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

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

Hooker Furnishings Stock Down 10.7%

Shares of HOFT traded down $1.22 during trading hours on Thursday, hitting $10.14. 277,141 shares of the company were exchanged, compared to its average volume of 48,299. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.76 and a current ratio of 3.16. The company has a market cap of $108.53 million, a PE ratio of -11.14, a PEG ratio of 0.85 and a beta of 1.37. The firm's 50 day moving average is $9.41 and its 200-day moving average is $12.09. Hooker Furnishings has a 52 week low of $7.34 and a 52 week high of $19.79.

Hooker Furnishings Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.92 annualized dividend and a yield of 9.07%. Hooker Furnishings's dividend payout ratio (DPR) is currently -77.31%.

Institutional Investors Weigh In On Hooker Furnishings

A number of large investors have recently added to or reduced their stakes in the stock. Strs Ohio bought a new position in shares of Hooker Furnishings in the first quarter valued at approximately $124,000. Jane Street Group LLC bought a new position in Hooker Furnishings in the 1st quarter worth $146,000. Finally, Empowered Funds LLC raised its holdings in Hooker Furnishings by 7.2% in the 1st quarter. Empowered Funds LLC now owns 55,319 shares of the company's stock worth $555,000 after acquiring an additional 3,696 shares during the period. Institutional investors own 73.63% of the company's stock.

Analyst Ratings Changes

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

Hooker Furnishings Company Profile

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.