Bassett Furniture Industries (NASDAQ:BSET) Releases Quarterly Earnings Results, Beats Expectations By $0.19 EPS

Bassett Furniture Industries (NASDAQ:BSET) announced its quarterly earnings results on Wednesday. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.19, Zacks reports. Bassett Furniture Industries had a negative net margin of 2.94% and a negative return on equity of 2.44%. During the same period in the previous year, the firm posted ($0.14) earnings per share.

Bassett Furniture Industries Price Performance

NASDAQ BSET traded up $0.46 on Wednesday, hitting $15.62. The stock had a trading volume of 30,482 shares, compared to its average volume of 17,215. The business’s fifty day moving average price is $15.09 and its 200 day moving average price is $14.62. The stock has a market cap of $137.27 million, a price-to-earnings ratio of -14.20, a price-to-earnings-growth ratio of 1.29 and a beta of 1.35. Bassett Furniture Industries has a 52-week low of $12.11 and a 52-week high of $16.85.

Bassett Furniture Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.80 dividend on an annualized basis and a yield of 5.12%. Bassett Furniture Industries’s payout ratio is -72.73%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Bassett Furniture Industries from a “hold” rating to a “buy” rating in a report on Friday, January 31st.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Incorporated, together with its subsidiaries, manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail Company-Owned Stores, and Corporate and Other. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products, including dining, bedroom and bedding, home decorations, rugs, and outdoor furniture to a network of company-owned retail stores, licensee-owned stores, and independent retailers.