Hooker Furnishings (NASDAQ:HOFT) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Shares of Hooker Furnishings Corp. (NASDAQ:HOFT - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $11.13 and traded as high as $11.49. Hooker Furnishings shares last traded at $10.76, with a volume of 128,255 shares traded.

Analyst Upgrades and Downgrades

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

Hooker Furnishings Stock Performance

The firm's 50-day moving average price is $10.45 and its two-hundred day moving average price is $11.07. The company has a quick ratio of 1.96, a current ratio of 3.94 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $114.81 million, a PE ratio of -9.84, a P/E/G ratio of 5.80 and a beta of 1.37.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) last announced its quarterly earnings data on Thursday, June 12th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.13). The business had revenue of $85.32 million during the quarter, compared to the consensus estimate of $88.87 million. Hooker Furnishings had a negative net margin of 2.95% and a negative return on equity of 3.41%. As a group, research analysts predict that Hooker Furnishings Corp. will post -0.44 earnings per share for the current fiscal year.

Hooker Furnishings Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 16th were paid a $0.23 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.92 annualized dividend and a dividend yield of 8.57%. Hooker Furnishings's dividend payout ratio is presently -84.40%.

Institutional Investors Weigh In On Hooker Furnishings

Institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp raised its position in shares of Hooker Furnishings by 27.7% in the fourth quarter. Bank of New York Mellon Corp now owns 89,658 shares of the company's stock valued at $1,256,000 after purchasing an additional 19,459 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Hooker Furnishings by 6.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 31,531 shares of the company's stock valued at $442,000 after acquiring an additional 1,900 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Hooker Furnishings by 36.1% during the 4th quarter. JPMorgan Chase & Co. now owns 59,467 shares of the company's stock valued at $833,000 after buying an additional 15,779 shares in the last quarter. Foundry Partners LLC grew its position in Hooker Furnishings by 16.6% in the 4th quarter. Foundry Partners LLC now owns 100,455 shares of the company's stock valued at $1,407,000 after acquiring an additional 14,300 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Hooker Furnishings by 27.8% in the fourth quarter. Wells Fargo & Company MN now owns 6,227 shares of the company's stock valued at $87,000 after purchasing an additional 1,356 shares during the period. Institutional investors and hedge funds own 73.63% of the company's stock.

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.