Haverty Furniture (HVT) Outpaces Stock Market Gains: What You Should Know
Haverty Furniture (HVT) closed the most recent trading day at $34.22, moving +1.36% from the previous trading session. This change outpaced the S&P 500's 0.85% gain on the day.
Coming into today, shares of the residential furniture and accessories retailer had lost 4.71% in the past month. In that same time, the Retail-Wholesale sector lost 0.32%, while the S&P 500 lost 0.37%.
Wall Street will be looking for positivity from HVT as it approaches its next earnings report date. 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, the Zacks Consensus Estimate for revenue is projecting net sales of $261 million, up 19.99% from the year-ago period.
HVT's full-year Zacks Consensus Estimates are calling for earnings of $4.95 per share and revenue of $1.01 billion. These results would represent year-over-year changes of +163.3% and +35.38%, respectively.
It is also important to note the recent changes to analyst estimates for HVT. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. HVT currently has a Zacks Rank of #2 (Buy).
Investors should also note HVT's current valuation metrics, including its Forward P/E ratio of 6.82. This represents a discount compared to its industry's average Forward P/E of 15.66.
The Retail - Home Furnishings industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 40, which puts it in the top 16% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Haverty Furniture Companies, Inc. (HVT) : Free Stock Analysis Report
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