Hooker Furnishings (NASDAQ:HOFT) Issues Quarterly Earnings Results, Misses Expectations By $0.19 EPS

Key Points

• Hooker Furnishings reported a quarterly loss of ($0.31) EPS, missing the consensus estimate by ($0.19) EPS and generating revenues of $82.15 million, below the expected $91.21 million.
• The company announced a quarterly dividend of $0.23 per share, resulting in an annualized yield of 8.4% despite a negative payout ratio of -84.40%.
• Hooker Furnishings has a market cap of $117.49 million and a consensus analyst rating of "Hold", following recent adjustments in institutional investments in the company.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) announced its earnings results on Thursday. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.19), RTT News reports. Hooker Furnishings had a negative return on equity of 3.41% and a negative net margin of 2.95%.The firm had revenue of $82.15 million for the quarter, compared to the consensus estimate of $91.21 million. During the same period in the previous year, the firm earned ($0.19) EPS.

Hooker Furnishings Price Performance

Shares of NASDAQ:HOFT opened at $10.98 on Thursday. The company's fifty day moving average is $10.38 and its two-hundred day moving average is $10.32. The company has a quick ratio of 1.96, a current ratio of 3.94 and a debt-to-equity ratio of 0.11. Hooker Furnishings has a 12-month low of $7.34 and a 12-month high of $19.79. The company has a market cap of $117.49 million, a P/E ratio of -10.07, a price-to-earnings-growth ratio of 5.96 and a beta of 1.32.

Hooker Furnishings Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 8.4%. The ex-dividend date of this dividend is Friday, September 19th. Hooker Furnishings's payout ratio is -84.40%.

Institutional Trading of Hooker Furnishings

Several large investors have recently added to or reduced their stakes in HOFT. Empowered Funds LLC raised its stake in Hooker Furnishings by 7.2% during the 1st quarter. Empowered Funds LLC now owns 55,319 shares of the company's stock valued at $555,000 after purchasing an additional 3,696 shares during the period. Jane Street Group LLC purchased a new position in shares of Hooker Furnishings during the 1st quarter valued at $146,000. Strs Ohio purchased a new position in shares of Hooker Furnishings during the 1st quarter valued at $124,000. Marshall Wace LLP purchased a new position in shares of Hooker Furnishings during the 2nd quarter valued at $495,000. Finally, Jump Financial LLC purchased a new position in shares of Hooker Furnishings during the 2nd quarter valued at $202,000. 73.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised Hooker Furnishings to a "hold" rating in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of "Hold".

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.

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