Wall Street brokerages expect La-Z-Boy Incorporated (NYSE:LZB) to report sales of $415.72 million for the current quarter, Zacks reports. Three analysts have provided estimates for La-Z-Boy’s earnings, with estimates ranging from $410.36 million to $420.10 million. La-Z-Boy posted sales of $384.70 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.1%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, August 20th.
On average, analysts expect that La-Z-Boy will report full-year sales of $1.83 billion for the current year, with estimates ranging from $1.81 billion to $1.84 billion. For the next financial year, analysts expect that the company will post sales of $1.91 billion, with estimates ranging from $1.91 billion to $1.92 billion. Zacks’ sales averages are an average based on a survey of research firms that cover La-Z-Boy.
La-Z-Boy (NYSE:LZB) last released its quarterly earnings data on Tuesday, June 18th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.01). The business had revenue of $453.79 million during the quarter, compared to analysts’ expectations of $457.13 million. La-Z-Boy had a return on equity of 15.33% and a net margin of 3.93%. La-Z-Boy’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 earnings per share.
Large investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of La-Z-Boy during the 4th quarter valued at about $29,919,000. BlackRock Inc. increased its stake in shares of La-Z-Boy by 2.9% during the 4th quarter. BlackRock Inc. now owns 7,011,688 shares of the company’s stock valued at $194,294,000 after acquiring an additional 198,714 shares during the last quarter. Tributary Capital Management LLC increased its stake in shares of La-Z-Boy by 45.1% during the 1st quarter. Tributary Capital Management LLC now owns 411,237 shares of the company’s stock valued at $13,567,000 after acquiring an additional 127,742 shares during the last quarter. 361 Capital LLC acquired a new position in shares of La-Z-Boy during the 1st quarter valued at about $2,890,000. Finally, Geode Capital Management LLC increased its stake in shares of La-Z-Boy by 4.4% during the 4th quarter. Geode Capital Management LLC now owns 696,483 shares of the company’s stock valued at $19,299,000 after acquiring an additional 29,648 shares during the last quarter. Institutional investors own 88.76% of the company’s stock.
NYSE:LZB traded down $0.38 on Tuesday, reaching $32.26. The stock had a trading volume of 288,641 shares, compared to its average volume of 343,467. The stock has a market cap of $1.52 billion, a P/E ratio of 15.07 and a beta of 0.79. The stock’s fifty day simple moving average is $31.24. La-Z-Boy has a 12-month low of $25.30 and a 12-month high of $39.15.
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.
Featured Article: What is a death cross?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for La-Z-Boy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for La-Z-Boy and related companies with MarketBeat.com's FREE daily email newsletter.