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La-Z-Boy Inc (NYSE:LZB)’s stock reached a 52-week low, trading at $33.07. This milestone marks a significant point for the company as it navigates the current market conditions. According to InvestingPro data, the company maintains a GOOD financial health score, with liquid assets exceeding short-term obligations and operating with moderate debt levels. Over the past year, La-Z-Boy has experienced a decline in its stock value, with a 1-year change of -4.69%. Despite these challenges, the company has maintained dividend payments for 14 consecutive years and achieved a 10% dividend growth in the last twelve months. InvestingPro analysis suggests the stock is slightly undervalued at current levels, with analysts maintaining a $46 price target. Investors and analysts will be closely monitoring how La-Z-Boy addresses these challenges moving forward, particularly with its healthy gross profit margin of ~44% and stable revenue growth of 3.04%.
In other recent news, La-Z-Boy Incorporated reported fiscal first-quarter results that did not meet analyst expectations. The company announced adjusted earnings per share of $0.47 for the quarter ending July 26, falling short of the projected $0.53. Revenue was reported at $492.2 million, which was slightly below the consensus estimate of $494 million. This figure also represents a 1% decline compared to the same period last year. The results were influenced by challenging consumer demand, impacting the company’s overall performance. No recent mergers or acquisitions have been reported. Additionally, there has been no mention of any upgrades or downgrades from analyst firms at this time. These developments are the latest updates concerning La-Z-Boy’s financial performance.
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