La-Z-Boy (NYSE:LZB) Announces Earnings Results, Beats Expectations By $0.25 EPS

La-Z-Boy (NYSE:LZBGet Free Report) announced its earnings results on Monday. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.25, reports. La-Z-Boy had a net margin of 5.99% and a return on equity of 13.23%. The business had revenue of $553.54 million during the quarter, compared to analysts’ expectations of $516.44 million. During the same period in the prior year, the company earned $0.99 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year.

La-Z-Boy Stock Up 19.4 %

Shares of LZB traded up $6.61 during midday trading on Wednesday, hitting $40.70. The company had a trading volume of 3,001,214 shares, compared to its average volume of 370,950. The company’s 50 day moving average price is $34.88 and its 200 day moving average price is $35.96. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 14.38 and a beta of 1.25. La-Z-Boy has a 52 week low of $25.12 and a 52 week high of $41.08.

La-Z-Boy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Tuesday, June 4th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.80 annualized dividend and a dividend yield of 1.97%. La-Z-Boy’s payout ratio is 28.27%.

Insider Transactions at La-Z-Boy

In related news, SVP Michael Adam Leggett sold 3,077 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $37.08, for a total transaction of $114,095.16. Following the completion of the sale, the senior vice president now directly owns 21,519 shares of the company’s stock, valued at approximately $797,924.52. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.70% of the company’s stock.

About La-Z-Boy

(Get Free Report)

La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes, and retails upholstery furniture products, accessories, and casegoods furniture products in the United States, Canada, and internationally. It operates through Wholesale, Retail, Corporate and Other segments. The Wholesale segment manufactures, and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas; and imports, distributes, and retails casegoods (wood) furniture, including occasional pieces, bedroom sets, dining room sets, entertainment centers, and occasional pieces.

See Also

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

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