Zacks: Brokerages Expect La-Z-Boy Incorporated (NYSE:LZB) Will Announce Earnings of $0.63 Per Share

Wall Street analysts expect that La-Z-Boy Incorporated (NYSE:LZB) will report earnings per share (EPS) of $0.63 for the current fiscal quarter, according to Zacks. Three analysts have provided 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 in the same quarter last year. The company is scheduled to announce its next earnings results after the market closes on Tuesday, February 18th.

According to Zacks, analysts expect that La-Z-Boy will report full year earnings of $2.26 per share for the current financial year, with EPS estimates ranging from $2.22 to $2.31. For the next financial year, analysts expect that the business will report earnings of $2.47 per share, with EPS estimates ranging from $2.45 to $2.50. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover La-Z-Boy.

La-Z-Boy (NYSE:LZB) last issued its earnings results on Wednesday, November 20th. The company reported $0.52 EPS for the quarter, missing the 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 during the quarter, compared to the consensus estimate of $454.39 million. During the same period last year, the business earned $0.48 earnings per share. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year.

A number of research firms have recently commented on LZB. Zacks Investment Research downgraded shares of La-Z-Boy from a “hold” rating to a “sell” rating in a report on Wednesday, December 18th. ValuEngine raised shares of La-Z-Boy from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $37.00.

La-Z-Boy stock traded down $0.18 on Friday, hitting $32.03. The company’s stock had a trading volume of 224,190 shares, compared to its average volume of 254,383. La-Z-Boy has a one year low of $27.79 and a one year high of $37.48. The firm has a market cap of $1.49 billion, a P/E ratio of 21.35 and a beta of 0.66. The company has a quick ratio of 1.12, a current ratio of 1.77 and a debt-to-equity ratio of 0.36. The company has a fifty day moving average price of $31.46 and a 200-day moving average price of $32.59.

Several institutional investors have recently bought and sold shares of the stock. Amundi Pioneer Asset Management Inc. raised its stake in La-Z-Boy by 1.7% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 67,799 shares of the company’s stock worth $2,236,000 after acquiring an additional 1,124 shares in the last quarter. Prudential Financial Inc. lifted its holdings in La-Z-Boy by 21.4% during the 2nd quarter. Prudential Financial Inc. now owns 122,503 shares of the company’s stock valued at $3,756,000 after purchasing an additional 21,604 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in La-Z-Boy by 5.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 52,465 shares of the company’s stock valued at $1,609,000 after purchasing an additional 2,877 shares during the last quarter. Bank of Montreal Can boosted its position in La-Z-Boy by 401.4% in the second quarter. Bank of Montreal Can now owns 4,673 shares of the company’s stock valued at $143,000 after buying an additional 3,741 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in La-Z-Boy by 6.0% in the second quarter. Bank of New York Mellon Corp now owns 788,277 shares of the company’s stock valued at $24,169,000 after buying an additional 44,789 shares in the last quarter. Institutional investors and hedge funds own 89.35% 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.

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