Wall Street brokerages forecast that La-Z-Boy Incorporated (NYSE:LZB) will post earnings per share of $0.64 for the current fiscal quarter, according to Zacks. Three analysts have made estimates for La-Z-Boy’s earnings, with the highest EPS estimate coming in at $0.65 and the lowest estimate coming in at $0.63. La-Z-Boy reported earnings per share of $0.57 in the same quarter last year, which would indicate a positive year over year growth rate of 12.3%. The company is expected to announce its next quarterly earnings report after the market closes on Tuesday, June 19th.
According to Zacks, analysts expect that La-Z-Boy will report full-year earnings of $1.86 per share for the current year. For the next year, analysts expect that the business will post earnings of $2.19 per share, with EPS estimates ranging from $2.15 to $2.22. Zacks’ earnings per share averages are an average based on a survey of research firms that follow La-Z-Boy.
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La-Z-Boy (NYSE:LZB) last released its earnings results on Tuesday, June 19th. The company reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.08. The company had revenue of $420.00 million during the quarter, compared to analysts’ expectations of $427.43 million. La-Z-Boy had a return on equity of 13.96% and a net margin of 4.74%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the firm earned $0.57 EPS.
Several equities research analysts have recently commented on LZB shares. Zacks Investment Research cut La-Z-Boy from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. ValuEngine cut La-Z-Boy from a “buy” rating to a “hold” rating in a research note on Saturday, June 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. La-Z-Boy presently has an average rating of “Hold” and an average target price of $33.50.
Large investors have recently bought and sold shares of the company. Amalgamated Bank bought a new position in shares of La-Z-Boy in the 4th quarter worth $218,000. AMP Capital Investors Ltd bought a new position in shares of La-Z-Boy in the 4th quarter worth $239,000. Burney Co. bought a new position in shares of La-Z-Boy in the 1st quarter worth $241,000. Invictus RG bought a new position in shares of La-Z-Boy in the 4th quarter worth $265,000. Finally, Toronto Dominion Bank boosted its position in shares of La-Z-Boy by 80.0% in the 1st quarter. Toronto Dominion Bank now owns 9,000 shares of the company’s stock worth $269,000 after purchasing an additional 4,000 shares during the last quarter. Institutional investors and hedge funds own 86.78% of the company’s stock.
Shares of La-Z-Boy traded up $0.10, hitting $33.25, during midday trading on Tuesday, according to MarketBeat.com. The stock had a trading volume of 835,700 shares, compared to its average volume of 342,142. The stock has a market capitalization of $1.54 billion, a P/E ratio of 19.22 and a beta of 0.88. La-Z-Boy has a fifty-two week low of $23.15 and a fifty-two week high of $34.25.
The business also recently declared a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Friday, June 1st were given a $0.12 dividend. The ex-dividend date of this dividend was Thursday, May 31st. This represents a $0.48 annualized dividend and a dividend yield of 1.44%. La-Z-Boy’s dividend payout ratio is currently 27.75%.
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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