Haverty Furniture Companies, Inc. Forecasted to Earn Q3 2019 Earnings of $0.42 Per Share (HVT)

Haverty Furniture Companies, Inc. (NYSE:HVT) – Equities research analysts at KeyCorp lifted their Q3 2019 earnings estimates for shares of Haverty Furniture Companies in a report released on Wednesday, May 1st. KeyCorp analyst B. Thomas now anticipates that the company will post earnings per share of $0.42 for the quarter, up from their prior estimate of $0.41. KeyCorp also issued estimates for Haverty Furniture Companies’ FY2020 earnings at $1.50 EPS.

Other analysts also recently issued research reports about the stock. TheStreet upgraded shares of Haverty Furniture Companies from a “c+” rating to a “b-” rating in a report on Thursday, February 14th. Zacks Investment Research upgraded shares of Haverty Furniture Companies from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Wednesday, March 13th.

HVT traded up $0.15 during trading on Friday, hitting $19.27. 302,017 shares of the company’s stock were exchanged, compared to its average volume of 171,369. The company has a market cap of $396.38 million, a price-to-earnings ratio of 13.57 and a beta of 0.84. The company has a current ratio of 1.85, a quick ratio of 1.09 and a debt-to-equity ratio of 0.17. Haverty Furniture Companies has a fifty-two week low of $18.00 and a fifty-two week high of $25.09.

Haverty Furniture Companies (NYSE:HVT) last released its quarterly earnings data on Tuesday, April 30th. The company reported $0.17 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.05). Haverty Furniture Companies had a return on equity of 9.68% and a net margin of 3.43%. The business had revenue of $187.24 million for the quarter, compared to analyst estimates of $198.82 million. During the same quarter in the previous year, the company posted $0.29 EPS. The business’s quarterly revenue was down 6.1% on a year-over-year basis.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Somerset Trust Co grew its position in Haverty Furniture Companies by 152.8% during the first quarter. Somerset Trust Co now owns 1,279 shares of the company’s stock valued at $28,000 after buying an additional 773 shares during the period. BNP Paribas Arbitrage SA grew its position in Haverty Furniture Companies by 124.4% during the first quarter. BNP Paribas Arbitrage SA now owns 3,983 shares of the company’s stock valued at $87,000 after buying an additional 2,208 shares during the period. Metropolitan Life Insurance Co. NY grew its position in Haverty Furniture Companies by 360.3% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,836 shares of the company’s stock valued at $110,000 after buying an additional 4,568 shares during the period. Nisa Investment Advisors LLC grew its position in Haverty Furniture Companies by 1,090.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,950 shares of the company’s stock valued at $112,000 after buying an additional 5,450 shares during the period. Finally, Oregon Public Employees Retirement Fund bought a new position in Haverty Furniture Companies during the fourth quarter valued at about $136,000. Institutional investors own 84.35% of the company’s stock.

In other news, SVP Rawson Haverty, Jr. sold 4,257 shares of the stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $23.22, for a total value of $98,847.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jenny H. Parker sold 7,069 shares of the stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $23.50, for a total transaction of $166,121.50. Following the completion of the sale, the vice president now owns 20,119 shares of the company’s stock, valued at approximately $472,796.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,438 shares of company stock valued at $822,955. 9.27% of the stock is currently owned by corporate insiders.

Haverty Furniture Companies Company Profile

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and accessories in the United States. The company offers furniture merchandise under the Havertys brand name. It also provides custom upholstery products, as well as mattress product lines under the Sealy, Tempur-Pedic, Serta, Stearns & Foster, and Beautyrest Black names.

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