Ethan Allen Interiors (NYSE:ETD) Shares Gap Down on Disappointing Earnings

Ethan Allen Interiors Inc. (NYSE:ETD)’s share price gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $29.13, but opened at $27.12. Ethan Allen Interiors shares last traded at $26.59, with a volume of 143,883 shares changing hands.

The company reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.07). The business had revenue of $142.70 million during the quarter, compared to analysts’ expectations of $146.85 million. Ethan Allen Interiors had a net margin of 9.76% and a return on equity of 12.62%. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 earnings per share.

Ethan Allen Interiors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 6.04%. Ethan Allen Interiors’s payout ratio is 65.55%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ETD. Argus restated a “hold” rating on shares of Ethan Allen Interiors in a research note on Monday, January 13th. Telsey Advisory Group restated a “market perform” rating on shares of Ethan Allen Interiors in a research report on Tuesday.

Insider Transactions at Ethan Allen Interiors

In related news, CEO M Farooq Kathwari sold 10,000 shares of Ethan Allen Interiors stock in a transaction on Thursday, April 17th. The stock was sold at an average price of $26.31, for a total transaction of $263,100.00. Following the completion of the sale, the chief executive officer now owns 1,621,905 shares of the company’s stock, valued at approximately $42,672,320.55. This trade represents a 0.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 30,000 shares of company stock valued at $822,800. 10.48% of the stock is currently owned by company insiders.

Institutional Trading of Ethan Allen Interiors

Institutional investors and hedge funds have recently modified their holdings of the business. Sanctuary Advisors LLC increased its stake in Ethan Allen Interiors by 2.4% in the fourth quarter. Sanctuary Advisors LLC now owns 14,831 shares of the company’s stock valued at $417,000 after acquiring an additional 342 shares during the last quarter. Unison Advisors LLC boosted its holdings in shares of Ethan Allen Interiors by 1.4% in the 1st quarter. Unison Advisors LLC now owns 30,872 shares of the company’s stock worth $855,000 after purchasing an additional 414 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Ethan Allen Interiors by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,006 shares of the company’s stock valued at $366,000 after purchasing an additional 448 shares during the last quarter. SummerHaven Investment Management LLC increased its position in shares of Ethan Allen Interiors by 1.6% during the 1st quarter. SummerHaven Investment Management LLC now owns 28,914 shares of the company’s stock valued at $801,000 after purchasing an additional 463 shares during the last quarter. Finally, Gotham Asset Management LLC raised its holdings in shares of Ethan Allen Interiors by 5.8% during the 4th quarter. Gotham Asset Management LLC now owns 10,237 shares of the company’s stock valued at $288,000 after buying an additional 561 shares in the last quarter. Hedge funds and other institutional investors own 83.80% of the company’s stock.

Ethan Allen Interiors Stock Performance

The company has a market cap of $656.98 million, a P/E ratio of 10.86 and a beta of 1.20. The stock has a 50-day moving average of $27.36 and a two-hundred day moving average of $28.55.

Ethan Allen Interiors Company Profile

Ethan Allen Interiors Inc operates as an interior design company, and manufacturer and retailer of home furnishings in the United States, Mexico, Honduras, and Canada. The company operates in two segments, Wholesale and Retail. Its products include case goods items, such as beds, dressers, armoires, tables, chairs, buffets, entertainment units, home office furniture, and wooden accents; upholstery comprising fabric-covered items, such as sleepers, recliners and other motion furniture, chairs, ottomans, custom pillows, sofas, loveseats, cut fabrics, and leather; and home accent items consisting of window treatments and drapery hardware, wall decors, florals, lighting, clocks, mattresses, bedspreads, throws, pillows, decorative accents, area rugs, wall coverings, and home and garden furnishings.