La-Z-Boy Incorporated (NYSE:LZB – Get Free Report)’s stock price hit 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 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.44. La-Z-Boy had a net margin of 3.93% and a return on equity of 10.79%. The business had revenue of $570.34 million for the quarter, compared to the consensus estimate of $569.23 million. During the same quarter last year, the firm posted $0.36 EPS. The business’s revenue for the quarter was down .1% compared to the same quarter last year.
La-Z-Boy Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Tuesday, June 2nd were paid a dividend of $0.242 per share. This represents a $0.97 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Tuesday, June 2nd. La-Z-Boy’s payout ratio is currently 48.02%.
More La-Z-Boy News
- 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
Analyst Ratings Changes
Several equities analysts recently commented on LZB shares. Weiss Ratings reissued a “hold (c)” rating on shares of La-Z-Boy in a research report on Monday, May 18th. Wall Street Zen raised shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research report on Sunday. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.00.
Check Out Our Latest Report on La-Z-Boy
Institutional Trading of La-Z-Boy
Large investors have recently modified their holdings of the business. Quarry LP lifted its stake in shares of La-Z-Boy by 4,785.7% in the fourth quarter. Quarry LP now owns 684 shares of the company’s stock worth $25,000 after acquiring an additional 670 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of La-Z-Boy by 75.2% in the 3rd quarter. Smartleaf Asset Management LLC now owns 755 shares of the company’s stock valued at $26,000 after purchasing an additional 324 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of La-Z-Boy by 290.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 901 shares of the company’s stock valued at $33,000 after buying an additional 670 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of La-Z-Boy by 99.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,140 shares of the company’s stock valued at $42,000 after buying an additional 567 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its position in shares of La-Z-Boy by 159.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,160 shares of the company’s stock worth $43,000 after buying an additional 713 shares in the last quarter. 99.62% of the stock is currently owned by institutional investors and hedge funds.
La-Z-Boy Price Performance
The business’s 50-day moving average price is $35.65 and its two-hundred day moving average price is $36.39. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 21.80 and a beta of 1.26.
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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