La-Z-Boy Incorporated (LZB) Expected to Post Quarterly Sales of $468.43 Million

Brokerages expect La-Z-Boy Incorporated (NYSE:LZB) to report $468.43 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for La-Z-Boy’s earnings. The highest sales estimate is $472.50 million and the lowest is $463.89 million. La-Z-Boy reported sales of $420.03 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.5%. The company is expected to issue its next earnings results after the market closes on Tuesday, June 18th.

On average, analysts expect that La-Z-Boy will report full year sales of $1.76 billion for the current year, with estimates ranging from $1.75 billion to $1.76 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.86 billion, with estimates ranging from $1.85 billion to $1.87 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover La-Z-Boy.

La-Z-Boy (NYSE:LZB) last issued 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 business had revenue of $467.58 million during the quarter, compared to analyst estimates of $457.17 million.

A number of brokerages recently commented on LZB. Zacks Investment Research lowered La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. ValuEngine lowered La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. Finally, Sidoti set a $38.00 target price on La-Z-Boy and gave the company a “buy” rating in a research report on Wednesday, February 20th.

In other La-Z-Boy news, insider Darrell Dewain Edwards sold 1,777 shares of La-Z-Boy stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $36.02, for a total transaction of $64,007.54. Following the completion of the transaction, the insider now owns 31,947 shares in the company, valued at approximately $1,150,730.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John Douglas Collier sold 12,814 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The stock was sold at an average price of $35.68, for a total value of $457,203.52. Following the completion of the transaction, the senior vice president now owns 67,256 shares in the company, valued at approximately $2,399,694.08. The disclosure for this sale can be found here. Insiders sold a total of 230,598 shares of company stock valued at $7,842,411 over the last ninety days. 4.55% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. Penserra Capital Management LLC bought a new stake in La-Z-Boy during the 1st quarter valued at $28,000. FTB Advisors Inc. bought a new stake in La-Z-Boy during the 1st quarter valued at $30,000. NumerixS Investment Technologies Inc bought a new stake in La-Z-Boy during the 1st quarter valued at $94,000. Quantamental Technologies LLC bought a new stake in La-Z-Boy during the 4th quarter valued at $112,000. Finally, Meeder Asset Management Inc. raised its holdings in La-Z-Boy by 44.9% during the 4th quarter. Meeder Asset Management Inc. now owns 4,111 shares of the company’s stock valued at $114,000 after acquiring an additional 1,274 shares during the period. Institutional investors and hedge funds own 92.59% of the company’s stock.

La-Z-Boy stock traded down $0.05 during midday trading on Wednesday, reaching $33.53. The stock had a trading volume of 211,300 shares, compared to its average volume of 307,506. La-Z-Boy has a 12 month low of $25.30 and a 12 month high of $39.15. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 18.52 and a beta of 0.92.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Thursday, May 30th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend is Wednesday, May 29th. La-Z-Boy’s payout ratio is 28.73%.

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.

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