Analysts Reduce Profitability Estimates For Hooker

Furniture World Magazine

Analysts at BB&T Capital Markets decided to maintain their "hold" rating on Hooker Furniture Corp (HOFT.NAS), while reducing their estimates for the company. In a research note published this morning, the analysts mention that the anticipated inventory work downs at the company are expected to result in weak sales and exert pressure on margins going forward. The operating margin estimates for 4Q06 and 2007 have been reduced from 5.8% to 4.3% and from 8.7% to 6.6%, respectively. The EPS estimates for FY06 and FY07 have been reduced from $1.31 to $1.23 and from $1.60 to $1.22, respectively.