Shares of Bassett Furniture Industries Inc. (NASDAQ:BSET) have been given a consensus broker rating score of 3.00 (Hold) from the one analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating.
Brokerages have set a 12 month consensus price objective of $37.00 for the company and are predicting that the company will post $0.35 earnings per share for the current quarter, according to Zacks. Zacks has also given Bassett Furniture Industries an industry rank of 138 out of 265 based on the ratings given to related companies.
Several research firms recently issued reports on BSET. BidaskClub upgraded Bassett Furniture Industries from a “strong sell” rating to a “sell” rating in a research report on Saturday, February 17th. Zacks Investment Research cut Bassett Furniture Industries from a “buy” rating to a “strong sell” rating in a research report on Tuesday, January 23rd. Finally, ValuEngine cut Bassett Furniture Industries from a “buy” rating to a “hold” rating in a research report on Friday, December 1st.
Shares of Bassett Furniture Industries (BSET) opened at $33.70 on Monday. Bassett Furniture Industries has a 1 year low of $24.90 and a 1 year high of $41.30. The stock has a market capitalization of $362.78, a PE ratio of 19.82 and a beta of 0.87.
Bassett Furniture Industries (NASDAQ:BSET) last released its earnings results on Friday, January 19th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the 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 quarter in the prior year, the business posted $0.47 EPS. analysts expect that Bassett Furniture Industries will post 1.72 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 25th. Shareholders of record on Friday, May 11th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.31%. The ex-dividend date is Thursday, May 10th. Bassett Furniture Industries’s dividend payout ratio is presently 25.88%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in Bassett Furniture Industries by 441.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,620 shares of the company’s stock valued at $178,000 after buying an additional 3,767 shares in the last quarter. MetLife Investment Advisors LLC purchased a new position in Bassett Furniture Industries during the 4th quarter valued at approximately $202,000. Alliancebernstein L.P. purchased a new position in Bassett Furniture Industries during the 2nd quarter valued at approximately $224,000. Captrust Financial Advisors purchased a new position in Bassett Furniture Industries during the 4th quarter valued at approximately $226,000. Finally, Alps Advisors Inc. purchased a new position in Bassett Furniture Industries during the 4th quarter valued at approximately $227,000. Institutional investors and hedge funds own 73.19% of the company’s stock.
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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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