Bassett Furniture Industries, Incorporated (BSET) To Go Ex-Dividend on November 15th

Bassett Furniture Industries, Incorporated (NASDAQ:BSET) announced a quarterly dividend on Wednesday, October 9th,Zacks Dividends reports. Shareholders of record on Friday, November 15th will be paid a dividend of 0.20 per share on Friday, November 29th. This represents a $0.80 annualized dividend and a yield of 5.40%. The ex-dividend date of this dividend is Friday, November 15th.

Bassett Furniture Industries has raised its dividend payment by an average of 14.3% per year over the last three years. Bassett Furniture Industries has a payout ratio of 103.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Bassett Furniture Industries to earn $0.80 per share next year, which means the company may not be able to cover its $0.80 annual dividend with an expected future payout ratio of 100.0%.

Bassett Furniture Industries Trading Down 2.0 %

Shares of Bassett Furniture Industries stock opened at $14.81 on Wednesday. The firm’s 50-day simple moving average is $14.29 and its 200-day simple moving average is $13.94. Bassett Furniture Industries has a twelve month low of $12.10 and a twelve month high of $17.89.

Bassett Furniture Industries (NASDAQ:BSET) last announced its quarterly earnings results on Wednesday, October 9th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.18). Bassett Furniture Industries had a negative return on equity of 3.47% and a negative net margin of 5.00%. The business had revenue of $75.62 million for the quarter, compared to the consensus estimate of $78.63 million. During the same quarter in the prior year, the business earned ($0.30) EPS. On average, equities analysts forecast that Bassett Furniture Industries will post -0.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com cut Bassett Furniture Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th.

About Bassett Furniture Industries

Bassett Furniture Industries, Incorporated, together with its subsidiaries, manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail Company-Owned Stores, and Corporate and Other. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products, including dining, bedroom and bedding, home decorations, rugs, and outdoor furniture to a network of company-owned retail stores, licensee-owned stores, and independent retailers.