Janney Montgomery Scott LLC, a reputable financial services firm, has recently raised its stock holdings in La-Z-Boy Incorporated (NYSE:LZB) by an impressive 37.8% in the fourth quarter. The company now owns 20,538 shares of the furniture manufacturer’s stock, worth $469,000 according to its latest filing with the Securities & Exchange Commission.
In light of this positive development, it is interesting to examine La-Z-Boy’s recent earnings data from February 22nd. The company reported an earnings per share (EPS) of $0.91 for the quarter, an impressive $0.25 above consensus estimates of $0.66. Additionally, the business produced revenue of $572.72 million for the quarter, compared to estimates of $529.57 million.
La-Z-Boy specializes in producing reclining chairs and manufacturing residential furniture with segments including Wholesale, Retail and Corporate and Other. Its Wholesale segment alone produces upholstered furniture such as motion furniture and sofas and imports wood furniture including dining room sets; while other segments cover retail interests and corporate holdings.
Moreover, La-Z-Boy exhibited a return on equity of 19.77% during this period against a net margin of 7.03%. While there was incremental growth in revenue at .2% year-over-year , these figures suggest that strategic investment made by firms such as Janney Montgomery Scott LLC could present favorable prospects for the current fiscal year.
Sell-side analysts remain optimistic about La-Z-Boy Incorporated’s future earnings potential with a projected earnings per share of 3.6 expected at present date.Accordingly,it seems with companies like Janney Montgomery continuing to buy their stocks,the future could be set up right for them overall.La-Z- Boy inc.is one to watch closely under current market conditions moving forward,in regard to both short-term results and long-term prospects .
La-Z-Boy: A Leading Manufacturer and Distributor of Residential Furniture with Impressive Financial Performance and Investment Potential.
La-Z-Boy – A Leading Manufacturer and Distributor of Residential Furniture
La-Z-Boy, Inc. has long been recognized as a leading brand in the production of reclining chairs as well as the manufacture and distribution of residential furniture. The company operates through three major segments: Wholesale, Retail, and Corporate and Other.
The Wholesale segment is engaged mainly in the manufacturing and importing of upholstered furniture such as sofas, loveseats, chairs and motion furniture like recliners. Additionally, the company imports casegoods or wood furniture that includes entertainment centers, dining room sets, occasional pieces, and bedroom sets.
According to recent reports by various equities’ research analysts on La-Z-Boy’s shares trade at NYSE LZB; it opened at $27.55 on Friday with a market capitalization of $1.19 billion, a P/E ratio of 6.84 and a beta of 1.11. Hedge funds and other institutional investors are taking up an interest in La-z-boy; 96.55% of its stocks are owned by these categories.
Institutions Shareholders Taking Up Position In La-Z-Boy
These statistics only highlight how hedge funds have taken up positions in this household name firm.
Captrust Financial Advisors increased their holdings by 84.7%, while Point72 Hong Kong Ltd grew its stake by 540%. Tower Research Capital LLC TRC also grew its position in shares of La-Z-Boy by 186.9%, while Mutual America Management LLC increased its holdings by 18.9%, followed by Advisor Group Holding Inc., which raised its shareholdings in La-Z-Boy by about 8%.
Dividend Payment To Shareholders
In April 2017, the company declared a quarterly dividend payment to shareholders which it paid out on June 15th that year after stockholders who qualified received notices on June 2nd to confirm their shareholding status for the dividend. The declared dividend was $0.1815, and it represented a 2.64% dividend yield on an annualized basis, which highlights La-Z-Boy’s impressive financial performance.
La-Z-Boy’s impressive financial performance has not gone unnoticed; several equities research analysts have recently issued reports on their stock prices. StockNews.com initiated coverage of La-Z-Boy on March 16th, assigning the firm a “buy” rating, while TheStreet raised shares from a “c+” rating to a “b-” rating in January 2017, further highlighting how La-Z-Boy is positioned for growth.
In conclusion, from recent activities within the company and shares owned by hedge funds and other institutional investors, La-Z-Boy is undoubtedly becoming one of the most desirable companies’ to invest in due to its impressive dividend returns and overall stability as one of America’s top furniture manufacturers and retailers.