Bassett Furniture Industries (NASDAQ:BSET) Issues Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Bassett Furniture Industries (NASDAQ:BSET) announced its earnings results on Wednesday. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.11, Zacks reports. Bassett Furniture Industries had a return on equity of 3.56% and a net margin of 1.65%.

Bassett Furniture Industries Stock Down 3.2%

Shares of Bassett Furniture Industries stock traded down $0.58 on Wednesday, reaching $17.47. 59,527 shares of the stock were exchanged, compared to its average volume of 37,737. Bassett Furniture Industries has a twelve month low of $13.17 and a twelve month high of $22.26. The firm has a market capitalization of $151.29 million, a price-to-earnings ratio of 27.30, a PEG ratio of 1.28 and a beta of 0.77. The business has a 50 day moving average price of $18.82 and a two-hundred day moving average price of $16.80.

Bassett Furniture Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Friday, August 14th. Bassett Furniture Industries’s dividend payout ratio (DPR) is presently 125.00%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BSET. Zacks Research downgraded Bassett Furniture Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, September 7th. Weiss Ratings raised shares of Bassett Furniture Industries from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, July 14th. Finally, Wall Street Zen upgraded shares of Bassett Furniture Industries from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Bassett Furniture Industries presently has an average rating of “Moderate Buy”.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Incorporated is a home furnishings company headquartered in Bassett, Virginia. Founded in 1902, the company built its heritage in wooden furniture and has expanded into a broader range of residential furnishings.

Bassett designs, manufactures, sources and sells products including upholstered furniture, bedroom and dining furniture, occasional tables, home office furnishings, mattresses, rugs, lighting and decorative accessories. Its offerings are marketed under the Bassett brand, with an emphasis on coordinated room collections, customization and design services.

The company serves consumers primarily in the United States through company-owned and licensed Bassett Home Furnishings stores, its website and other retail channels.