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

La-Z-Boy (NYSE:LZB) issued its earnings results on Monday. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.25, Briefing.com reports. The business had revenue of $553.54 million for the quarter, compared to the consensus estimate of $516.44 million. La-Z-Boy had a net margin of 5.73% and a return on equity of 13.55%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.99 earnings per share.

La-Z-Boy Stock Up 10.3 %

LZB opened at $37.59 on Tuesday. La-Z-Boy has a 52-week low of $25.12 and a 52-week high of $39.87. The company has a 50 day moving average of $34.79 and a two-hundred day moving average of $35.92. The company has a market cap of $1.60 billion, a P/E ratio of 12.58 and a beta of 1.25.

La-Z-Boy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Tuesday, June 4th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend was Tuesday, June 4th. La-Z-Boy’s dividend payout ratio (DPR) is 29.52%.

Insiders Place Their Bets

In other 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 value of $114,095.16. Following the completion of the transaction, the senior vice president now directly owns 21,519 shares in the company, valued at $797,924.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is owned by insiders.

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 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.