Hooker Furnishings (NASDAQ:HOFT) Posts Earnings Results, Misses Expectations By $0.43 EPS

Hooker Furnishings (NASDAQ:HOFT – Get Rating) announced its earnings results on Wednesday. The company reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.43), MarketWatch Earnings reports. Hooker Furnishings had a return on equity of 9.14% and a net margin of 3.94%.

NASDAQ:HOFT opened at $18.00 on Thursday. Hooker Furnishings has a twelve month low of $17.59 and a twelve month high of $42.90. The firm has a market capitalization of $214.56 million, a price-to-earnings ratio of 8.96 and a beta of 0.87. The stock’s 50 day moving average price is $20.15 and its two-hundred day moving average price is $23.00.

The business also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Thursday, March 17th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, March 16th. This represents a $0.80 dividend on an annualized basis and a yield of 4.44%. Hooker Furnishings’s dividend payout ratio is 39.80%.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its stake in shares of Hooker Furnishings by 0.6% during the 4th quarter. BlackRock Inc. now owns 957,760 shares of the company’s stock worth $22,295,000 after purchasing an additional 5,460 shares during the last quarter. State Street Corp grew its holdings in Hooker Furnishings by 1.5% during the fourth quarter. State Street Corp now owns 205,219 shares of the company’s stock worth $4,777,000 after purchasing an additional 3,054 shares during the period. Bank of New York Mellon Corp increased its position in Hooker Furnishings by 8.9% during the third quarter. Bank of New York Mellon Corp now owns 112,629 shares of the company’s stock worth $3,040,000 after buying an additional 9,182 shares during the last quarter. Morgan Stanley raised its stake in Hooker Furnishings by 303.3% in the second quarter. Morgan Stanley now owns 76,107 shares of the company’s stock valued at $2,636,000 after buying an additional 57,234 shares during the period. Finally, Invesco Ltd. lifted its position in shares of Hooker Furnishings by 10.7% in the third quarter. Invesco Ltd. now owns 25,373 shares of the company’s stock valued at $684,000 after buying an additional 2,456 shares during the last quarter. Hedge funds and other institutional investors own 82.92% of the company’s stock.

Separately, StockNews.com assumed coverage on shares of Hooker Furnishings in a research note on Thursday, March 31st. They set a “hold” rating for the company.

About Hooker Furnishings (Get Rating)

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. The company's Hooker Branded segment offers design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand name; and imported upholstered furniture under the Hooker Upholstery brand.

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