La-Z-Boy (NYSE:LZB) Releases Earnings Results, Beats Estimates By $0.44 EPS

La-Z-Boy (NYSE:LZB) released its quarterly earnings results on Tuesday. The company reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.44, FiscalAI reports. The firm had revenue of $570.34 million for the quarter, compared to the consensus estimate of $569.23 million. La-Z-Boy had a return on equity of 12.02% and a net margin of 4.80%.The company’s revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the business posted $0.36 EPS.

La-Z-Boy Stock Performance

NYSE LZB opened at $40.33 on Thursday. The company has a market capitalization of $1.65 billion, a PE ratio of 16.33 and a beta of 1.26. The business’s fifty day moving average is $35.82 and its 200 day moving average is $36.39. La-Z-Boy has a fifty-two week low of $29.03 and a fifty-two week high of $44.90.

La-Z-Boy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Tuesday, June 2nd were given a dividend of $0.242 per share. The ex-dividend date was Tuesday, June 2nd. This represents a $0.97 annualized dividend and a yield of 2.4%. La-Z-Boy’s payout ratio is 48.02%.

Key Headlines Impacting La-Z-Boy

Here are the key news stories impacting La-Z-Boy this week:

• Positive Sentiment: La-Z-Boy beat expectations on both earnings and revenue, reporting adjusted EPS of $1.26 versus $0.82 expected and revenue of $570.3 million versus $569.2 million expected. Article Title
• Positive Sentiment: Retail-led growth and margin improvement were key highlights, with retail written sales up 11% and operating margins improving, helping offset softer wholesale and Joybird results. Article Title
• Positive Sentiment: The company announced a new $300 million share repurchase authorization and continued dividend growth, reinforcing confidence in cash flow and capital returns. Article Title
• Neutral Sentiment: Management said it is still navigating a soft furniture market, but highlighted supply-chain restructuring and store expansion as ways to outgrow industry headwinds. Article Title

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LZB. Wall Street Zen upgraded La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Sunday. Weiss Ratings restated a “hold (c)” rating on shares of La-Z-Boy in a research note on Monday, May 18th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, La-Z-Boy presently has an average rating of “Moderate Buy” and an average target price of $39.00.

Hedge Funds Weigh In On La-Z-Boy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in La-Z-Boy by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,655,385 shares of the company’s stock valued at $98,968,000 after purchasing an additional 6,901 shares in the last quarter. Franklin Resources Inc. lifted its position in La-Z-Boy by 24.0% during the fourth quarter. Franklin Resources Inc. now owns 1,851,873 shares of the company’s stock valued at $69,019,000 after purchasing an additional 358,945 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in La-Z-Boy by 46.3% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 895,003 shares of the company’s stock valued at $33,357,000 after purchasing an additional 283,364 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of La-Z-Boy by 5.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 764,768 shares of the company’s stock valued at $28,503,000 after acquiring an additional 41,543 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of La-Z-Boy by 100.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 627,638 shares of the company’s stock valued at $23,392,000 after acquiring an additional 313,932 shares in the last quarter. 99.62% of the stock is currently owned by hedge funds and other institutional investors.

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.