Bassett Furniture Industries (BSET) Upgraded by BidaskClub to Sell

Bassett Furniture Industries (BSET) Upgraded by BidaskClub to Sell

BidaskClub upgraded shares of Bassett Furniture Industries (NASDAQ:BSET) from a strong sell rating to a sell rating in a research note released on Saturday.

Several other analysts have also commented on BSET. ValuEngine lowered shares of Bassett Furniture Industries from a buy rating to a hold rating in a research report on Friday, December 1st. Zacks Investment Research upgraded shares of Bassett Furniture Industries from a hold rating to a buy rating and set a $45.00 price target on the stock in a research report on Thursday, December 28th.

Shares of Bassett Furniture Industries (NASDAQ BSET) opened at $33.90 on Friday. The company has a market cap of $364.93, a price-to-earnings ratio of 19.94 and a beta of 0.84. Bassett Furniture Industries has a 52-week low of $24.90 and a 52-week high of $41.30.

Bassett Furniture Industries (NASDAQ:BSET) last released its quarterly earnings results on Friday, January 19th. The company reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.06). The firm had revenue of $118.23 million for the quarter, compared to analyst estimates of $118.22 million. Bassett Furniture Industries had a net margin of 4.03% and a return on equity of 9.00%. During the same quarter in the prior year, the business posted $0.47 EPS. research analysts forecast that Bassett Furniture Industries will post 1.72 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be given a $0.11 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $0.44 annualized dividend and a dividend yield of 1.30%. Bassett Furniture Industries’s dividend payout ratio (DPR) is 25.88%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Royce & Associates LP grew its position in shares of Bassett Furniture Industries by 3.2% in the fourth quarter. Royce & Associates LP now owns 1,287,727 shares of the company’s stock valued at $48,419,000 after purchasing an additional 39,680 shares during the period. BlackRock Inc. grew its position in shares of Bassett Furniture Industries by 2.1% in the fourth quarter. BlackRock Inc. now owns 745,137 shares of the company’s stock valued at $28,019,000 after purchasing an additional 15,259 shares during the period. Gamco Investors INC. ET AL grew its position in shares of Bassett Furniture Industries by 0.5% in the fourth quarter. Gamco Investors INC. ET AL now owns 571,939 shares of the company’s stock valued at $21,505,000 after purchasing an additional 2,693 shares during the period. Renaissance Technologies LLC grew its position in shares of Bassett Furniture Industries by 8.0% in the fourth quarter. Renaissance Technologies LLC now owns 559,800 shares of the company’s stock valued at $21,048,000 after purchasing an additional 41,700 shares during the period. Finally, Thomson Horstmann & Bryant Inc. grew its position in shares of Bassett Furniture Industries by 2.4% in the fourth quarter. Thomson Horstmann & Bryant Inc. now owns 360,586 shares of the company’s stock valued at $13,558,000 after purchasing an additional 8,330 shares during the period. Institutional investors and hedge funds own 70.59% of the company’s stock.

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Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Incorporated is a manufacturer, importer and retailer of home furnishings. The Company’s segments include Wholesale, Retail – Company-owned stores and Logistical services. Its wholesale home furnishings segment is involved in the design, manufacture, sourcing, sale and distribution of furniture products to a network of Bassett stores (licensee-owned stores and Company-owned stores) and independent furniture retailers.

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BidaskClub upgraded shares of Bassett Furniture Industries (NASDAQ:BSET) from a strong sell rating to a sell rating in a research report sent to investors on Saturday.

Several other research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Bassett Furniture Industries from a hold rating to a buy rating and set a $45.00 target price for the company in a report on Thursday, December 28th. ValuEngine cut shares of Bassett Furniture Industries from a buy rating to a hold rating in a report on Friday, December 1st.

Bassett Furniture Industries (BSET) opened at $33.90 on Friday. Bassett Furniture Industries has a fifty-two week low of $24.90 and a fifty-two week high of $41.30. The stock has a market cap of $364.93, a price-to-earnings ratio of 19.94 and a beta of 0.84.

Bassett Furniture Industries (NASDAQ:BSET) last issued its earnings results on Friday, January 19th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.06). Bassett Furniture Industries had a return on equity of 9.00% and a net margin of 4.03%. The business had revenue of $118.23 million for the quarter, compared to analysts’ expectations of $118.22 million. During the same period last year, the business earned $0.47 EPS. analysts anticipate that Bassett Furniture Industries will post 1.72 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 9th will be issued a dividend of $0.11 per share. The ex-dividend date is Thursday, February 8th. This represents a $0.44 annualized dividend and a dividend yield of 1.30%. Bassett Furniture Industries’s dividend payout ratio (DPR) is presently 25.88%.

Institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its holdings in shares of Bassett Furniture Industries by 441.6% during the third quarter. JPMorgan Chase & Co. now owns 4,620 shares of the company’s stock worth $178,000 after purchasing an additional 3,767 shares during the last quarter. MetLife Investment Advisors LLC acquired a new stake in Bassett Furniture Industries during the fourth quarter valued at $202,000. Dynamic Technology Lab Private Ltd acquired a new stake in Bassett Furniture Industries during the second quarter valued at $206,000. Alliancebernstein L.P. acquired a new stake in Bassett Furniture Industries during the second quarter valued at $224,000. Finally, Captrust Financial Advisors acquired a new stake in Bassett Furniture Industries during the fourth quarter valued at $226,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “Bassett Furniture Industries (BSET) Upgraded by BidaskClub to Sell” was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this story on another domain, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The legal version of this story can be accessed at https://www.dispatchtribunal.com/2018/02/18/bassett-furniture-industries-bset-upgraded-by-bidaskclub-to-sell.html.

About Bassett Furniture Industries

Bassett Furniture Industries, Incorporated is a manufacturer, importer and retailer of home furnishings. The Company’s segments include Wholesale, Retail – Company-owned stores and Logistical services. Its wholesale home furnishings segment is involved in the design, manufacture, sourcing, sale and distribution of furniture products to a network of Bassett stores (licensee-owned stores and Company-owned stores) and independent furniture retailers.

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