HOFT - Hooker Furniture: Weak Quarter On Short-Term Issues Backlog Up +300% Dividend Raised To 3.5% Yield
- Hooker had a poor quarter, with revenues and EPS missing expectations.
- Supply chain headwinds impacting short-term, record +300% backlogs positive intermediate-term.
- Still undervalued with a P/E of 6.8x, with 30% net cash.
- Opened a new 800,000 square foot facility in Savannah that will help fulfill order growth.
- Dividend increased 11%, 3.5% dividend yield now.
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Hooker Furniture: Weak Quarter On Short-Term Issues, Backlog Up +300%, Dividend Raised To 3.5% Yield