Brokerages Anticipate Haverty Furniture Companies, Inc. (HVT) Will Post Quarterly Sales of $211.15 Million

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Wall Street analysts expect that Haverty Furniture Companies, Inc. (NYSE:HVT) will report sales of $211.15 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Haverty Furniture Companies’ earnings. The highest sales estimate is $213.90 million and the lowest is $208.40 million. Haverty Furniture Companies reported sales of $207.65 million in the same quarter last year, which indicates a positive year-over-year growth rate of 1.7%. The company is scheduled to report its next earnings results on Tuesday, October 30th.

On average, analysts expect that Haverty Furniture Companies will report full-year sales of $825.80 million for the current year, with estimates ranging from $822.40 million to $829.20 million. For the next year, analysts anticipate that the company will post sales of $838.00 million, with estimates ranging from $833.40 million to $842.60 million. Zacks’ sales averages are an average based on a survey of research firms that cover Haverty Furniture Companies.

Haverty Furniture Companies (NYSE:HVT) last issued its earnings results on Tuesday, July 31st. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03. The firm had revenue of $198.78 million during the quarter, compared to analyst estimates of $195.55 million. Haverty Furniture Companies had a net margin of 2.61% and a return on equity of 9.29%. The company’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter last year, the business earned $0.29 earnings per share.

A number of equities analysts have weighed in on the stock. ValuEngine upgraded shares of Haverty Furniture Companies from a “sell” rating to a “hold” rating in a research report on Tuesday, July 10th. TheStreet upgraded shares of Haverty Furniture Companies from a “c+” rating to a “b” rating in a research report on Thursday, August 23rd. Finally, Zacks Investment Research upgraded shares of Haverty Furniture Companies from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Tuesday, August 7th.

In other Haverty Furniture Companies news, Director G. Thomas Hough bought 2,000 shares of the business’s stock in a transaction on Wednesday, August 8th. The stock was purchased at an average price of $21.50 per share, for a total transaction of $43,000.00. Following the completion of the transaction, the director now directly owns 1,883 shares of the company’s stock, valued at $40,484.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 3.05% of the stock is owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp boosted its position in shares of Haverty Furniture Companies by 1.8% in the second quarter. Northern Trust Corp now owns 681,597 shares of the company’s stock valued at $14,723,000 after acquiring an additional 11,748 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Haverty Furniture Companies by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 365,584 shares of the company’s stock valued at $7,897,000 after acquiring an additional 2,349 shares during the period. Citadel Advisors LLC boosted its position in shares of Haverty Furniture Companies by 366.0% in the second quarter. Citadel Advisors LLC now owns 188,412 shares of the company’s stock valued at $4,070,000 after acquiring an additional 147,980 shares during the period. BlackRock Inc. boosted its position in shares of Haverty Furniture Companies by 6.5% in the second quarter. BlackRock Inc. now owns 2,688,407 shares of the company’s stock valued at $58,070,000 after acquiring an additional 164,255 shares during the period. Finally, Royce & Associates LP boosted its position in shares of Haverty Furniture Companies by 0.4% in the second quarter. Royce & Associates LP now owns 1,268,800 shares of the company’s stock valued at $27,406,000 after acquiring an additional 4,500 shares during the period. Institutional investors own 80.80% of the company’s stock.

NYSE:HVT traded down $0.75 on Monday, reaching $20.57. 54,998 shares of the company’s stock were exchanged, compared to its average volume of 109,901. The company has a quick ratio of 1.12, a current ratio of 2.29 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $463.37 million, a PE ratio of 16.46 and a beta of 0.85. Haverty Furniture Companies has a 52 week low of $17.70 and a 52 week high of $26.15.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 7th. Shareholders of record on Wednesday, August 22nd were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, August 21st. This represents a $0.72 dividend on an annualized basis and a yield of 3.50%. Haverty Furniture Companies’s dividend payout ratio is presently 57.60%.

About Haverty Furniture Companies

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and accessories in the United States. The company offers furniture merchandise under the Havertys brand name. It also provides custom upholstery products, as well as mattress product lines under the Sealy, Tempur-Pedic, Serta, Stearns & Foster, and Beautyrest Black names.

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