According to Zacks, “Bassett Furniture Industries, Inc. is a leading manufacturer and marketer of high quality, mid-priced home furnishings. With over one hundred and thirty Bassett Furniture Direct stores, Bassett has leveraged its brand name in furniture with a network of licensed and Company-owned stores that focus on providing consumers with a friendly and professional environment for buying furniture and accessories. The Company continues to sell its products to other retailers, in addition to the Company’s dedicated retail store program. Bassett’s retail strategy promotes affordable custom-built furniture that is ready for delivery in the home within thirty days. The stores also feature the latest on-trend furniture styles, more than one thousand upholstery fabrics, free in-home design visits, and coordinated decorating accessories. “
Bassett Furniture Industries (NASDAQ:BSET) opened at 25.29 on Monday. Bassett Furniture Industries has a 1-year low of $22.42 and a 1-year high of $33.68. The firm has a market capitalization of $273.16 million, a P/E ratio of 16.75 and a beta of 1.03. The stock has a 50 day moving average of $24.68 and a 200-day moving average of $27.31.
Bassett Furniture Industries (NASDAQ:BSET) last issued its earnings results on Thursday, September 29th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The company had revenue of $104.70 million for the quarter. Bassett Furniture Industries had a return on equity of 9.42% and a net margin of 3.80%. The firm’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 earnings per share. On average, equities research analysts anticipate that Bassett Furniture Industries will post $1.42 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 11th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.58%. Bassett Furniture Industries’s dividend payout ratio is presently 26.49%.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can bought a new position in shares of Bassett Furniture Industries during the second quarter valued at about $136,000. Landscape Capital Management L.L.C. bought a new position in shares of Bassett Furniture Industries during the second quarter valued at about $218,000. Deere & Co. bought a new position in shares of Bassett Furniture Industries during the second quarter valued at about $237,000. Smith Asset Management Group LP raised its position in shares of Bassett Furniture Industries by 69.8% in the second quarter. Smith Asset Management Group LP now owns 9,970 shares of the company’s stock valued at $239,000 after buying an additional 4,100 shares in the last quarter. Finally, KBC Group NV raised its position in shares of Bassett Furniture Industries by 16.5% in the second quarter. KBC Group NV now owns 10,945 shares of the company’s stock valued at $262,000 after buying an additional 1,553 shares in the last quarter. 71.64% of the stock is currently owned by institutional investors and hedge funds.
About Bassett Furniture Industries
Bassett Furniture Industries, Incorporated is a manufacturer, importer and retailer of home furnishings. The Company’s segments include Wholesale, Retail – Company-owned stores and Logistical services. Its wholesale home furnishings segment is involved in the design, manufacture, sourcing, sale and distribution of furniture products to a network of Bassett stores (licensee-owned stores and Company-owned stores) and independent furniture retailers.
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