Hooker Furnishings (NASDAQ: HOFT), a leading furniture company, is scheduled to release its latest quarterly earnings report on Thursday, December 7, 2023. Investors are eager to learn about the company’s financial performance and future prospects.
Analysts predict that Hooker Furnishings will report earnings per share (EPS) of $0.25. Investors will be hoping for the company to not only meet or exceed this estimate but also provide positive guidance for the next quarter, indicating potential growth.
It’s important to note that the price of a stock is not solely determined by an earnings beat or miss but also by the guidance provided by the company. Positive guidance can have a significant impact on the stock price, even if the earnings fall short of expectations.
In the previous quarter, Hooker Furnishings missed EPS by $0.19, resulting in a 0.0% drop in the share price the following day. This highlights the importance of both meeting earnings estimates and providing optimistic guidance to satisfy investors.
To better understand the company’s historical earnings performance, let’s take a look at the past four quarters and the resulting price changes:
– Q2 2024: EPS Estimate – $0.26, EPS Actual – $0.07, Price Change – (-16.96%)
– Q1 2024: EPS Estimate – $0.11, EPS Actual – $0.13, Price Change – (+3.34%)
– Q4 2023: EPS Estimate – $0.07, EPS Actual – (-$1.60), Price Change – (+1.85%)
– Q3 2023: EPS Estimate – $0.39, EPS Actual – $0.42, Price Change – (-0.33%)
These figures demonstrate the impact of earnings surprises on the stock price. While there is no clear pattern, the market’s reaction to earnings announcements can be unpredictable.
Currently, Hooker Furnishings’ shares are trading at $20.31 as of December 5. Over the past 52 weeks, the stock has experienced a 15.12% increase. These positive returns suggest that long-term shareholders are optimistic about the company’s performance leading up to this earnings release.
Investors interested in tracking all earnings releases for Hooker Furnishings can visit the company’s earnings calendar on the Benzinga website.
Please note that this article was generated by Benzinga’s automated content engine and reviewed by an editor.
