Hooker Furnishings (NASDAQ:HOFT) Announces Earnings Results, Misses Estimates By $0.19 EPS

Hooker Furnishings (NASDAQ:HOFT) issued its quarterly earnings data on Friday. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.19), MarketWatch Earnings reports. The firm had revenue of $97.81 million for the quarter. Hooker Furnishings had a negative net margin of 1.08% and a positive return on equity of 5.34%.

Hooker Furnishings Stock Down 17.0 %

Hooker Furnishings stock opened at $17.77 on Friday. The stock has a market capitalization of $194.05 million, a PE ratio of -30.12 and a beta of 1.01. Hooker Furnishings has a twelve month low of $12.90 and a twelve month high of $22.27. The company has a quick ratio of 2.42, a current ratio of 4.26 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average of $20.64 and a 200-day moving average of $18.88.

Hooker Furnishings Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 18th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 4.95%. The ex-dividend date of this dividend is Friday, September 15th. Hooker Furnishings’s dividend payout ratio (DPR) is presently -149.15%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Hooker Furnishings from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP boosted its holdings in Hooker Furnishings by 57.6% during the second quarter. Quantbot Technologies LP now owns 2,190 shares of the company’s stock worth $34,000 after purchasing an additional 800 shares during the last quarter. Victory Capital Management Inc. raised its position in Hooker Furnishings by 29.3% during the fourth quarter. Victory Capital Management Inc. now owns 3,976 shares of the company’s stock worth $74,000 after acquiring an additional 902 shares in the last quarter. State Street Corp raised its position in shares of Hooker Furnishings by 2.6% in the first quarter. State Street Corp now owns 47,566 shares of the company’s stock valued at $865,000 after purchasing an additional 1,200 shares during the period. Royal Bank of Canada raised its position in shares of Hooker Furnishings by 3.2% in the third quarter. Royal Bank of Canada now owns 45,302 shares of the company’s stock valued at $611,000 after purchasing an additional 1,402 shares during the period. Finally, Sei Investments Co. raised its position in shares of Hooker Furnishings by 14.6% in the second quarter. Sei Investments Co. now owns 14,116 shares of the company’s stock valued at $263,000 after purchasing an additional 1,800 shares during the period. Institutional investors and hedge funds own 74.01% of the company’s stock.

Hooker Furnishings Company Profile

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; and imported upholstered furniture under the Hooker Upholstery brand.