La-Z-Boy Incorporated (LZB) Expected to Announce Earnings of $0.69 Per Share

Wall Street analysts predict that La-Z-Boy Incorporated (NYSE:LZB) will post earnings of $0.69 per share for the current quarter, Zacks reports. Three analysts have provided estimates for La-Z-Boy’s earnings, with estimates ranging from $0.68 to $0.70. La-Z-Boy posted earnings of $0.66 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.5%. The business is scheduled to announce its next quarterly earnings results on Tuesday, June 18th.

According to Zacks, analysts expect that La-Z-Boy will report full year earnings of $2.18 per share for the current fiscal year, with EPS estimates ranging from $2.14 to $2.21. For the next fiscal year, analysts forecast that the firm will post earnings of $2.41 per share, with EPS estimates ranging from $2.35 to $2.47. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow La-Z-Boy.

La-Z-Boy (NYSE:LZB) last announced its earnings results on Tuesday, February 19th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. La-Z-Boy had a return on equity of 15.94% and a net margin of 5.92%. The company had revenue of $467.58 million during the quarter, compared to analysts’ expectations of $457.17 million.

Several equities research analysts recently weighed in on the company. ValuEngine upgraded La-Z-Boy from a “hold” rating to a “buy” rating in a research note on Wednesday, February 20th. Zacks Investment Research raised La-Z-Boy from a “hold” rating to a “buy” rating and set a $40.00 price target on the stock in a research report on Saturday, February 23rd. Finally, Sidoti set a $38.00 price target on La-Z-Boy and gave the stock a “buy” rating in a research report on Wednesday, February 20th.

Shares of LZB opened at $34.97 on Friday. The stock has a market capitalization of $1.60 billion, a PE ratio of 19.32 and a beta of 0.95. La-Z-Boy has a 1 year low of $25.30 and a 1 year high of $39.15.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Monday, March 11th were issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Friday, March 8th. La-Z-Boy’s payout ratio is currently 28.73%.

In other La-Z-Boy news, insider Darrell Dewain Edwards sold 1,777 shares of the business’s stock in a transaction on Thursday, February 21st. The stock was sold at an average price of $36.02, for a total transaction of $64,007.54. Following the sale, the insider now directly owns 31,947 shares in the company, valued at $1,150,730.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Kurt L. Darrow sold 100,000 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $34.39, for a total value of $3,439,000.00. Following the sale, the chief executive officer now owns 540,642 shares in the company, valued at $18,592,678.38. The disclosure for this sale can be found here. In the last three months, insiders sold 230,598 shares of company stock worth $7,842,411. Corporate insiders own 4.55% of the company’s stock.

A number of large investors have recently made changes to their positions in LZB. Vanguard Group Inc lifted its holdings in shares of La-Z-Boy by 1.8% in the 3rd quarter. Vanguard Group Inc now owns 4,667,726 shares of the company’s stock worth $147,501,000 after purchasing an additional 80,890 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of La-Z-Boy by 11.2% in the 4th quarter. Nordea Investment Management AB now owns 161,794 shares of the company’s stock worth $4,484,000 after purchasing an additional 16,275 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of La-Z-Boy by 3.2% in the 3rd quarter. BlackRock Inc. now owns 6,812,974 shares of the company’s stock worth $215,291,000 after purchasing an additional 210,123 shares during the last quarter. Employees Retirement System of Texas lifted its holdings in shares of La-Z-Boy by 27.5% in the 4th quarter. Employees Retirement System of Texas now owns 51,000 shares of the company’s stock worth $1,413,000 after purchasing an additional 11,000 shares during the last quarter. Finally, Vident Investment Advisory LLC lifted its holdings in shares of La-Z-Boy by 14.0% in the 3rd quarter. Vident Investment Advisory LLC now owns 98,979 shares of the company’s stock worth $3,128,000 after purchasing an additional 12,132 shares during the last quarter. Institutional investors own 92.24% of the company’s stock.

La-Z-Boy Company Profile

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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