Bear of the Day: HAVERTYS (HVT)

Zacks11-14

HAVERTYS HVT is still struggling as the housing market remains in a recession. Will earnings finally turn around in 2025 for this Zacks Rank #5 (Strong Sell)? HAVERTYS is a home furnishings retailer ...

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Will earnings finally turn around in 2025 for this Zacks Rank #5 (Strong Sell)?\nHAVERTYS is a home furnishings retailer ...</p>\n\n<a href=\"https://finance.yahoo.com/news/bear-day-havertys-hvt-002900568.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bear of the Day: HAVERTYS (HVT)</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBear of the Day: HAVERTYS (HVT)\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-14 08:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/bear-day-havertys-hvt-002900568.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>HAVERTYS HVT is still struggling as the housing market remains in a recession. Will earnings finally turn around in 2025 for this Zacks Rank #5 (Strong Sell)?\nHAVERTYS is a home furnishings retailer ...</p>\n\n<a href=\"https://finance.yahoo.com/news/bear-day-havertys-hvt-002900568.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4178","symbol_name":"家庭装饰零售","start_time":0,"source_url":"https://finance.yahoo.com/news/bear-day-havertys-hvt-002900568.html","article_id":"2483087899","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/f1QBVS4K5CnZNelII137CQ--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/32d3da33fd3b9beeee841fdf141d460d"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483087899","pubTimestamp":1731544140,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"HAVERTYS HVT is still struggling as the housing market remains in a recession. Will earnings finally turn around in 2025 for this Zacks Rank #5 ?HAVERTYS is a home furnishings retailer with 127 showrooms in 17 states, specifically in the Southern and Midwestern regions. Founded in 1885, it specializes in merchandise in the middle to upper-middle price ranges.On Nov 12, 2024, HAVERTYS announced that long-time CEO and chairman of the board, Clarence H. Smith, will retire from CEO and transition to executive chairman of the board, effective Jan 1, 2025.Smith had been with the company for 50 years, and CEO for 21 years.Steven G. Burdette, currently president, will succeed Smith as CEO and will be on the board of directors.He will be only the 7th CEO in the company’s 139-year history.On Oct 30, 2024, HAVERTYS reported third quarter earnings and missed by $0.19, or 39.6%. Earnings were $0.29 versus the consensus of $0.48.Despite the tough market conditions in the furniture industry, HAVERTYS","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4178":"家庭装饰零售","HVT":"哈弗蒂家具"},"translate_title":"今日熊：哈弗蒂斯(HVT)","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HVT":1},"content_text":"HAVERTYS HVT is still struggling as the housing market remains in a recession. Will earnings finally turn around in 2025 for this Zacks Rank #5 (Strong Sell)?\nHAVERTYS is a home furnishings retailer with 127 showrooms in 17 states, specifically in the Southern and Midwestern regions. Founded in 1885, it specializes in merchandise in the middle to upper-middle price ranges.\nHAVERTYS Transitions to a New CEO\nOn Nov 12, 2024, HAVERTYS announced that long-time CEO and chairman of the board, Clarence H. Smith, will retire from CEO and transition to executive chairman of the board, effective Jan 1, 2025.\nSmith had been with the company for 50 years, and CEO for 21 years.\nSteven G. Burdette, currently president, will succeed Smith as CEO and will be on the board of directors.\nHe will be only the 7th CEO in the company’s 139-year history.\nHAVERTYS Missed on Q3 2024 Earnings\nOn Oct 30, 2024, HAVERTYS reported third quarter earnings and missed by $0.19, or 39.6%. Earnings were $0.29 versus the consensus of $0.48.\nSales fell 20.2% to $175.9 million and the all important comparable-store sales decreased 20.5%.\nHAVERTYS saw below plan sales, including in the Labor Day sale. It did begin to see an improvement in traffic as the quarter progressed.\nDesign consultants accounted for 34.5% of written business compared to 29% last year.\nThe company said the consumer remains cautious on making big-ticket postponeable purchases. The lower home sales and the lack of movement among homeowners, who often buy new furniture when they move, has also dampened demand.\nIt opened a new store in the quarter and three more locations are expected to open in the fourth quarter. It expects to end 2024 with 129 locations.\nIn good news, gross margin held up well at 60.2% compared to 60.8% last year.\nIt had no significant damage to its stores from the recent Florida and Carolina hurricanes.\nAnalysts Cut 2024 and 2025 Earnings Estimates\nUntil housing turns around, the furniture retailers will continue to struggle.\n2 earnings estimates were cut in the last 30 days for both 2024 and 2025.\nThe 2024 Zacks Consensus Estimate has fallen to $0.93 from $1.45 just 30 days ago. That’s down 71% from 2023 when the company made $3.25.\nThe 2025 Zacks Consensus Estimate has also fallen to $1.87 from $2.63 in the last 30 days. But this is earnings growth of 100.5%.\nHAVERTYS Has a Great Balance Sheet\nDespite the tough market conditions in the furniture industry, HAVERTYS continues to have a great balance sheet.\nIt had no debt outstanding as of Sep 30, 2024 and credit availability was $80 million.\nCash, cash equivalents and restricted cash equivalents as of Sep 30, 2024, was $127.4 million.\nIt paid $15.3 million in quarterly cash dividends. HAVERTYS has paid a cash dividend every year since 1935.\nThe dividend is currently yielding 5.5%.\nShares at Multi-Year Lows\nGiven the pessimism on furniture, it shouldn’t be surprising that HAVERTYS shares are at multi-year lows.\nHowever, until recently, they moved in tandem with other housing related stocks like Home Depot.\nImage Source: Zacks Investment Research\nWith earnings also declining, the shares aren’t cheap on a price-to-earnings (P/E) basis. HAVERTYS trades with a forward P/E of 24.9.\nFor investors interested in playing a rebound in housing, they should keep HAVERTYS on their watch list.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nHaverty Furniture Companies, Inc. (HVT) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483087899"}