La-Z-Boy (LZB) Stock Falls on Revenue Miss

NEW YORK (TheStreet) -- Shares of La-Z-Boy (LZB) were falling 4.3% to $26 on Wednesday morning after the furniture maker missed analysts' estimates for revenue in the fiscal fourth quarter.

La-Z-Boy reported revenue of $374.94 million for the fiscal fourth quarter, a 6.2% increase from the year-ago quarter, but below analysts' estimates of $379.13 million. The company reported earnings of 38 cents a share for the quarter, in line with analysts' estimates.

Revenue from the company's upholstery segment grew 6.9% from the year-ago quarter to $305.3 million, while revenue from the casegoods segments fell 4.9% to $25.9 million for the quarter.

"We are pleased with our results for the full fiscal 2015 year. We increased sales across all three operating segments, and increased our consolidated operating profit, earnings per share and dividend," Chairman, President, and CEO Kurt L. Darrow said in a statement.

TheStreet Ratings team rates LA-Z-BOY INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate LA-Z-BOY INC (LZB) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, expanding profit margins and solid stock price performance. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity."

You can view the full analysis from the report here: LZB Ratings Report

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