Hooker Furnishings (NASDAQ:HOFT) Releases 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 quarterly earnings data on Thursday. The company reported ($0.31) EPS for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.19), RTT News reports. The firm had revenue of $82.15 million for the quarter, compared to analysts' expectations of $91.21 million. Hooker Furnishings had a negative return on equity of 4.11% and a negative net margin of 3.40%.During the same quarter in the previous year, the company posted ($0.19) EPS.

Hooker Furnishings Price Performance

NASDAQ:HOFT traded up $0.01 during mid-day trading on Tuesday, hitting $10.01. 15,120 shares of the company's stock traded hands, compared to its average volume of 74,861. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.96 and a current ratio of 3.94. The firm's 50 day simple moving average is $10.31 and its 200 day simple moving average is $10.23. Hooker Furnishings has a 1 year low of $7.34 and a 1 year high of $19.79. The company has a market cap of $107.05 million, a PE ratio of -8.27, a price-to-earnings-growth ratio of 5.68 and a beta of 1.32.

Hooker Furnishings Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 19th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 9.2%. The ex-dividend date is Friday, September 19th. Hooker Furnishings's dividend payout ratio (DPR) is -76.03%.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded shares of Hooker Furnishings from a "hold" rating to a "strong sell" rating in a report on Friday. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Sell".

Institutional Investors Weigh In On Hooker Furnishings

Several hedge funds have recently modified their holdings of HOFT. Osaic Holdings Inc. boosted its stake in shares of Hooker Furnishings by 940.0% during the 2nd quarter. Osaic Holdings Inc. now owns 10,400 shares of the company's stock worth $110,000 after purchasing an additional 9,400 shares during the last quarter. Strs Ohio acquired a new stake in shares of Hooker Furnishings during the 1st quarter worth about $124,000. Jane Street Group LLC acquired a new stake in shares of Hooker Furnishings during the 1st quarter worth about $146,000. PDT Partners LLC acquired a new stake in shares of Hooker Furnishings during the 2nd quarter worth about $190,000. Finally, Jump Financial LLC acquired a new stake in shares of Hooker Furnishings during the 2nd quarter worth about $202,000. 73.60% of the stock is owned by institutional investors and hedge funds.

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.