Ethan Allen Interiors (NYSE:ETD) Shares Gap Down on Disappointing Earnings

Ethan Allen Interiors Inc. (NYSE:ETD)’s stock price gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $33.41, but opened at $31.49. Ethan Allen Interiors shares last traded at $29.05, with a volume of 216,934 shares trading hands.

The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.18). The company had revenue of $146.42 million for the quarter, compared to analyst estimates of $168.15 million. Ethan Allen Interiors had a net margin of 11.37% and a return on equity of 17.19%. During the same period in the prior year, the company posted $0.86 EPS. The firm’s quarterly revenue was down 21.4% on a year-over-year basis.

Ethan Allen Interiors Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Tuesday, May 7th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 5.37%. The ex-dividend date is Monday, May 6th. This is a positive change from Ethan Allen Interiors’s previous quarterly dividend of $0.36. Ethan Allen Interiors’s dividend payout ratio is 46.15%.

Analyst Ratings Changes

Separately, Telsey Advisory Group reissued a “market perform” rating and issued a $30.00 price target on shares of Ethan Allen Interiors in a research report on Thursday.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. AJOVista LLC acquired a new stake in shares of Ethan Allen Interiors during the fourth quarter worth approximately $41,000. PNC Financial Services Group Inc. increased its holdings in shares of Ethan Allen Interiors by 171.8% during the third quarter. PNC Financial Services Group Inc. now owns 4,563 shares of the company’s stock worth $136,000 after buying an additional 2,884 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of Ethan Allen Interiors during the third quarter worth approximately $203,000. Arizona State Retirement System acquired a new stake in shares of Ethan Allen Interiors during the fourth quarter worth approximately $204,000. Finally, Evergreen Capital Management LLC acquired a new stake in shares of Ethan Allen Interiors during the third quarter worth approximately $213,000. Institutional investors and hedge funds own 83.80% of the company’s stock.

Ethan Allen Interiors Stock Down 13.0 %

The company has a market cap of $738.12 million, a price-to-earnings ratio of 9.31 and a beta of 1.22. The company’s fifty day moving average price is $32.55 and its two-hundred day moving average price is $30.32.

About Ethan Allen Interiors

Ethan Allen Interiors Inc operates as an interior design company, and manufacturer and retailer of home furnishings in the United States, Mexico, Honduras, and Canada. The company operates in two segments, Wholesale and Retail. Its products include case goods items, such as beds, dressers, armoires, tables, chairs, buffets, entertainment units, home office furniture, and wooden accents; upholstery comprising fabric-covered items, such as sleepers, recliners and other motion furniture, chairs, ottomans, custom pillows, sofas, loveseats, cut fabrics, and leather; and home accent items consisting of window treatments and drapery hardware, wall decors, florals, lighting, clocks, mattresses, bedspreads, throws, pillows, decorative accents, area rugs, wall coverings, and home and garden furnishings.