Curated News
By: NewsRamp Editorial Staff
December 29, 2024
Stonegate Capital Partners Updates Coverage on Hooker Furniture Corporation (NASDAQ: HOFT)
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- HOFT reported slightly above consensus revenues despite a 10.7% decrease from 3Q24, positioning for future growth.
- HOFT's revenues, operating income, and adj EPS were $104.4M, ($7.3)M, and ($0.39), respectively, compared to estimates.
- HOFT's strategic partnership with Margaritaville aims to boost revenues, aligning with growth initiatives for a better future.
- Stonegate Capital Partners updates coverage on HOFT, highlighting improved GPM and a new global licensing agreement with Margaritaville.
Impact - Why it Matters
This news matters as it highlights HOFT's financial performance, strategic initiatives, and market outlook. Investors can gain insights into HOFT's revenue, operating income, and adj EPS, as well as the company's efforts to reduce costs and drive growth through a new licensing agreement. The update also provides valuable information on HOFT's dividend policy, liquidity position, backlog trends, and valuation analysis.
Summary
Stonegate Capital Partners updates their coverage on Hooker Furniture Corporation (NASDAQ: HOFT), reporting revenue, operating income, and adj EPS. Despite a decrease in consolidated revenues, HOFT's GPM increased q/q. The company's focus on reducing fixed costs and a new global licensing agreement with Margaritaville are expected to drive future growth.
HOFT remains committed to consistent dividend payouts and has strengthened liquidity by reducing inventory levels. Despite a decrease in backlog from the previous quarter, year-to-date backlogs are up, indicating market demand. Valuation models suggest a positive outlook for HOFT, with one of the highest dividend yields in its comp set.
Stonegate Capital Partners is a leading advisory firm providing investor relations and equity research services for public companies.
Source Statement
This curated news summary relied on this press release disributed by Reportable. Read the source press release here, Stonegate Capital Partners Updates Coverage on Hooker Furniture Corporation (NASDAQ: HOFT)
