La-Z-Boy (LZB) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

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La-Z-Boy (NYSE:LZB) issued its earnings results on Tuesday. The company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.08, Bloomberg Earnings reports. La-Z-Boy had a return on equity of 16.18% and a net margin of 5.92%. The company had revenue of $467.58 million during the quarter, compared to the consensus estimate of $457.17 million.

Shares of LZB opened at $36.01 on Thursday. La-Z-Boy has a one year low of $25.30 and a one year high of $39.15. The stock has a market capitalization of $1.51 billion, a P/E ratio of 19.90 and a beta of 0.85.

A number of large investors have recently added to or reduced their stakes in LZB. Bank of America Corp DE lifted its holdings in La-Z-Boy by 3.4% during the 2nd quarter. Bank of America Corp DE now owns 166,246 shares of the company’s stock worth $5,086,000 after buying an additional 5,479 shares during the last quarter. Botty Investors LLC lifted its holdings in La-Z-Boy by 11.4% during the 3rd quarter. Botty Investors LLC now owns 604,435 shares of the company’s stock worth $19,100,000 after buying an additional 61,709 shares during the last quarter. First Trust Advisors LP lifted its holdings in La-Z-Boy by 50.3% during the 3rd quarter. First Trust Advisors LP now owns 74,939 shares of the company’s stock worth $2,368,000 after buying an additional 25,070 shares during the last quarter. Alps Advisors Inc. bought a new position in La-Z-Boy during the 3rd quarter worth approximately $480,000. Finally, Asset Advisors Investment Management LLC bought a new position in La-Z-Boy during the 3rd quarter worth approximately $288,000. 90.67% of the stock is currently owned by institutional investors.

Several brokerages have recently weighed in on LZB. ValuEngine raised La-Z-Boy from a “hold” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research raised La-Z-Boy from a “sell” rating to a “hold” rating in a report on Tuesday, November 27th. Finally, Sidoti set a $38.00 price target on La-Z-Boy and gave the company a “buy” rating in a report on Wednesday.

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About La-Z-Boy

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 Upholstery, Casegoods, and Retail segments. The Upholstery segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas.

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

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