Bassett Furniture Industries (NASDAQ:BSET) Posts Quarterly Earnings Results, Misses Expectations By $0.06 EPS

Bassett Furniture Industries (NASDAQ:BSET) posted its quarterly earnings results on Wednesday. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06), FiscalAI reports. Bassett Furniture Industries had a return on equity of 3.91% and a net margin of 1.82%.The business had revenue of $80.34 million for the quarter, compared to analyst estimates of $84.38 million.

Bassett Furniture Industries Stock Performance

BSET traded up $0.04 during midday trading on Wednesday, hitting $14.19. The company had a trading volume of 40,728 shares, compared to its average volume of 23,791. Bassett Furniture Industries has a twelve month low of $13.70 and a twelve month high of $19.75. The company has a market capitalization of $122.74 million, a PE ratio of 20.27, a P/E/G ratio of 0.92 and a beta of 0.98. The firm’s 50-day simple moving average is $15.04 and its 200-day simple moving average is $15.57.

Bassett Furniture Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $0.80 dividend on an annualized basis and a yield of 5.6%. Bassett Furniture Industries’s dividend payout ratio is currently 114.29%.

Institutional Trading of Bassett Furniture Industries

Several hedge funds have recently modified their holdings of BSET. Jane Street Group LLC raised its position in Bassett Furniture Industries by 87.9% in the 1st quarter. Jane Street Group LLC now owns 21,454 shares of the company’s stock worth $327,000 after purchasing an additional 10,037 shares during the last quarter. Barclays PLC boosted its position in Bassett Furniture Industries by 21.4% in the 4th quarter. Barclays PLC now owns 22,107 shares of the company’s stock valued at $371,000 after buying an additional 3,897 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Bassett Furniture Industries by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 195,368 shares of the company’s stock valued at $3,275,000 after buying an additional 2,796 shares during the period. Bridgeway Capital Management LLC increased its stake in shares of Bassett Furniture Industries by 12.4% in the 2nd quarter. Bridgeway Capital Management LLC now owns 79,434 shares of the company’s stock valued at $1,207,000 after buying an additional 8,747 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Bassett Furniture Industries by 7.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 50,981 shares of the company’s stock worth $854,000 after acquiring an additional 3,595 shares during the last quarter. 54.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wall Street Zen downgraded Bassett Furniture Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Bassett Furniture Industries in a research report on Wednesday, January 21st. Finally, Zacks Research cut Bassett Furniture Industries from a “hold” rating to a “strong sell” rating in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

About Bassett Furniture Industries

Bassett Furniture Industries, Inc (NASDAQ: BSET), headquartered in Bassett, Virginia, is a vertically integrated manufacturer and retailer of residential home furnishings. The company designs, produces and markets a range of furniture items, including upholstered seating, wood case goods, bedroom collections, dining room sets and home décor accessories. Bassett is known for its emphasis on craftsmanship, offering both ready-to-assemble pieces and made-to-order products that cater to varying design preferences and space requirements.

Bassett’s products are sold through a dual-channel distribution network comprising company-owned Bassett Home Furnishings stores, a franchise and independent dealer network, and an e-commerce platform that provides online shopping, virtual design consultations and customization tools.