La-Z-Boy Incorporated (NYSE:LZB) – Equities research analysts at KeyCorp cut their FY2019 earnings per share (EPS) estimates for La-Z-Boy in a research report issued to clients and investors on Wednesday, October 24th. KeyCorp analyst B. Thomas now forecasts that the company will post earnings per share of $1.97 for the year, down from their previous estimate of $2.10.
LZB has been the subject of several other reports. ValuEngine lowered La-Z-Boy from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Zacks Investment Research lowered La-Z-Boy from a “hold” rating to a “sell” rating in a report on Thursday, October 25th. Finally, Stifel Nicolaus upped their target price on La-Z-Boy from $33.00 to $35.00 and gave the company a “hold” rating in a report on Thursday, August 23rd.
La-Z-Boy (NYSE:LZB) last announced its quarterly earnings data on Tuesday, August 21st. The company reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.14. The firm had revenue of $384.70 million during the quarter, compared to analyst estimates of $368.17 million. La-Z-Boy had a return on equity of 15.33% and a net margin of 5.43%. La-Z-Boy’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 earnings per share.
In other news, insider Otis S. Sawyer sold 88,806 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $34.62, for a total transaction of $3,074,463.72. Following the completion of the transaction, the insider now directly owns 71,324 shares of the company’s stock, valued at $2,469,236.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Kurt L. Darrow sold 45,720 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $34.66, for a total value of $1,584,655.20. Following the transaction, the chairman now directly owns 549,302 shares of the company’s stock, valued at $19,038,807.32. The disclosure for this sale can be found here. Insiders have sold 217,635 shares of company stock valued at $7,417,668 over the last ninety days. Corporate insiders own 4.55% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Bruderman Asset Management LLC acquired a new position in shares of La-Z-Boy during the second quarter worth approximately $115,000. Meeder Asset Management Inc. boosted its position in shares of La-Z-Boy by 96.2% during the second quarter. Meeder Asset Management Inc. now owns 4,021 shares of the company’s stock worth $123,000 after buying an additional 1,972 shares during the period. Cozad Asset Management Inc. acquired a new position in shares of La-Z-Boy during the second quarter worth approximately $214,000. NumerixS Investment Technologies Inc boosted its position in shares of La-Z-Boy by 46.4% during the second quarter. NumerixS Investment Technologies Inc now owns 7,259 shares of the company’s stock worth $224,000 after buying an additional 2,300 shares during the period. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of La-Z-Boy during the second quarter worth approximately $249,000. 90.87% of the stock is owned by institutional investors.
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: Stock Selection – What is cash flow?
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.