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In a challenging year for retailers, Haverty Furniture Companies Inc . (NYSE:HVT) stock has touched a 52-week low, dipping to $21.01, though the company maintains a robust 5.91% dividend yield and has consistently paid dividends for 51 consecutive years. The furniture retailer, known for its wide range of home furnishings, has faced significant headwinds in the market, reflecting a broader trend in the sector. Over the past year, Haverty’s stock has seen a substantial decline, with a 1-year change showing a decrease of -31.79%. Despite these challenges, the company maintains impressive gross profit margins of 60.74% and a healthy current ratio of 1.82. According to InvestingPro analysis, HVT appears slightly undervalued at current levels, with analysts setting price targets between $25 and $35. InvestingPro has identified 10 additional investment tips for HVT, available to subscribers along with comprehensive financial analysis and Fair Value calculations.
In other recent news, Haverty Furniture Companies Inc. reported its fourth-quarter 2024 financial results, surpassing earnings expectations with an EPS of $0.49, significantly higher than the projected $0.23. Despite this earnings beat, the company experienced a slight revenue shortfall, reporting $184.4 million against an expected $185.39 million, marking a 12.5% decline year-over-year. Havertys maintained a strong gross margin of 61.9% for the quarter and ended the year with $120 million in cash and no funded debt. The company plans to expand its store count in 2025, with five new openings and a focus on the Houston market. In executive news, Havertys appointed Brendan McGill as the new Senior Vice President, General Counsel, effective April 1, 2025, succeeding the retiring Janet E. Taylor. McGill brings extensive legal and corporate governance experience to the role, having held senior positions at companies like Greystar Real Estate Partners and Sylvan Road Capital. The executive transition aligns with Havertys’ strategy to sustain its market position and pursue growth opportunities. These developments reflect the company’s ongoing efforts to navigate challenging market conditions while positioning itself for future growth.
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