(LZB) La-Z-Boy Incorporated – Fourth-Quarter Surprise of 89%

La-Z-Boy, Inc. (LZB) recently hit a new 52-week high above $15 on the company’s better than expected Q4 results from mid February.

Fourth-Quarter Surprise of 89%

Sales for the period were up 5.7% from last year to $305 million, producing earnings of 17 cents, 89% ahead of the Zacks Consensus Estimate. La-Z-Boy has been on a roll over the last four quarters, with an average earnings surprise of 113%.

La-Z-Boy noted that its upholstery segment saw its operating margin expand to 11% from a negative reading last year and added $20 million to its cash position for a total of $80 in cash and equivalents.

Estimates Jump

Analysts raised estimates for this Zacks #2 rank stock on the good quarter, with the current year jumping 12 cents to 55 cents. The next-year estimate is up 11 cents to 94 cents, a bullish 72% growth projection.

Valuation

With some nice gains in hand, this stock does look a bit pricey, trading with a forward P/E multiple 23X, a premium to the overall market.

The Chart

Shares of LZB recently hit a new 52-week high above $15 on the strong results and rising estimates, take a look below.

Michael Vodicka is the Momentum Stock Strategist for Zacks.com. He is also the Editor in charge of the market-beating Zacks Surprise Trader Service.

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