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La-Z-Boy Inc (NYSE:LZB). shares soared to a 52-week high of $46.48, reflecting a period of strong performance for the furniture company. With a market capitalization of $1.92 billion and a P/E ratio of 15.69, the company has demonstrated solid fundamentals. According to InvestingPro analysis, the stock appears fairly valued at current levels. This peak represents a significant milestone for the company, which has seen its stock price climb steadily over the past year. Investors have been buoyed by La-Z-Boy’s strategic initiatives and solid financial results, contributing to an impressive 30.39% one-year total return. The company maintains a healthy 13% return on equity and offers a 1.92% dividend yield. The achievement of this 52-week high underscores the market’s confidence in La-Z-Boy’s growth trajectory and its ability to continue delivering value to shareholders. For deeper insights into LZB’s performance metrics and growth potential, check out the comprehensive research report available on InvestingPro, which covers over 1,400 US stocks with expert analysis and actionable intelligence.
In other recent news, La-Z-Boy Incorporated reported robust fiscal second quarter results, with adjusted earnings per share of $0.71, exceeding analyst estimates of $0.64. Revenue also displayed a year-on-year increase of 2%, totaling $521 million, outperforming the consensus forecast of $505.98 million. The company’s retail segment, encompassing company-owned La-Z-Boy Furniture Galleries stores, spearheaded this growth with sales augmenting 3% to $222 million.
La-Z-Boy has also provided a positive guidance for the fiscal third quarter, projecting revenue of $505-525 million, surpassing analyst estimates of $510.5 million. The company has announced a 10% increase in its quarterly dividend to $0.22 per share, reflecting its continued progress and efficient execution throughout the enterprise.
In another significant development, La-Z-Boy has announced a leadership change within its Board of Directors. Melinda Whittington, the company’s President and CEO, has been appointed to the additional role of Chair of the Board, succeeding Michael Lawton, who will resume his role as independent Lead Director. These are the recent developments for La-Z-Boy, a company known for maintaining dividend payments for 13 consecutive years.
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