Haverty Furniture Companies, Inc. to Issue Quarterly Dividend of $0.15 (NYSE:HVT)
Haverty Furniture Companies, Inc. (NYSE:HVT) declared a quarterly dividend on Tuesday, May 19th, Zacks reports. Investors of record on Thursday, June 4th will be paid a dividend of 0.15 per share on Friday, June 19th. This represents a $0.60 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend is Wednesday, June 3rd.
Haverty Furniture Companies has increased its dividend by an average of 3.6% per year over the last three years and has increased its dividend every year for the last 4 years. Haverty Furniture Companies has a payout ratio of 111.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Haverty Furniture Companies to earn $0.76 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 78.9%.
Shares of NYSE:HVT opened at $16.63 on Tuesday. The firm has a market cap of $325.22 million, a PE ratio of 16.63 and a beta of 1.44. The firm’s fifty day moving average is $13.96 and its 200-day moving average is $17.13. Haverty Furniture Companies has a 52 week low of $9.81 and a 52 week high of $21.43.
HVT has been the topic of several recent analyst reports. Sidoti boosted their target price on shares of Haverty Furniture Companies from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Monday, May 18th. TheStreet lowered shares of Haverty Furniture Companies from a “b-” rating to a “c+” rating in a report on Tuesday, February 18th. ValuEngine downgraded shares of Haverty Furniture Companies from a “buy” rating to a “hold” rating in a research note on Thursday, May 21st. Finally, Zacks Investment Research raised shares of Haverty Furniture Companies from a “sell” rating to a “hold” rating in a research note on Wednesday, April 1st.
About Haverty Furniture Companies
Haverty Furniture Companies, Inc operates as a specialty retailer of residential furniture and accessories in the United States. The company offers furniture merchandise under the Havertys brand name. It also provides custom upholstery products, as well as mattress product lines under the Sealy, Tempur-Pedic, Serta, Stearns & Foster, and Beautyrest Black names.
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