La-Z-Boy (NYSE:LZB) Issues Quarterly Earnings Results

La-Z-Boy (NYSE:LZBGet Free Report) posted its quarterly earnings data on Tuesday. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02, FiscalAI reports. La-Z-Boy had a net margin of 3.93% and a return on equity of 10.84%. The company had revenue of $541.59 million during the quarter, compared to the consensus estimate of $535.47 million. During the same period in the prior year, the business posted $0.68 EPS. The company’s quarterly revenue was up 3.8% on a year-over-year basis.

La-Z-Boy Trading Down 6.2%

Shares of La-Z-Boy stock opened at $35.57 on Thursday. The company has a market cap of $1.47 billion, a PE ratio of 17.61 and a beta of 1.27. The company has a 50 day moving average of $38.23 and a 200-day moving average of $36.06. La-Z-Boy has a 1-year low of $29.03 and a 1-year high of $48.13.

La-Z-Boy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd will be given a $0.242 dividend. The ex-dividend date is Tuesday, March 3rd. This represents a $0.97 annualized dividend and a dividend yield of 2.7%. La-Z-Boy’s payout ratio is presently 44.50%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. KeyCorp reiterated an “overweight” rating on shares of La-Z-Boy in a research note on Wednesday, December 17th. Sidoti upgraded shares of La-Z-Boy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $36.00 to $39.00 in a research note on Wednesday, November 19th. Weiss Ratings reiterated a “hold (c)” rating on shares of La-Z-Boy in a research note on Monday, December 22nd. Zacks Research cut La-Z-Boy from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 19th. Finally, Needham & Company LLC reissued a “buy” rating on shares of La-Z-Boy in a report on Wednesday, December 17th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.50.

Check Out Our Latest Stock Analysis on La-Z-Boy

Trending Headlines about La-Z-Boy

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Institutional Trading of La-Z-Boy

Several hedge funds and other institutional investors have recently made changes to their positions in LZB. Quarry LP lifted its holdings in La-Z-Boy by 4,785.7% during the 4th quarter. Quarry LP now owns 684 shares of the company’s stock worth $25,000 after purchasing an additional 670 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of La-Z-Boy by 290.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock valued at $33,000 after purchasing an additional 670 shares during the period. Geneos Wealth Management Inc. raised its position in shares of La-Z-Boy by 99.0% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company’s stock worth $42,000 after purchasing an additional 567 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in La-Z-Boy by 3,130.8% during the third quarter. CIBC Private Wealth Group LLC now owns 1,260 shares of the company’s stock valued at $43,000 after purchasing an additional 1,221 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new stake in La-Z-Boy during the fourth quarter valued at approximately $54,000. 99.62% of the stock is currently owned by institutional investors.

About La-Z-Boy

(Get Free Report)

La-Z-Boy Incorporated (NYSE: LZB) is a leading U.S. manufacturer and marketer of residential furniture, best known for its upholstered recliners, sofas, stationary chairs and sleeper sofas. The company offers a broad range of products in both fabric and leather, complemented by occasional tables, desks, lamps and other home furnishings through its branded retail network.

Founded in 1927 by cousins Edward Knabusch and Edwin Shoemaker in Monroe, Michigan, La-Z-Boy pioneered the modern reclining chair.

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Earnings History for La-Z-Boy (NYSE:LZB)

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