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

Key Points

• Haverty Furniture Companies reported quarterly EPS of $0.25, beating analyst expectations of $0.23 by $0.02. The company posted a 6.60% return on equity and a 2.64% net margin.
• Shares rose 4.6% to open at $25.77, while the company’s quarterly dividend of $0.33 implies an annualized yield of 5.1%; its payout ratio stands at 110%.
• Analysts maintain an average “Hold” rating on the stock, while institutional investors own approximately 80.57% of outstanding shares.

Haverty Furniture Companies (NYSE:HVT - Get Free Report) released its earnings results on Tuesday. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.02, Zacks reports. Haverty Furniture Companies had a return on equity of 6.60% and a net margin of 2.64%.

Haverty Furniture Companies Trading Up 4.6%

Haverty Furniture Companies stock opened at $25.77 on Tuesday. The stock has a 50-day moving average price of $24.54 and a two-hundred day moving average price of $23.77. Haverty Furniture Companies has a 12 month low of $19.89 and a 12 month high of $27.67. The company has a market capitalization of $414.69 million, a PE ratio of 21.47, a P/E/G ratio of 1.27 and a beta of 1.18.

Haverty Furniture Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 1st were given a $0.33 dividend. The ex-dividend date was Monday, June 1st. This represents a $1.32 annualized dividend and a yield of 5.1%. Haverty Furniture Companies's dividend payout ratio (DPR) is currently 110.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on HVT shares. Wall Street Zen cut shares of Haverty Furniture Companies from a "buy" rating to a "hold" rating in a report on Saturday, May 2nd. Weiss Ratings cut shares of Haverty Furniture Companies from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, May 7th. Finally, Zacks Research raised shares of Haverty Furniture Companies from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold".

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HVT. Vanguard Group Inc. raised its holdings in Haverty Furniture Companies by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 910,883 shares of the company's stock valued at $19,976,000 after buying an additional 28,111 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Haverty Furniture Companies by 21.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 371,843 shares of the company's stock worth $8,686,000 after acquiring an additional 64,614 shares during the last quarter. Bridgeway Capital Management LLC increased its position in Haverty Furniture Companies by 7.4% in the 3rd quarter. Bridgeway Capital Management LLC now owns 188,396 shares of the company's stock valued at $4,132,000 after acquiring an additional 12,994 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Haverty Furniture Companies by 22.7% during the second quarter. Ameriprise Financial Inc. now owns 175,573 shares of the company's stock valued at $3,573,000 after acquiring an additional 32,503 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Haverty Furniture Companies by 68.7% during the first quarter. Jane Street Group LLC now owns 172,099 shares of the company's stock worth $3,394,000 after purchasing an additional 70,060 shares during the period. Institutional investors and hedge funds own 80.57% of the company's stock.

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.

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