La-Z-Boy Incorporated (NYSE:LZB) Expected to Announce Earnings of $0.60 Per Share

Equities analysts predict that La-Z-Boy Incorporated (NYSE:LZB) will announce earnings of $0.60 per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for La-Z-Boy’s earnings. The lowest EPS estimate is $0.44 and the highest is $0.76. La-Z-Boy reported earnings per share of $0.52 in the same quarter last year, which suggests a positive year-over-year growth rate of 15.4%. The company is expected to report its next quarterly earnings report on Wednesday, November 18th.

On average, analysts expect that La-Z-Boy will report full-year earnings of $2.30 per share for the current fiscal year, with EPS estimates ranging from $2.04 to $2.55. For the next year, analysts expect that the company will report earnings of $2.70 per share, with EPS estimates ranging from $2.55 to $2.85. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover La-Z-Boy.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings data on Tuesday, August 18th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of ($0.13) by $0.31. The business had revenue of $285.50 million during the quarter, compared to the consensus estimate of $289.74 million. La-Z-Boy had a net margin of 4.07% and a return on equity of 12.42%. The company’s revenue was down 31.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 earnings per share.

LZB has been the topic of several recent analyst reports. Stifel Nicolaus raised their price target on La-Z-Boy from $25.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, June 25th. ValuEngine upgraded shares of La-Z-Boy from a “sell” rating to a “hold” rating in a research report on Monday, June 1st. KeyCorp reissued a “hold” rating on shares of La-Z-Boy in a report on Wednesday, June 24th. Sidoti lifted their price objective on La-Z-Boy from $24.00 to $29.00 and gave the stock a “neutral” rating in a research report on Friday, June 5th. Finally, Raymond James lifted their target price on shares of La-Z-Boy from $32.00 to $37.00 and gave the company an “outperform” rating in a research note on Thursday, August 20th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $34.75.

La-Z-Boy stock traded down $0.16 during mid-day trading on Friday, reaching $30.44. The company’s stock had a trading volume of 355,882 shares, compared to its average volume of 348,153. The company has a market capitalization of $1.40 billion, a P/E ratio of 22.22 and a beta of 1.24. La-Z-Boy has a 12-month low of $15.61 and a 12-month high of $37.48. The firm’s fifty day moving average price is $32.10 and its two-hundred day moving average price is $26.38.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Thursday, September 3rd were given a dividend of $0.07 per share. The ex-dividend date was Wednesday, September 2nd. This represents a $0.28 annualized dividend and a dividend yield of 0.92%. La-Z-Boy’s dividend payout ratio (DPR) is presently 12.96%.

A number of large investors have recently modified their holdings of the business. US Bancorp DE grew its stake in shares of La-Z-Boy by 2.3% during the 2nd quarter. US Bancorp DE now owns 17,171 shares of the company’s stock valued at $465,000 after purchasing an additional 390 shares during the period. Legal & General Group Plc increased its holdings in La-Z-Boy by 0.3% during the first quarter. Legal & General Group Plc now owns 139,473 shares of the company’s stock valued at $2,867,000 after buying an additional 478 shares during the last quarter. Brinker Capital Inc. raised its position in La-Z-Boy by 2.0% in the second quarter. Brinker Capital Inc. now owns 26,833 shares of the company’s stock worth $726,000 after acquiring an additional 537 shares during the period. Stone Ridge Asset Management LLC raised its position in La-Z-Boy by 6.2% in the second quarter. Stone Ridge Asset Management LLC now owns 10,343 shares of the company’s stock worth $280,000 after acquiring an additional 600 shares during the period. Finally, American International Group Inc. boosted its stake in shares of La-Z-Boy by 2.1% during the 2nd quarter. American International Group Inc. now owns 31,659 shares of the company’s stock worth $857,000 after acquiring an additional 654 shares during the last quarter. 90.60% of the stock is owned by institutional investors and hedge funds.

About La-Z-Boy

La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes, and retails upholstery furniture products, accessories, and casegoods furniture products in the United States, Canada, and internationally. It operates through Upholstery, Casegoods, and Retail segments. The Upholstery segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas.

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