Hooker Furnishings (NASDAQ:HOFT) Posts Earnings Results, Misses Expectations By $0.13 EPS

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) released its quarterly earnings results on Thursday. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.13), Zacks reports. Hooker Furnishings had a negative return on equity of 3.51% and a negative net margin of 2.46%. The business had revenue of $85.32 million during the quarter, compared to analyst estimates of $88.87 million.

Hooker Furnishings Stock Up 0.4%

NASDAQ HOFT traded up $0.04 on Friday, hitting $10.18. 120,274 shares of the stock traded hands, compared to its average volume of 48,663. The stock has a 50-day moving average of $9.45 and a 200 day moving average of $11.95. Hooker Furnishings has a twelve month low of $7.34 and a twelve month high of $19.79. The company has a market capitalization of $108.96 million, a P/E ratio of -11.19, a price-to-earnings-growth ratio of 0.85 and a beta of 1.37. The company has a current ratio of 3.16, a quick ratio of 1.76 and a debt-to-equity ratio of 0.10.

Hooker Furnishings Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 9.04%. The ex-dividend date is Monday, June 16th. Hooker Furnishings's payout ratio is currently -77.31%.

Institutional Trading of Hooker Furnishings

Several institutional investors and hedge funds have recently bought and sold shares of the company. Empowered Funds LLC raised its stake in Hooker Furnishings by 7.2% during the first quarter. Empowered Funds LLC now owns 55,319 shares of the company's stock valued at $555,000 after buying an additional 3,696 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Hooker Furnishings during the 1st quarter worth approximately $146,000. Finally, Strs Ohio acquired a new stake in shares of Hooker Furnishings during the 1st quarter worth approximately $124,000. Institutional investors and hedge funds own 73.63% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut Hooker Furnishings from a "hold" rating to a "sell" rating in a research note on Sunday, April 20th.

About Hooker Furnishings

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.