Shares of La-Z-Boy Incorporated (NYSE:LZB – Get Free Report) reached a new 52-week high on Wednesday following a stronger than expected earnings report. The company traded as high as $41.12 and last traded at $43.5750, with a volume of 42368 shares changing hands. The stock had previously closed at $35.06.
The company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.44. The company had revenue of $570.34 million during the quarter, compared to analyst estimates of $569.23 million. La-Z-Boy had a net margin of 3.93% and a return on equity of 10.79%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period last year, the business earned $0.36 EPS.
La-Z-Boy Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, June 2nd were paid a $0.242 dividend. This represents a $0.97 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Tuesday, June 2nd. La-Z-Boy’s dividend payout ratio (DPR) is 48.02%.
Key Stories Impacting La-Z-Boy
- Positive Sentiment: Fiscal Q4 adjusted EPS came in at $1.26, well above the $0.82 consensus, while revenue of $570.3 million also slightly beat estimates. Article: La-Z-Boy Incorporated Reports Strong Fourth Quarter Results Led By Retail Sales Growth And Broad-Based Margin Improvement; Finalizes Multiple Strategic Initiatives
- Positive Sentiment: Retail sales growth and broad-based margin improvement showed the company is benefiting from its store network expansion and better operating efficiency. Article: La-Z-Boy Incorporated Reports Strong Fourth Quarter Results Led By Retail Sales Growth And Broad-Based Margin Improvement; Finalizes Multiple Strategic Initiatives
- Positive Sentiment: The company authorized a new $300 million share repurchase program and continued its pattern of dividend increases, reinforcing confidence in cash flow and capital returns. Article: La-Z-Boy Incorporated Reports Strong Fourth Quarter Results Led By Retail Sales Growth And Broad-Based Margin Improvement; Finalizes Multiple Strategic Initiatives
- Neutral Sentiment: Management also guided first-quarter revenue to $490 million-$510 million, which was broadly in line with market expectations and suggests steady near-term demand. Article: La-Z-Boy Incorporated Reports Strong Fourth Quarter Results Led By Retail Sales Growth And Broad-Based Margin Improvement; Finalizes Multiple Strategic Initiatives
Wall Street Analyst Weigh In
LZB has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of La-Z-Boy in a report on Monday, May 18th. Wall Street Zen raised La-Z-Boy from a “hold” rating to a “buy” rating in a research report on Sunday. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, La-Z-Boy currently has an average rating of “Moderate Buy” and a consensus target price of $39.00.
View Our Latest Stock Report on LZB
Hedge Funds Weigh In On La-Z-Boy
A number of large investors have recently bought and sold shares of LZB. Quarry LP boosted its stake in La-Z-Boy by 4,785.7% in the fourth quarter. Quarry LP now owns 684 shares of the company’s stock valued at $25,000 after acquiring an additional 670 shares during the period. Smartleaf Asset Management LLC raised its position in shares of La-Z-Boy by 75.2% during the 3rd quarter. Smartleaf Asset Management LLC now owns 755 shares of the company’s stock worth $26,000 after purchasing an additional 324 shares during the period. EverSource Wealth Advisors LLC lifted its holdings 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 worth $33,000 after purchasing an additional 670 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings 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. Finally, Rockefeller Capital Management L.P. boosted its position in La-Z-Boy by 159.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the company’s stock valued at $43,000 after purchasing an additional 713 shares during the period. Institutional investors own 99.62% of the company’s stock.
La-Z-Boy Stock Performance
The stock has a market capitalization of $1.79 billion, a P/E ratio of 21.80 and a beta of 1.26. The stock has a 50 day moving average of $35.65 and a 200 day moving average of $36.39.
La-Z-Boy Company Profile
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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