StockNews.com Upgrades Bassett Furniture Industries (NASDAQ:BSET) to Buy

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

Bassett Furniture Industries Trading Down 0.4 %

BSET opened at $14.56 on Friday. The stock has a market cap of $128.14 million, a PE ratio of -13.24, a P/E/G ratio of 1.11 and a beta of 1.69. Bassett Furniture Industries has a 1 year low of $12.10 and a 1 year high of $16.00. The stock’s 50 day simple moving average is $14.23 and its 200-day simple moving average is $14.03.

Bassett Furniture Industries (NASDAQ:BSET) last announced its quarterly earnings results on Wednesday, January 29th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.33. Bassett Furniture Industries had a negative net margin of 2.94% and a negative return on equity of 2.42%. Equities analysts forecast that Bassett Furniture Industries will post 0.8 earnings per share for the current fiscal year.

Bassett Furniture Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 5.49%. The ex-dividend date of this dividend is Friday, February 14th. Bassett Furniture Industries’s payout ratio is -72.73%.

Hedge Funds Weigh In On Bassett Furniture Industries

An institutional investor recently raised its position in Bassett Furniture Industries stock. Empowered Funds LLC boosted its stake in shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET) by 5.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,419 shares of the company’s stock after acquiring an additional 1,206 shares during the quarter. Empowered Funds LLC owned 0.29% of Bassett Furniture Industries worth $367,000 as of its most recent SEC filing. 54.40% of the stock is currently owned by institutional investors and hedge funds.

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.