Haverty Furniture Companies, Inc. (NYSE:HVT) announced a quarterly dividend on Tuesday, August 8th, RTT News reports. Investors of record on Wednesday, August 23rd will be given a dividend of 0.15 per share on Friday, September 8th. This represents a $0.60 annualized dividend and a yield of 2.53%. The ex-dividend date is Monday, August 21st. This is a boost from Haverty Furniture Companies’s previous quarterly dividend of $0.12.
Haverty Furniture Companies has raised its dividend payment by an average of 22.4% annually over the last three years. Haverty Furniture Companies has a payout ratio of 46.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Haverty Furniture Companies to earn $1.37 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 43.8%.
Haverty Furniture Companies (NYSE HVT) traded down 0.63% during midday trading on Friday, reaching $23.75. The company had a trading volume of 63,299 shares. Haverty Furniture Companies has a 1-year low of $16.57 and a 1-year high of $26.30. The firm’s 50 day moving average is $23.43 and its 200 day moving average is $23.68. The stock has a market capitalization of $503.93 million, a PE ratio of 16.76 and a beta of 1.11.
Haverty Furniture Companies (NYSE:HVT) last issued its earnings results on Monday, July 31st. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.10. Haverty Furniture Companies had a net margin of 3.67% and a return on equity of 10.58%. The company had revenue of $196.80 million for the quarter, compared to analyst estimates of $199.03 million. During the same period in the prior year, the business posted $0.24 earnings per share. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities analysts anticipate that Haverty Furniture Companies will post $1.28 EPS for the current fiscal year.
In other news, insider Rawson Haverty, Jr. sold 1,964 shares of the stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $23.52, for a total value of $46,193.28. Following the sale, the insider now directly owns 400 shares in the company, valued at $9,408. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven G. Burdette sold 4,800 shares of the stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $23.50, for a total transaction of $112,800.00. Following the completion of the sale, the insider now owns 3,657 shares in the company, valued at $85,939.50. The disclosure for this sale can be found here. 10.31% of the stock is owned by corporate insiders.
HVT has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Haverty Furniture Companies from a “buy” rating to a “hold” rating in a research report on Monday, June 19th. ValuEngine upgraded shares of Haverty Furniture Companies from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Haverty Furniture Companies has an average rating of “Hold” and an average target price of $28.00.
Haverty Furniture Companies Company Profile
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.
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