Bassett Furniture Industries (NASDAQ:BSET) Posts Quarterly Earnings Results, Misses Estimates By $0.18 EPS

Bassett Furniture Industries (NASDAQ:BSET - Get Free Report) released its quarterly earnings results on Wednesday. The company reported ($0.52) EPS for the quarter, missing analysts' consensus estimates of ($0.34) by ($0.18), Yahoo Finance reports. The business had revenue of $75.62 million for the quarter, compared to analyst estimates of $78.63 million. Bassett Furniture Industries had a negative return on equity of 2.30% and a negative net margin of 4.29%. During the same period in the prior year, the business earned ($0.30) EPS.

Bassett Furniture Industries Stock Performance

Bassett Furniture Industries stock traded down $0.75 during midday trading on Thursday, reaching $13.95. The stock had a trading volume of 32,784 shares, compared to its average volume of 18,547. The firm's fifty day simple moving average is $13.65 and its 200-day simple moving average is $13.88. Bassett Furniture Industries has a 1-year low of $12.10 and a 1-year high of $17.89. The stock has a market capitalization of $123.16 million, a P/E ratio of -8.15 and a beta of 1.69.

Insider Activity at Bassett Furniture Industries

In other news, Director John R. Belk bought 3,847 shares of the company's stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $12.70 per share, with a total value of $48,856.90. Following the transaction, the director now owns 41,047 shares in the company, valued at $521,296.90. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders have bought 5,324 shares of company stock valued at $67,651. 7.10% of the stock is owned by insiders.

Bassett Furniture Industries Company Profile

Bassett Furniture Industries, Incorporated, together with its subsidiaries, manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail Company-Owned Stores, and Corporate and Other. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products, including dining, bedroom and bedding, home decorations, rugs, and outdoor furniture to a network of company-owned retail stores, licensee-owned stores, and independent retailers.