Ethan Allen Interiors (NYSE:ETD) Sets New 52-Week Low Following Weak Earnings

Ethan Allen Interiors Inc. (NYSE:ETD)’s share price reached a new 52-week low on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $24.42 and last traded at $25.20, with a volume of 44543 shares traded. The stock had previously closed at $27.19.

The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.01). Ethan Allen Interiors had a return on equity of 10.06% and a net margin of 7.79%.The business had revenue of $146.98 million for the quarter, compared to analysts’ expectations of $149.15 million. During the same quarter in the prior year, the business posted $0.58 EPS. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year.

Ethan Allen Interiors Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 6.3%. Ethan Allen Interiors’s dividend payout ratio (DPR) is 77.61%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Zacks Research raised shares of Ethan Allen Interiors from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Telsey Advisory Group lowered their target price on shares of Ethan Allen Interiors from $30.00 to $28.00 and set a “market perform” rating for the company in a research note on Thursday. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Ethan Allen Interiors in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Ethan Allen Interiors has an average rating of “Hold” and an average target price of $28.00.

Insider Buying and Selling at Ethan Allen Interiors

In other Ethan Allen Interiors news, CEO M Farooq Kathwari sold 15,000 shares of the company’s stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $28.01, for a total value of $420,150.00. Following the completion of the sale, the chief executive officer directly owned 1,583,652 shares in the company, valued at approximately $44,358,092.52. This represents a 0.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last three months, insiders sold 31,400 shares of company stock valued at $900,866. 9.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Ethan Allen Interiors

Hedge funds have recently added to or reduced their stakes in the business. IFP Advisors Inc lifted its stake in Ethan Allen Interiors by 12,857.1% in the first quarter. IFP Advisors Inc now owns 907 shares of the company’s stock worth $25,000 after acquiring an additional 900 shares during the period. Tower Research Capital LLC TRC lifted its stake in Ethan Allen Interiors by 365.5% in the second quarter. Tower Research Capital LLC TRC now owns 3,054 shares of the company’s stock worth $85,000 after acquiring an additional 2,398 shares during the period. AlphaQuest LLC lifted its position in shares of Ethan Allen Interiors by 344.8% in the 1st quarter. AlphaQuest LLC now owns 3,398 shares of the company’s stock worth $94,000 after purchasing an additional 2,634 shares during the period. Quarry LP lifted its position in shares of Ethan Allen Interiors by 72.2% in the 1st quarter. Quarry LP now owns 4,484 shares of the company’s stock worth $124,000 after purchasing an additional 1,880 shares during the period. Finally, CWM LLC lifted its position in shares of Ethan Allen Interiors by 391.4% in the 3rd quarter. CWM LLC now owns 4,236 shares of the company’s stock worth $125,000 after purchasing an additional 3,374 shares during the period. 83.80% of the stock is owned by hedge funds and other institutional investors.

Ethan Allen Interiors Trading Down 9.6%

The firm’s 50-day moving average price is $28.65 and its two-hundred day moving average price is $28.27. The stock has a market cap of $625.66 million, a PE ratio of 13.29 and a beta of 1.12.

About Ethan Allen Interiors

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.