Ethan Allen Interiors (NYSE:ETD) Shares Gap Down Following Weak Earnings

Ethan Allen Interiors Inc. (NYSE:ETD) shares gapped down before the market opened on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $33.41, but opened at $31.49. Ethan Allen Interiors shares last traded at $29.05, with a volume of 216,934 shares trading hands.

The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.18). Ethan Allen Interiors had a return on equity of 14.99% and a net margin of 10.63%. The business had revenue of $146.42 million for the quarter, compared to the consensus estimate of $168.15 million. During the same quarter in the prior year, the business earned $0.86 EPS. The firm’s revenue for the quarter was down 21.4% on a year-over-year basis.

Ethan Allen Interiors Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Tuesday, May 7th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Monday, May 6th. This is a boost from Ethan Allen Interiors’s previous quarterly dividend of $0.36. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.41%. Ethan Allen Interiors’s dividend payout ratio (DPR) is presently 52.36%.

Analyst Ratings Changes

Separately, Telsey Advisory Group reaffirmed a “market perform” rating and set a $30.00 price objective on shares of Ethan Allen Interiors in a research note on Thursday.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. AJOVista LLC bought a new stake in shares of Ethan Allen Interiors during the fourth quarter worth $41,000. PNC Financial Services Group Inc. raised its holdings in Ethan Allen Interiors by 171.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,563 shares of the company’s stock worth $136,000 after purchasing an additional 2,884 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new position in Ethan Allen Interiors during the 3rd quarter valued at about $203,000. Arizona State Retirement System bought a new position in shares of Ethan Allen Interiors in the 4th quarter valued at about $204,000. Finally, Evergreen Capital Management LLC acquired a new stake in shares of Ethan Allen Interiors during the 3rd quarter worth approximately $213,000. Institutional investors and hedge funds own 83.80% of the company’s stock.

Ethan Allen Interiors Stock Down 0.8 %

The company’s fifty day moving average is $32.49 and its two-hundred day moving average is $30.31. The firm has a market capitalization of $732.03 million, a price-to-earnings ratio of 10.48 and a beta of 1.22.

About Ethan Allen Interiors

Ethan Allen Interiors Inc operates as an interior design company, and manufacturer and retailer of home furnishings in the United States, Mexico, Honduras, and Canada. The company operates in two segments, Wholesale and Retail. Its products include case goods items, such as beds, dressers, armoires, tables, chairs, buffets, entertainment units, home office furniture, and wooden accents; upholstery comprising fabric-covered items, such as sleepers, recliners and other motion furniture, chairs, ottomans, custom pillows, sofas, loveseats, cut fabrics, and leather; and home accent items consisting of window treatments and drapery hardware, wall decors, florals, lighting, clocks, mattresses, bedspreads, throws, pillows, decorative accents, area rugs, wall coverings, and home and garden furnishings.