Hooker Furnishings Co. (HOFT) to Issue Quarterly Dividend of $0.23 on March 31st

Hooker Furnishings Co. (NASDAQ:HOFT) declared a quarterly dividend on Wednesday, March 5th, RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 7.40%. The ex-dividend date is Monday, March 17th.

Hooker Furnishings has increased its dividend by an average of 7.5% annually over the last three years. Hooker Furnishings has a dividend payout ratio of 55.8% meaning its dividend is sufficiently covered by earnings. Research 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

Hooker Furnishings stock opened at $12.43 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.16 and a quick ratio of 1.76. The company has a market cap of $133.13 million, a PE ratio of -13.66, a P/E/G ratio of 0.85 and a beta of 1.25. Hooker Furnishings has a 12 month low of $12.06 and a 12 month high of $24.18. The company has a fifty day moving average price of $13.16 and a two-hundred day moving average price of $15.52.

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

Analysts Set New Price Targets

Separately, StockNews.com cut Hooker Furnishings from a “hold” rating to a “sell” rating in a research note on Friday, February 28th.

Insider Buying and Selling at Hooker Furnishings

In related news, Director Paulette Garafalo sold 2,489 shares of Hooker Furnishings stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $17.10, for a total transaction of $42,561.90. Following the sale, the director now directly owns 20,783 shares in the company, valued at $355,389.30. The trade was a 10.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by company insiders.

About Hooker Furnishings

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.