Zacks: Analysts Expect La-Z-Boy Incorporated (NYSE:LZB) to Post $0.63 Earnings Per Share

Share on StockTwits

Wall Street brokerages expect La-Z-Boy Incorporated (NYSE:LZB) to announce $0.63 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for La-Z-Boy’s earnings, with the lowest EPS estimate coming in at $0.60 and the highest estimate coming in at $0.66. La-Z-Boy also reported earnings per share of $0.63 during the same quarter last year. The company is scheduled to report its next quarterly earnings results on Tuesday, February 18th.

On average, analysts expect that La-Z-Boy will report full year earnings of $2.26 per share for the current fiscal year, with EPS estimates ranging from $2.22 to $2.31. For the next year, analysts anticipate that the company will post earnings of $2.47 per share, with EPS estimates ranging from $2.45 to $2.50. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow La-Z-Boy.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings data on Wednesday, November 20th. The company reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by ($0.03). La-Z-Boy had a return on equity of 15.10% and a net margin of 3.98%. The firm had revenue of $447.21 million for the quarter, compared to the consensus estimate of $454.39 million. During the same period in the prior year, the firm posted $0.48 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year.

A number of research firms recently weighed in on LZB. Zacks Investment Research downgraded shares of La-Z-Boy from a “hold” rating to a “sell” rating in a research note on Tuesday, November 26th. ValuEngine lowered shares of La-Z-Boy from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Finally, Raymond James raised shares of La-Z-Boy from a “market perform” rating to an “outperform” rating and set a $36.00 price objective on the stock in a research note on Friday, August 23rd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $37.00.

Shares of NYSE LZB traded down $0.24 during mid-day trading on Thursday, hitting $30.93. The company’s stock had a trading volume of 9,302 shares, compared to its average volume of 432,074. La-Z-Boy has a one year low of $25.30 and a one year high of $37.48. The company’s fifty day simple moving average is $34.69 and its 200-day simple moving average is $32.62. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.77 and a quick ratio of 1.12. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 14.45 and a beta of 0.67.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, December 2nd will be paid a dividend of $0.14 per share. The ex-dividend date is Friday, November 29th. This is a boost from La-Z-Boy’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.81%. La-Z-Boy’s payout ratio is 26.17%.

In related news, SVP Darrell Dewain Edwards sold 14,820 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $33.43, for a total value of $495,432.60. Following the completion of the sale, the senior vice president now owns 59,470 shares in the company, valued at $1,988,082.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.02% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Amundi Pioneer Asset Management Inc. increased its stake in shares of La-Z-Boy by 1.7% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 67,799 shares of the company’s stock valued at $2,236,000 after acquiring an additional 1,124 shares during the last quarter. New York State Teachers Retirement System grew its holdings in shares of La-Z-Boy by 2.0% in the 2nd quarter. New York State Teachers Retirement System now owns 134,968 shares of the company’s stock valued at $4,138,000 after buying an additional 2,600 shares during the period. Bessemer Group Inc. acquired a new position in shares of La-Z-Boy in the 2nd quarter valued at $172,000. Arizona State Retirement System raised its stake in La-Z-Boy by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 72,378 shares of the company’s stock worth $2,219,000 after buying an additional 400 shares during the period. Finally, Strs Ohio lifted its holdings in La-Z-Boy by 2.1% during the second quarter. Strs Ohio now owns 29,100 shares of the company’s stock worth $892,000 after acquiring an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 89.04% of the company’s stock.

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.

Featured Story: Why do companies pay special dividends?

Get a free copy of the Zacks research report on La-Z-Boy (LZB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

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.