Haverty Furniture Companies, Inc. (NYSE:HVT) Announces Quarterly Dividend of $0.32

Haverty Furniture Companies, Inc. (NYSE:HVT) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Investors of record on Friday, May 24th will be given a dividend of 0.32 per share on Friday, June 14th. This represents a $1.28 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date is Thursday, May 23rd. This is an increase from Haverty Furniture Companies’s previous quarterly dividend of $0.30.

Haverty Furniture Companies has raised its dividend by an average of 15.3% per year over the last three years and has increased its dividend every year for the last 3 years. Haverty Furniture Companies has a payout ratio of 34.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Haverty Furniture Companies to earn $3.49 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 34.4%.

Haverty Furniture Companies Price Performance

Shares of HVT stock traded down $2.49 during trading hours on Thursday, hitting $28.52. The stock had a trading volume of 272,952 shares, compared to its average volume of 102,220. The stock’s 50 day moving average is $32.25 and its 200 day moving average is $32.51. The firm has a market capitalization of $460.60 million, a PE ratio of 8.37, a PEG ratio of 1.10 and a beta of 1.54. Haverty Furniture Companies has a twelve month low of $25.05 and a twelve month high of $37.05.

Haverty Furniture Companies (NYSE:HVT) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.06). The business had revenue of $210.74 million for the quarter, compared to analyst estimates of $230.06 million. Haverty Furniture Companies had a return on equity of 18.36% and a net margin of 6.53%. As a group, equities analysts predict that Haverty Furniture Companies will post 2.34 earnings per share for the current year.

Analysts Set New Price Targets

HVT has been the topic of a number of research reports. Benchmark reissued a “buy” rating and set a $45.00 price target on shares of Haverty Furniture Companies in a report on Thursday. StockNews.com downgraded Haverty Furniture Companies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 6th.

About Haverty Furniture Companies

Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and accessories in the United States. The company offers furniture merchandise under the Havertys brand name. It also provides custom upholstery products and eclectic looks; and mattress product lines under the Tempur-Pedic, Serta, Sealy, and Stearns and Foster names.