Flexsteel Industries (NASDAQ:FLXS – Get Free Report) released its earnings results on Monday. The company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.01, Zacks reports. The firm had revenue of $113.97 million for the quarter, compared to analysts’ expectations of $112.70 million. Flexsteel Industries had a return on equity of 16.11% and a net margin of 7.21%.
Flexsteel Industries Stock Down 1.9%
Shares of NASDAQ:FLXS opened at $82.55 on Tuesday. The firm has a market cap of $442.47 million, a P/E ratio of 16.97, a P/E/G ratio of 1.33 and a beta of 0.51. Flexsteel Industries has a 12-month low of $34.00 and a 12-month high of $90.64. The business has a fifty day simple moving average of $83.11 and a 200 day simple moving average of $62.83.
Flexsteel Industries Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, October 12th. Investors of record on Wednesday, September 30th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, September 30th. Flexsteel Industries’s dividend payout ratio (DPR) is currently 16.10%.
Insider Buying and Selling
In related news, Director William S. Creekmuir sold 1,000 shares of Flexsteel Industries stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $81.03, for a total value of $81,030.00. Following the transaction, the director directly owned 19,226 shares of the company’s stock, valued at $1,557,882.78. The trade was a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael McClaflin sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $79.57, for a total value of $198,925.00. Following the completion of the sale, the insider owned 36,026 shares in the company, valued at $2,866,588.82. The trade was a 6.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 28,914 shares of company stock worth $2,350,392. Corporate insiders own 11.20% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts recently issued reports on FLXS shares. Freedom Broker cut shares of Flexsteel Industries from a “buy” rating to a “hold” rating and upped their price objective for the stock from $72.00 to $80.00 in a research report on Tuesday, August 18th. Weiss Ratings raised shares of Flexsteel Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Zacks Research raised shares of Flexsteel Industries from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 1st. Finally, Freedom Capital downgraded shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $80.00.
Check Out Our Latest Stock Analysis on FLXS
Flexsteel Industries Company Profile
Flexsteel Industries, Inc is a furniture company that designs, manufactures, imports and markets residential furniture. Based in Dubuque, Iowa, the company serves the U.S. home furnishings market through retail furniture stores, national and regional chains, interior designers and online channels.
The company’s product offerings include upholstered seating such as sofas, sectionals, chairs and recliners, along with motion furniture, dining and bedroom furniture, occasional tables and home office products.
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