Bassett Furniture Industries (NASDAQ:BSET) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Bassett Furniture Industries (NASDAQ:BSET) from a hold rating to a buy rating in a research note issued to investors on Thursday.

Bassett Furniture Industries Price Performance

Shares of NASDAQ:BSET opened at $14.49 on Thursday. The business’s fifty day moving average price is $14.57 and its two-hundred day moving average price is $14.06. Bassett Furniture Industries has a fifty-two week low of $12.10 and a fifty-two week high of $16.92. The stock has a market capitalization of $127.51 million, a price-to-earnings ratio of -7.43, a price-to-earnings-growth ratio of 1.07 and a beta of 1.69.

Bassett Furniture Industries (NASDAQ:BSET) last posted its earnings results on Wednesday, October 9th. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.18). Bassett Furniture Industries had a negative return on equity of 3.47% and a negative net margin of 5.00%. The firm had revenue of $75.62 million during the quarter, compared to the consensus estimate of $78.63 million. During the same period in the previous year, the company posted ($0.30) EPS. Research analysts expect that Bassett Furniture Industries will post -0.77 EPS for the current fiscal year.

Bassett Furniture Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date was Friday, November 15th. Bassett Furniture Industries’s dividend payout ratio (DPR) is currently -41.03%.

Institutional Investors Weigh In On Bassett Furniture Industries

Large investors have recently bought and sold shares of the business. Barclays PLC increased its holdings in shares of Bassett Furniture Industries by 51.9% in the third quarter. Barclays PLC now owns 10,124 shares of the company’s stock valued at $146,000 after purchasing an additional 3,459 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Bassett Furniture Industries by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 25,419 shares of the company’s stock valued at $367,000 after buying an additional 1,206 shares during the period. Finally, Inspire Advisors LLC raised its position in shares of Bassett Furniture Industries by 119.5% during the second quarter. Inspire Advisors LLC now owns 26,055 shares of the company’s stock worth $370,000 after acquiring an additional 14,183 shares during the last quarter. 54.40% of the stock is currently owned by institutional investors.

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.