Ethan Allen Interiors Inc. (NYSE:ETD) Announces Dividend Increase – $0.39 Per Share

Ethan Allen Interiors Inc. (NYSE:ETD) declared a quarterly dividend on Monday, April 22nd, Wall Street Journal reports. Stockholders of record on Tuesday, May 7th will be paid a dividend of 0.39 per share on Thursday, May 23rd. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date is Monday, May 6th. This is an increase from Ethan Allen Interiors’s previous quarterly dividend of $0.36.

Ethan Allen Interiors has raised its dividend payment by an average of 16.7% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Ethan Allen Interiors has a payout ratio of 47.5% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ethan Allen Interiors to earn $2.95 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 48.8%.

Ethan Allen Interiors Stock Performance

ETD stock opened at $34.03 on Wednesday. The stock has a market capitalization of $864.36 million, a PE ratio of 10.91 and a beta of 1.22. The company has a fifty day moving average of $32.55 and a 200-day moving average of $30.31. Ethan Allen Interiors has a one year low of $24.76 and a one year high of $36.19.

Ethan Allen Interiors (NYSE:ETD) last released its earnings results on Wednesday, January 24th. The company reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.09). The business had revenue of $167.28 million for the quarter, compared to analyst estimates of $179.20 million. Ethan Allen Interiors had a return on equity of 17.19% and a net margin of 11.37%. The business’s revenue for the quarter was down 17.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.10 EPS. Equities analysts forecast that Ethan Allen Interiors will post 2.7 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Telsey Advisory Group restated a “market perform” rating and issued a $30.00 price target on shares of Ethan Allen Interiors in a research note on Friday, April 19th.

Ethan Allen Interiors Company Profile

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.