Flexsteel Industries (NASDAQ:FLXS) Posts Quarterly Earnings Results, Beats Expectations By $0.26 EPS
by Renee Jackson · The Cerbat GemFlexsteel Industries (NASDAQ:FLXS – Get Free Report) released its quarterly earnings data on Monday. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.26, Zacks reports. Flexsteel Industries had a return on equity of 16.67% and a net margin of 4.58%.
Flexsteel Industries Stock Performance
Shares of FLXS stock traded down $0.39 during mid-day trading on Monday, hitting $46.25. 76,848 shares of the stock traded hands, compared to its average volume of 38,815. Flexsteel Industries has a twelve month low of $29.38 and a twelve month high of $59.95. The firm has a market cap of $247.44 million, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 0.99 and a beta of 0.52. The company’s 50-day simple moving average is $49.04 and its 200-day simple moving average is $43.01.
Flexsteel Industries Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, April 9th. Stockholders of record on Monday, March 30th were given a dividend of $0.20 per share. The ex-dividend date was Monday, March 30th. This represents a $0.80 annualized dividend and a dividend yield of 1.7%. Flexsteel Industries’s dividend payout ratio (DPR) is 21.80%.
Analyst Upgrades and Downgrades
FLXS has been the topic of several analyst reports. Wall Street Zen upgraded Flexsteel Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. Weiss Ratings restated a “hold (c+)” rating on shares of Flexsteel Industries in a research report on Friday, March 27th. Finally, Zacks Research cut Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, Flexsteel Industries presently has a consensus rating of “Hold”.
Read Our Latest Analysis on Flexsteel Industries
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of the business. Deutsche Bank AG grew its holdings in shares of Flexsteel Industries by 11.1% during the fourth quarter. Deutsche Bank AG now owns 3,024 shares of the company’s stock valued at $119,000 after buying an additional 303 shares in the last quarter. Barclays PLC grew its holdings in shares of Flexsteel Industries by 6.4% during the fourth quarter. Barclays PLC now owns 5,527 shares of the company’s stock valued at $218,000 after buying an additional 333 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Flexsteel Industries by 24.7% during the third quarter. Russell Investments Group Ltd. now owns 1,991 shares of the company’s stock valued at $92,000 after buying an additional 395 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Flexsteel Industries by 4.1% during the second quarter. First Trust Advisors LP now owns 11,745 shares of the company’s stock valued at $423,000 after buying an additional 467 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Flexsteel Industries by 149.6% during the third quarter. BNP Paribas Financial Markets now owns 971 shares of the company’s stock valued at $45,000 after buying an additional 582 shares in the last quarter. Hedge funds and other institutional investors own 36.27% of the company’s stock.
About Flexsteel Industries
Flexsteel Industries, Inc (NASDAQ: FLXS) is a U.S.-based furniture manufacturer specializing in the design, production, and marketing of residential upholstered furniture and wood casegoods. The company operates through two primary segments: Upholstery, which encompasses seating products such as sofas, loveseats, chairs, recliners, and sectionals; and Casegoods, which includes accent and occasional tables, cabinets, bookcases, and other wood-based furnishings. Flexsteel sells its products through a network of independent retailers, furniture stores, and distributors across North America.
Flexsteel’s upholstery segment is distinguished by its patented Blue Steel Spring® technology, which offers enhanced longevity and comfort by replacing conventional webbing and springs with a welded steel seat suspension.