Sidoti Predicts Reduced Earnings for Hooker Furnishings

Key Points

• Sidoti cut its FY2027 EPS forecast for Hooker Furnishings to $0.60 (from $0.70), below the street consensus of $0.72 per share.
• The stock carries a consensus rating of "Reduce" amid mixed analyst action—Weiss reiterated a sell while Zacks and Wall Street Zen have upgraded to hold.
• Key fundamentals: HOFT has a market cap of about $131M, a negative P/E and negative net margin, recently beat quarterly EPS but missed revenue, and yields 3.8% in dividends.

Hooker Furnishings Corp. (NASDAQ:HOFT - Free Report) - Equities research analysts at Sidoti cut their FY2027 EPS estimates for Hooker Furnishings in a note issued to investors on Wednesday, April 29th. Sidoti analyst A. Lebiedzinski now anticipates that the company will post earnings per share of $0.60 for the year, down from their previous estimate of $0.70. The consensus estimate for Hooker Furnishings' current full-year earnings is $0.72 per share.

HOFT has been the subject of several other reports. Weiss Ratings reissued a "sell (d)" rating on shares of Hooker Furnishings in a research report on Tuesday, April 21st. Zacks Research raised shares of Hooker Furnishings from a "strong sell" rating to a "hold" rating in a research report on Tuesday, March 3rd. Finally, Wall Street Zen raised shares of Hooker Furnishings from a "sell" rating to a "hold" rating in a research report on Sunday, April 19th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Reduce".

Hooker Furnishings Stock Performance

HOFT stock opened at $12.15 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.60 and a current ratio of 3.37. The stock has a market cap of $130.98 million, a P/E ratio of -4.78, a P/E/G ratio of 1.27 and a beta of 1.34. The firm has a 50 day simple moving average of $13.17 and a 200 day simple moving average of $11.97. Hooker Furnishings has a 52 week low of $8.46 and a 52 week high of $15.99.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) last posted its quarterly earnings results on Thursday, April 16th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.05 by $0.03. The business had revenue of $66.98 million during the quarter, compared to analysts' expectations of $74.89 million. Hooker Furnishings had a negative net margin of 8.84% and a negative return on equity of 0.71%.

Institutional Trading of Hooker Furnishings

Institutional investors and hedge funds have recently modified their holdings of the company. Osaic Holdings Inc. lifted its stake in shares of Hooker Furnishings by 940.0% in the second quarter. Osaic Holdings Inc. now owns 10,400 shares of the company's stock worth $110,000 after buying an additional 9,400 shares during the last quarter. Cerity Partners LLC acquired a new stake in shares of Hooker Furnishings in the fourth quarter worth $117,000. Strs Ohio acquired a new stake in shares of Hooker Furnishings in the first quarter worth $124,000. LPL Financial LLC lifted its stake in shares of Hooker Furnishings by 16.6% in the fourth quarter. LPL Financial LLC now owns 11,684 shares of the company's stock worth $132,000 after buying an additional 1,660 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in Hooker Furnishings during the 1st quarter valued at $146,000. 73.60% of the stock is currently owned by institutional investors and hedge funds.

Hooker Furnishings Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 16th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Monday, March 16th. Hooker Furnishings's payout ratio is presently -18.11%.

About Hooker Furnishings

Hooker Furnishings, formerly known as Hooker Furniture Corporation, is a designer, marketer and distributor of high-quality home furnishings. Headquartered in Martinsville, Virginia, the company offers a broad range of wood and upholstered furniture products across bedroom, dining, home office and accent categories. Its portfolio includes solid wood and engineered wood case goods, upholstered seating, accent tables and decorative accessories, reflecting styles that range from traditional to contemporary.

The company's operations are organized into three reportable segments: Domestic Wholesale, Retail and Logistics, and International.

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