La-Z-Boy (LZB) Releases Quarterly Earnings Results, Misses Expectations By $0.21 EPS

La-Z-Boy (NYSE:LZB) posted its quarterly earnings data on Tuesday. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.21), RTT News reports. La-Z-Boy had a net margin of 5.53% and a return on equity of 14.33%. The business had revenue of $413.64 million during the quarter, compared to the consensus estimate of $402.67 million. During the same period in the prior year, the company posted $0.47 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year.

La-Z-Boy (NYSE LZB) traded down $0.20 during trading on Tuesday, reaching $28.90. The company’s stock had a trading volume of 512,873 shares, compared to its average volume of 293,262. La-Z-Boy has a 1 year low of $23.15 and a 1 year high of $34.25. The firm has a market capitalization of $1,376.94, a price-to-earnings ratio of 16.58 and a beta of 0.89.

A number of brokerages recently commented on LZB. Zacks Investment Research upgraded La-Z-Boy from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Wednesday, January 31st. ValuEngine upgraded La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Thursday, November 30th. Stifel Nicolaus restated a “hold” rating on shares of La-Z-Boy in a research note on Friday, December 1st. Finally, KeyCorp restated a “buy” rating and issued a $36.00 target price on shares of La-Z-Boy in a research note on Friday, November 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. La-Z-Boy has an average rating of “Hold” and a consensus price target of $33.50.

In other La-Z-Boy news, SVP Otis S. Sawyer sold 12,000 shares of the stock in a transaction on Friday, December 29th. The stock was sold at an average price of $31.51, for a total transaction of $378,120.00. Following the completion of the transaction, the senior vice president now directly owns 60,238 shares in the company, valued at $1,898,099.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Douglas Collier sold 4,000 shares of the stock in a transaction on Friday, December 29th. The stock was sold at an average price of $31.71, for a total value of $126,840.00. The disclosure for this sale can be found here. Corporate insiders own 3.17% of the company’s stock.

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La-Z-Boy Company Profile

La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes and retails upholstery furniture products. The Company also imports, distributes and retails accessories and casegoods (wood) furniture products. The Company’s segments include the Upholstery segment, the Casegoods segment and the Retail segment.

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

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