Haverty Furniture (HVT) Stock Sinks As Market Gains: What You Should Know
Haverty Furniture (HVT) closed at $36.12 in the latest trading session, marking a -0.5% move from the prior day.
In the latest trading session, Haverty Furniture (HVT) closed at $36.12, marking a -0.5% move from the previous day. This change lagged the S&P 500's daily gain of 0.28%.
Prior to today's trading, shares of the residential furniture and accessories retailer had gained 1.09% over the past month. This has lagged the Retail-Wholesale sector's gain of 1.55% and the S&P 500's gain of 3.07% in that time.
HVT will be looking to display strength as it nears its next earnings release. On that day, HVT is projected to report earnings of $1.30 per share, which would represent year-over-year growth of 34.02%. Meanwhile, our latest consensus estimate is calling for revenue of $261 million, up 19.99% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.95 per share and revenue of $1.01 billion. These totals would mark changes of +163.3% and +35.38%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for HVT. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. HVT is currently sporting a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that HVT has a Forward P/E ratio of 7.33 right now. This valuation marks a discount compared to its industry's average Forward P/E of 15.56.
The Retail - Home Furnishings industry is part of the Retail-Wholesale sector. This group has a Zacks Industry Rank of 61, putting it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Haverty Furniture Companies, Inc. (HVT): Free Stock Analysis Report
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