$415.72 Million in Sales Expected for La-Z-Boy Incorporated (NYSE:LZB) This Quarter

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.

LZB has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of FirstService from a “strong sell” rating to a “hold” rating and set a $110.00 target price on the stock in a report on Tuesday, June 25th. TheStreet upgraded shares of Stitch Fix from a “d” rating to a “c-” rating in a report on Wednesday, June 26th. Finally, Sidoti lowered shares of La-Z-Boy from a “buy” rating to a “neutral” rating and reduced their target price for the company from $38.00 to $35.00 in a report on Thursday, June 6th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $36.67.

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.

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Earnings History and Estimates for La-Z-Boy (NYSE:LZB)

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