Haverty Furniture Companies (HVT) Posts Quarterly Earnings Results, Misses Expectations By $0.17 EPS

Haverty Furniture Companies (NYSE:HVT) released its quarterly earnings data on Tuesday. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.17), Bloomberg Earnings reports. The business had revenue of $214.96 million during the quarter, compared to analysts’ expectations of $221.20 million. Haverty Furniture Companies had a net margin of 3.53% and a return on equity of 10.10%. The firm’s revenue was down 2.6% on a year-over-year basis. During the same period last year, the company earned $0.52 earnings per share.

Haverty Furniture Companies (NYSE:HVT) traded down $0.60 during mid-day trading on Tuesday, hitting $21.00. 97,082 shares of the stock traded hands, compared to its average volume of 134,855. The stock has a market cap of $458.33, a P/E ratio of 15.44 and a beta of 1.01. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.17 and a quick ratio of 1.16. Haverty Furniture Companies has a fifty-two week low of $20.71 and a fifty-two week high of $27.23.

In other news, insider Rawson Haverty, Jr. sold 23,000 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $23.30, for a total value of $535,900.00. Following the sale, the insider now directly owns 82,331 shares of the company’s stock, valued at approximately $1,918,312.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Pine Hill Associates, Llc sold 7,921 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $23.79, for a total transaction of $188,440.59. The disclosure for this sale can be found here. 10.31% of the stock is owned by corporate insiders.

Separately, Zacks Investment Research raised shares of Haverty Furniture Companies from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a report on Friday, January 12th.

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About Haverty Furniture Companies

Haverty Furniture Companies, Inc is a retailer of residential furniture and accessories. The Company sells home furnishings in its retail stores and through its Website, havertys.com. As of December 31, 2016, the Company had 124 stores in 16 states in the Southern and Midwest regions. As of December 31, 2016, the Company’s retail store space totaled approximately 4.5 million square feet for 124 stores.

Earnings History for Haverty Furniture Companies (NYSE:HVT)

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