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La-Z-Boy (NYSE:LZB) saw strong trading volume on Tuesday following a better than expected earnings announcement, American Banking News.com reports. 883,061 shares traded hands during trading, an increase of 121% from the previous session’s volume of 399,792 shares.The stock last traded at $23.22 and had previously closed at $22.59.

The company reported $0.25 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.21 by $0.04. The company had revenue of $327.00 million for the quarter, compared to the consensus estimate of $321.28 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis.

The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 10th. Investors of record on Friday, August 29th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.03%.

LZB has been the subject of a number of recent research reports. Analysts at Stifel Nicolaus reiterated a “buy” rating on shares of La-Z-Boy in a research note on Monday, July 21st. They now have a $29.00 price target on the stock, down previously from $31.00. Separately, analysts at BB&T Corp. upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Thursday, June 19th. They now have a $27.00 price target on the stock. Finally, analysts at Raymond James reiterated a “strong-buy” rating on shares of La-Z-Boy in a research note on Wednesday, June 18th. They now have a $32.00 price target on the stock, down previously from $34.50. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $29.50.

The stock has a 50-day moving average of $21.9 and a 200-day moving average of $24.62. The company has a market cap of $1.204 billion and a price-to-earnings ratio of 22.17.

La-Z-Boy Incorporated is a global producer of reclining chairs. The Company manufactures, markets, imports, distributes and retails upholstery products, accessories and casegoods (NYSE:LZB) furniture products.

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