Analysts Expect La-Z-Boy Incorporated (NYSE:LZB) to Post $0.55 EPS

Brokerages expect La-Z-Boy Incorporated (NYSE:LZB) to post $0.55 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for La-Z-Boy’s earnings, with the lowest EPS estimate coming in at $0.54 and the highest estimate coming in at $0.55. La-Z-Boy reported earnings per share of $0.48 in the same quarter last year, which would suggest a positive year-over-year growth rate of 14.6%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, November 20th.

According to Zacks, analysts expect that La-Z-Boy will report full year earnings of $2.34 per share for the current year, with EPS estimates ranging from $2.32 to $2.38. For the next year, analysts anticipate that the business will post earnings of $2.56 per share, with EPS estimates ranging from $2.50 to $2.62. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for La-Z-Boy.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings results on Tuesday, August 20th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.09. La-Z-Boy had a return on equity of 15.24% and a net margin of 3.85%. The company had revenue of $413.60 million during the quarter, compared to analyst estimates of $415.95 million. During the same quarter in the previous year, the firm posted $0.39 EPS. The firm’s quarterly revenue was up 7.5% on a year-over-year basis.

LZB has been the subject of a number of analyst reports. Raymond James upgraded La-Z-Boy from a “market perform” rating to an “outperform” rating and set a $36.00 price target for the company in a research report on Friday, August 23rd. ValuEngine upgraded La-Z-Boy from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Finally, Zacks Investment Research upgraded La-Z-Boy from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Saturday, October 26th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $37.00.

LZB stock traded down $0.61 during trading on Tuesday, reaching $36.35. 178,712 shares of the company’s stock were exchanged, compared to its average volume of 343,052. The company has a quick ratio of 1.13, a current ratio of 1.80 and a debt-to-equity ratio of 0.38. La-Z-Boy has a 1-year low of $25.30 and a 1-year high of $37.26. The company’s fifty day moving average price is $34.28 and its 200-day moving average price is $32.58. The firm has a market cap of $1.66 billion, a PE ratio of 16.99 and a beta of 0.75.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its stake in La-Z-Boy by 83.8% during the second quarter. Bank of America Corp DE now owns 346,041 shares of the company’s stock valued at $10,610,000 after purchasing an additional 157,762 shares during the last quarter. NumerixS Investment Technologies Inc boosted its holdings in La-Z-Boy by 46.4% during the second quarter. NumerixS Investment Technologies Inc now owns 4,100 shares of the company’s stock worth $126,000 after buying an additional 1,300 shares in the last quarter. Panagora Asset Management Inc. grew its position in La-Z-Boy by 1.7% in the second quarter. Panagora Asset Management Inc. now owns 411,805 shares of the company’s stock worth $12,626,000 after buying an additional 7,030 shares during the last quarter. Coatue Management LLC acquired a new position in La-Z-Boy in the second quarter worth approximately $1,945,000. Finally, New York State Teachers Retirement System grew its position in La-Z-Boy by 2.0% in the second quarter. New York State Teachers Retirement System now owns 134,968 shares of the company’s stock worth $4,138,000 after buying an additional 2,600 shares during the last quarter. Institutional investors and hedge funds own 90.25% 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.

Further Reading: FAANG Stocks

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.