$367.09 Million in Sales Expected for La-Z-Boy Incorporated (LZB) This Quarter

Equities research analysts predict that La-Z-Boy Incorporated (NYSE:LZB) will announce $367.09 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for La-Z-Boy’s earnings. The lowest sales estimate is $359.50 million and the highest is $371.40 million. La-Z-Boy reported sales of $357.08 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.8%. The company is expected to announce its next quarterly earnings report after the market closes on Tuesday, August 21st.

According to Zacks, analysts expect that La-Z-Boy will report full year sales of $1.64 billion for the current financial year, with estimates ranging from $1.61 billion to $1.66 billion. For the next financial year, analysts forecast that the business will post sales of $1.71 billion per share, with estimates ranging from $1.67 billion to $1.75 billion. Zacks’ sales averages are an average based on a survey of research firms that cover La-Z-Boy.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings data on Tuesday, June 19th. The company reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.08. The firm had revenue of $420.00 million during the quarter, compared to analyst estimates of $427.43 million. La-Z-Boy had a return on equity of 14.38% and a net margin of 5.11%. The company’s revenue was up 1.8% on a year-over-year basis. During the same period last year, the company earned $0.57 earnings per share.



LZB has been the subject of a number of research reports. ValuEngine lowered La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. Zacks Investment Research lowered La-Z-Boy from a “hold” rating to a “strong sell” rating in a research report on Saturday, June 23rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $32.67.

LZB stock traded up $0.20 during midday trading on Friday, reaching $31.05. The stock had a trading volume of 202,873 shares, compared to its average volume of 355,105. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 17.15 and a beta of 0.94. La-Z-Boy has a twelve month low of $23.15 and a twelve month high of $34.25.

Several institutional investors have recently bought and sold shares of LZB. MetLife Investment Advisors LLC acquired a new position in shares of La-Z-Boy during the 4th quarter worth about $676,000. Rhumbline Advisers grew its position in shares of La-Z-Boy by 1.4% during the 1st quarter. Rhumbline Advisers now owns 135,716 shares of the company’s stock worth $4,065,000 after buying an additional 1,838 shares during the period. Algert Global LLC grew its position in shares of La-Z-Boy by 14.4% during the 1st quarter. Algert Global LLC now owns 97,897 shares of the company’s stock worth $2,932,000 after buying an additional 12,297 shares during the period. SG Americas Securities LLC grew its position in shares of La-Z-Boy by 64.1% during the 1st quarter. SG Americas Securities LLC now owns 16,178 shares of the company’s stock worth $485,000 after buying an additional 6,321 shares during the period. Finally, Prudential Financial Inc. grew its position in shares of La-Z-Boy by 37.5% during the 1st quarter. Prudential Financial Inc. now owns 598,540 shares of the company’s stock worth $17,926,000 after buying an additional 163,260 shares during the period. Institutional investors own 87.05% 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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Earnings History and Estimates for La-Z-Boy (NYSE:LZB)

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