Bassett Furniture Industries (NASDAQ:BSET) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Bassett Furniture Industries (NASDAQ:BSET) from a buy rating to a hold rating in a report released on Friday morning.

Bassett Furniture Industries Stock Performance

Shares of BSET opened at $14.00 on Friday. The firm’s 50 day moving average price is $14.54 and its two-hundred day moving average price is $14.03. Bassett Furniture Industries has a twelve month low of $12.10 and a twelve month high of $16.85. The firm has a market cap of $123.21 million, a P/E ratio of -7.18, a PEG ratio of 1.07 and a beta of 1.69.

Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings data on Wednesday, October 9th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.18). 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 3.47% and a negative net margin of 5.00%. During the same quarter in the prior year, the company earned ($0.30) earnings per share. On average, sell-side analysts anticipate that Bassett Furniture Industries will post -0.77 earnings per share 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 given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 5.71%. The ex-dividend date was Friday, November 15th. Bassett Furniture Industries’s payout ratio is -41.03%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BSET. Empowered Funds LLC raised its holdings in shares of Bassett Furniture Industries by 5.0% during the 3rd quarter. Empowered Funds LLC now owns 25,419 shares of the company’s stock worth $367,000 after buying an additional 1,206 shares in the last quarter. Inspire Advisors LLC grew its position in Bassett Furniture Industries by 119.5% in the second quarter. Inspire Advisors LLC now owns 26,055 shares of the company’s stock valued at $370,000 after acquiring an additional 14,183 shares during the last quarter. Finally, Barclays PLC raised its stake in Bassett Furniture Industries by 51.9% during the third quarter. Barclays PLC now owns 10,124 shares of the company’s stock worth $146,000 after acquiring an additional 3,459 shares in the last quarter. Institutional investors own 54.40% of the company’s stock.

About Bassett Furniture Industries

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.