La-Z-Boy Incorporated (NYSE:LZB - Get Free Report) announced a quarterly dividend on Tuesday, August 18th. Stockholders of record on Thursday, September 3rd will be paid a dividend of 0.242 per share on Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Thursday, September 3rd.
La-Z-Boy has raised its dividend by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 4 years. La-Z-Boy has a payout ratio of 26.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect La-Z-Boy to earn $3.30 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 29.1%.
La-Z-Boy Trading Down 1.3%
Shares of La-Z-Boy stock opened at $40.98 on Wednesday. The company's 50-day moving average price is $40.00 and its 200-day moving average price is $36.91. La-Z-Boy has a 12-month low of $29.03 and a 12-month high of $44.90. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 1.28 and a beta of 1.27.
La-Z-Boy (NYSE:LZB - Get Free Report) last issued its quarterly earnings data on Tuesday, August 18th. The company reported $0.43 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.06). La-Z-Boy had a net margin of 4.80% and a return on equity of 11.97%. The firm had revenue of $475.69 million for the quarter, compared to analysts' expectations of $501.44 million. During the same period in the prior year, the firm posted $0.47 EPS. La-Z-Boy's revenue was down 3.4% on a year-over-year basis. On average, sell-side analysts predict that La-Z-Boy will post 2.98 earnings per share for the current year.
La-Z-Boy News Summary
Here are the key news stories impacting La-Z-Boy this week:
- Positive Sentiment: Retail momentum was encouraging: written sales increased 16%, written same-store sales rose 3%, and delivered retail sales grew 10%. Retail operating margins also improved year over year. The company added four company-owned stores and agreed to acquire two more independent stores. La-Z-Boy First-Quarter Results
- Positive Sentiment: La-Z-Boy returned approximately $35 million to shareholders through share repurchases and dividends, up 62% from the prior year. It also declared a quarterly dividend of $0.242 per share, payable September 15 to shareholders of record September 3, representing an annualized yield of about 2.4%.
- Positive Sentiment: The company ended the quarter with $267.3 million in cash and no external debt, providing financial flexibility while it consolidates manufacturing and expands its retail footprint.
- Neutral Sentiment: Management expects fiscal second-quarter revenue of $500 million to $520 million. Although this would represent sequential improvement, the range is below the approximately $536.9 million analyst consensus, keeping near-term demand concerns in focus. La-Z-Boy Fiscal First-Quarter Results and Outlook
- Negative Sentiment: Fiscal first-quarter adjusted EPS was $0.43, below the $0.48-$0.49 consensus and down from $0.47 a year earlier. Revenue fell 3.4% to $475.7 million, well below estimates near $501 million. On a GAAP basis, La-Z-Boy posted a $2.3 million net loss, or $0.06 per share, compared with a profit a year ago. La-Z-Boy Earnings Miss
- Negative Sentiment: Wholesale sales declined 9% to roughly $323 million, while the consolidated operating result swung to a loss from income in the prior-year quarter. The below-consensus second-quarter outlook suggests demand normalization may persist.
- Negative Sentiment: Reported insider-trading data showed several executives selling shares and no insider purchases over the past six months, a potentially cautious signal for investors.
La-Z-Boy Company Profile
(
Get Free Report)
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.
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