Zacks: Analysts Expect Bassett Furniture Industries, Incorporated (NASDAQ: BSET) to Post Quarterly Sales of $109.87 Million

Wall Street analysts expect Bassett Furniture Industries, Incorporated (NASDAQ:BSET – Get Rating) to report revenue of $109.87 million for the current quarter, reports Zacks Investment Research. Two analysts have made earnings estimates for Bassett Furniture Industries, with the lowest sales estimate of $109.73 million and the highest estimate of $110.00 million. Bassett Furniture Industries recorded sales of $113.67 million in the same quarter last year, which would indicate a negative growth rate of 3.3% year over year. The company is due to announce its next quarterly earnings report on Monday, January 1.

According to Zacks, analysts expect Bassett Furniture Industries to report annual sales of $450.63 million for the current year, with estimates ranging from $450.50 to $450.76 million. For the next fiscal year, analysts expect the company to post sales of $464.69 million, with estimates ranging from $454.37 million to $475.00 million. Zacks Investment Research sales calculations are an average based on a survey of sell-side research companies that cover Bassett Furniture Industries.

Bassett Furniture Industries (NASDAQ:BSET – Get Rating) last reported quarterly earnings data on Monday, January 31. The company reported earnings per share of $0.52 for the quarter, beating consensus analyst estimates of $0.45 by $0.07. Bassett Furniture Industries achieved a net margin of 3.71% and a return on equity of 11.27%.

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Separately, Zacks Investment Research downgraded shares of Bassett Furniture Industries from a “hold” rating to a “sell” rating in a Tuesday, January 4, research report.

In other Bassett Furniture Industries news, Director William C. Warden, Jr. purchased 5,000 shares in a trade dated Tuesday, February 22. The shares were acquired at an average cost of $16.17 per share, for a total transaction of $80,850.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 7.20% of the shares are held by insiders of the company.

Several large investors have recently changed their stake in the company. Citigroup Inc. raised its position in shares of Bassett Furniture Industries by 119.7% in the fourth quarter. Citigroup Inc. now owns 2,221 shares of the company valued at $37,000 after purchasing an additional 1,210 shares in the last quarter. UBS Group AG increased its stake in shares of Bassett Furniture Industries by 52.8% in the third quarter. UBS Group AG now owns 2,457 shares in the company worth $45,000 after buying an additional 849 shares last quarter. BNP Paribas Arbitrage SA increased its stake in Bassett Furniture Industries by 147.3% during the third quarter. BNP Paribas Arbitrage SA now owns 2,997 shares in the company valued at $54,000 after buying an additional 1,785 shares last quarter. Barclays PLC increased its stake in Bassett Furniture Industries by 136.1% during the third quarter. Barclays PLC now owns 3,763 shares in the company valued at $69,000 after buying an additional 2,169 shares last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Bassett Furniture Industries in Q3 worth $130,000. Institutional investors and hedge funds hold 62.40% of the company’s shares.

Shares of Bassett Furniture Industries opened at $18.22 on Wednesday. The company has a market capitalization of $177.99 million, a P/E ratio of 9.96, a PEG ratio of 0.67 and a beta of 1.67. Bassett Furniture Industries has a 52 week low of $13.16 and a 52 week high of $37.00. The company’s 50-day moving average price is $17.05 and its 200-day moving average price is $17.44.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 27. Shareholders of record on Friday, May 13 will receive a dividend of $0.14 per share. The ex-dividend date is Thursday, May 12. This represents an annualized dividend of $0.56 and a dividend yield of 3.07%. Bassett Furniture Industries’ dividend payout ratio is currently 30.60%.

Bassett Furniture Industries Company Profile (Get an evaluation)

Bassett Furniture Industries, Inc. engages in the manufacturing, marketing and retailing of home furnishings. It operates through the following segments: Wholesale, Retail and Logistics Services. The Wholesale segment focuses on the design, manufacture, supply, sale and distribution of furniture products.

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