Haverty Furniture Companies, Inc. (HVT) to Issue Quarterly Dividend of $0.15 on September 8th

Haverty Furniture Companies, Inc. (NYSE:HVT) declared a quarterly dividend on Tuesday, August 8th, RTT News reports. Stockholders of record on Wednesday, August 23rd will be paid a dividend of 0.15 per share on Friday, September 8th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Monday, August 21st. This is an increase 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% per year over the last three years. Haverty Furniture Companies has a dividend payout ratio of 46.9% meaning its dividend is sufficiently covered by earnings. 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) opened at 23.75 on Friday. The firm has a market cap of $503.93 million, a price-to-earnings ratio of 16.76 and a beta of 1.11. The stock’s 50 day moving average is $23.43 and its 200-day moving average is $23.68. Haverty Furniture Companies has a 12 month low of $16.57 and a 12 month high of $26.30.

Haverty Furniture Companies (NYSE:HVT) last released its earnings results on Monday, July 31st. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ 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 the consensus estimate of $199.03 million. During the same quarter in the previous year, the company earned $0.24 EPS. Haverty Furniture Companies’s quarterly revenue was up 1.0% compared to the same quarter last year. On average, analysts anticipate that Haverty Furniture Companies will post $1.28 earnings per share for the current fiscal year.

A number of research firms recently issued reports on HVT. Zacks Investment Research upgraded shares of Haverty Furniture Companies from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. ValuEngine upgraded shares of Haverty Furniture Companies from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $28.00.

In related news, insider Steven G. Burdette sold 4,800 shares of the business’s stock in a transaction 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 transaction, the insider now owns 3,657 shares in the company, valued at approximately $85,939.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rawson Haverty, Jr. sold 1,964 shares of the business’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $23.52, for a total transaction of $46,193.28. Following the transaction, the insider now owns 400 shares in the company, valued at approximately $9,408. The disclosure for this sale can be found here. 10.31% of the stock is owned by insiders.

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.