Hooker Furnishings Co. Declares Quarterly Dividend of $0.23 (NASDAQ:HOFT)

Hooker Furnishings Co. (NASDAQ:HOFT - Get Free Report) declared a quarterly dividend on Wednesday, March 5th, RTT News reports. Shareholders of record on Monday, March 17th will be paid a dividend of 0.23 per share on Monday, March 31st. This represents a $0.92 dividend on an annualized basis and a yield of 7.42%. The ex-dividend date is Monday, March 17th.

Hooker Furnishings has raised its dividend payment by an average of 7.5% per year over the last three years. Hooker Furnishings has a dividend payout ratio of 55.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Hooker Furnishings to earn $1.10 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 83.6%.

Hooker Furnishings Trading Down 0.2 %

Hooker Furnishings stock traded down $0.03 during trading hours on Friday, reaching $12.40. The company had a trading volume of 41,006 shares, compared to its average volume of 35,820. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.16 and a quick ratio of 1.76. Hooker Furnishings has a 12-month low of $12.06 and a 12-month high of $24.18. The firm has a market cap of $132.80 million, a price-to-earnings ratio of -13.63, a P/E/G ratio of 0.85 and a beta of 1.16. The company has a 50-day moving average price of $13.12 and a 200 day moving average price of $15.50.

Hooker Furnishings (NASDAQ:HOFT - Get Free Report) last issued its quarterly earnings results on Thursday, December 5th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.22). Hooker Furnishings had a negative return on equity of 3.51% and a negative net margin of 2.46%. Equities analysts forecast that Hooker Furnishings will post -0.44 earnings per share for the current year.

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Insiders Place Their Bets

In other Hooker Furnishings news, Director Paulette Garafalo sold 2,489 shares of the company's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $17.10, for a total value of $42,561.90. Following the completion of the sale, the director now owns 20,783 shares in the company, valued at $355,389.30. This represents a 10.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.70% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Hooker Furnishings from a "hold" rating to a "sell" rating in a report on Friday, February 28th.

Hooker Furnishings Company Profile

Hooker Furnishings Corporation designs, manufactures, imports, and markets residential household, hospitality, and contract furniture. It operates in three segments: Hooker Branded, Home Meridian, and Domestic Upholstery. The Hooker Branded segment offers design categories, including home entertainment, home office, accent, dining, and bedroom furniture under the Hooker Furniture brand; and imported upholstered furniture under the Hooker Upholstery brand.