ratio of 14.96 and a beta of 1.01.

Analysts Set New Price Targets

Several analysts have commented on ETD shares. Zacks Research upgraded shares of Ethan Allen Interiors from a "strong sell" rating to a "hold" rating in a research note on Monday, June 29th. Telsey Advisory Group cut their price objective on Ethan Allen Interiors from $27.00 to $24.00 and set a "market perform" rating for the company in a research report on Thursday, April 30th. Finally, Weiss Ratings cut Ethan Allen Interiors from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, May 4th. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $24.00.

Institutional Investors Weigh In On Ethan Allen Interiors

Hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC lifted its position in Ethan Allen Interiors by 365.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,054 shares of the company's stock valued at $85,000 after purchasing an additional 2,398 shares during the last quarter. Osaic Holdings Inc. increased its holdings in shares of Ethan Allen Interiors by 31.2% in the 2nd quarter. Osaic Holdings Inc. now owns 6,682 shares of the company's stock worth $186,000 after buying an additional 1,589 shares during the last quarter. Brown Advisory Inc. purchased a new stake in shares of Ethan Allen Interiors during the 2nd quarter valued at about $204,000. Rafferty Asset Management LLC bought a new position in shares of Ethan Allen Interiors in the 2nd quarter valued at about $222,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Ethan Allen Interiors by 9.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,930 shares of the company's stock valued at $249,000 after acquiring an additional 800 shares during the last quarter. Hedge funds and other institutional investors own 83.80% of the company's stock.

About Ethan Allen Interiors

Ethan Allen Interiors Inc NYSE: ETD is a vertically integrated manufacturer and retailer of home furnishings, offering a broad range of furniture, upholstery, case goods and decorative accessories. The company designs and produces the majority of its products in its own North American manufacturing facilities, maintaining close control over quality, craftsmanship and production schedules. Through its network of company-operated and franchised Design Centers and galleries, Ethan Allen delivers a full-service offering that includes on-site interior design consultations and project management.

Founded in 1932 as a small Colonial-Revival furniture maker in northern Vermont, Ethan Allen has grown into a global brand known for its timeless styles and customization options.

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