La-Z-Boy Rises After Q4 Earnings; Stock Trading at New 52-Week High

released its fiscal fourth-quarter earnings after the closing bell on Tuesday. The furniture company reported earnings per share and revenue that came in above Wall Street consensus estimates. The stock initially traded up around 2 percent in the after-hours session, but subsequently gave back those gains. At last check, LZB was down a little less than 1.50 percent in late trading. The company reported net income of $18.3 million or $0.33 per share, compared to $19.6 million or $0.37 per share, in last year's corresponding quarter. This came in ahead of Wall Street analysts' consensus EPS estimates of $0.28. Revenue in the quarter was up 9.8 percent to $359.5 million from $327.39 million last year. This also exceeded Wall Street consensus revenue estimates of $357.67 million. After rising more than 6 percent during Tuesday's regular session, and prior to its Q4 earnings release, La-Z-Boy is now sitting at new 52-week high levels above $20.00. This should be a name to watch going forward as a further breakout is a distinct possibility. Year-to-date, the stock has climbed more than 43 percent.