Hooker Furnishings Co. (NASDAQ:HOFT) Plans $0.23 Quarterly Dividend

Hooker Furnishings Co. (NASDAQ:HOFT) declared a quarterly dividend on Wednesday, March 5th, RTT News reports. Investors of record on Monday, March 17th will be given a dividend of 0.23 per share on Monday, March 31st. This represents a $0.92 annualized dividend and a dividend yield of 7.52%.

Hooker Furnishings has raised its dividend by an average of 7.5% annually over the last three years. Hooker Furnishings has a dividend payout ratio of 55.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Hooker Furnishings to earn $1.10 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 83.6%.

Hooker Furnishings Stock Performance

NASDAQ:HOFT opened at $12.24 on Thursday. Hooker Furnishings has a twelve month low of $12.06 and a twelve month high of $24.18. The company has a current ratio of 3.16, a quick ratio of 1.76 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $131.09 million, a price-to-earnings ratio of -13.45, a PEG ratio of 0.85 and a beta of 1.25. The firm’s fifty day simple moving average is $13.19 and its 200 day simple moving average is $15.55.

Hooker Furnishings (NASDAQ:HOFT) last issued its quarterly earnings data on Thursday, December 5th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.22). Hooker Furnishings had a negative return on equity of 3.51% and a negative net margin of 2.46%. As a group, equities research analysts expect that Hooker Furnishings will post -0.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Paulette Garafalo sold 2,489 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $17.10, for a total value of $42,561.90. Following the sale, the director now owns 20,783 shares in the company, valued at approximately $355,389.30. This represents a 10.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Hooker Furnishings from a “hold” rating to a “sell” rating in a report on Friday, February 28th.

Hooker Furnishings Company Profile

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. It operates in three segments: Hooker Branded, Home Meridian, and Domestic Upholstery. The Hooker Branded segment offers design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand; and imported upholstered furniture under the Hooker Upholstery brand.