La-Z-Boy Incorporated (LZB) To Go Ex-Dividend on March 3rd

La-Z-Boy Incorporated (NYSE:LZB) announced a quarterly dividend on Tuesday, February 17th. Shareholders of record on Tuesday, March 3rd will be paid a dividend of 0.242 per share on Friday, March 13th. This represents a c) dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, March 3rd.

La-Z-Boy has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 4 years. La-Z-Boy has a dividend payout ratio of 26.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect La-Z-Boy to earn $3.35 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 28.7%.

La-Z-Boy Stock Performance

LZB opened at $35.66 on Friday. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 17.65 and a beta of 1.27. The company has a fifty day moving average of $37.73 and a 200 day moving average of $36.03. La-Z-Boy has a fifty-two week low of $29.03 and a fifty-two week high of $45.60.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings data on Tuesday, February 17th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.59 by $0.02. La-Z-Boy had a net margin of 3.93% and a return on equity of 10.79%. The business had revenue of $541.59 million during the quarter, compared to the consensus estimate of $535.47 million. During the same quarter in the prior year, the firm earned $0.68 EPS. The business’s revenue was up 3.8% on a year-over-year basis. On average, equities research analysts forecast that La-Z-Boy will post 2.99 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on LZB. Sidoti raised La-Z-Boy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $36.00 to $39.00 in a research note on Wednesday, November 19th. Needham & Company LLC restated a “buy” rating on shares of La-Z-Boy in a research report on Wednesday, December 17th. KeyCorp reiterated an “overweight” rating on shares of La-Z-Boy in a research report on Wednesday, December 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of La-Z-Boy in a report on Monday, December 22nd. Finally, Zacks Research cut La-Z-Boy from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

La-Z-Boy Company Profile

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.