Analysts Anticipate La-Z-Boy Incorporated (NYSE:LZB) Will Post Earnings of $0.33 Per Share

Equities analysts forecast that La-Z-Boy Incorporated (NYSE:LZB) will announce earnings of $0.33 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for La-Z-Boy’s earnings. The lowest EPS estimate is $0.32 and the highest is $0.34. La-Z-Boy reported earnings of $0.39 per share in the same quarter last year, which indicates a negative year over year growth rate of 15.4%. The company is scheduled to report its next quarterly earnings report after the market closes on Tuesday, August 20th.

According to Zacks, analysts expect that La-Z-Boy will report full-year earnings of $2.23 per share for the current fiscal year, with EPS estimates ranging from $2.20 to $2.27. For the next year, analysts anticipate that the company will post earnings of $2.46 per share, with EPS estimates ranging from $2.45 to $2.46. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow La-Z-Boy.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings results on Tuesday, June 18th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.01). La-Z-Boy had a net margin of 3.93% and a return on equity of 15.33%. The company had revenue of $453.79 million for the quarter, compared to analysts’ expectations of $457.13 million. During the same quarter in the prior year, the firm earned $0.72 EPS. La-Z-Boy’s quarterly revenue was up 8.0% compared to the same quarter last year.



A number of brokerages have weighed in on LZB. Sidoti cut shares of La-Z-Boy from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $38.00 to $35.00 in a report on Thursday, June 6th. TheStreet cut shares of La-Z-Boy from a “b+” rating to a “c” rating in a report on Wednesday, June 26th. Finally, Zacks Investment Research cut shares of La-Z-Boy from a “hold” rating to a “sell” rating in a report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the company. The company has an average rating of “Hold” and an average target price of $36.67.

LZB traded up $0.72 during midday trading on Tuesday, reaching $32.41. The company’s stock had a trading volume of 222,800 shares, compared to its average volume of 360,770. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 15.14 and a beta of 0.77. La-Z-Boy has a 1 year low of $25.30 and a 1 year high of $39.15. The company’s 50-day simple moving average is $31.75.

A number of institutional investors and hedge funds have recently made changes to their positions in LZB. NumerixS Investment Technologies Inc increased its stake in shares of La-Z-Boy by 46.4% in the second quarter. NumerixS Investment Technologies Inc now owns 4,100 shares of the company’s stock worth $126,000 after purchasing an additional 1,300 shares in the last quarter. APG Asset Management N.V. grew its stake in La-Z-Boy by 69.1% during the second quarter. APG Asset Management N.V. now owns 89,300 shares of the company’s stock valued at $2,404,000 after acquiring an additional 36,500 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC grew its stake in La-Z-Boy by 100.3% during the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 154,990 shares of the company’s stock valued at $4,752,000 after acquiring an additional 77,600 shares in the last quarter. Northern Trust Corp grew its stake in La-Z-Boy by 1.0% during the second quarter. Northern Trust Corp now owns 1,258,790 shares of the company’s stock valued at $38,594,000 after acquiring an additional 13,000 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in La-Z-Boy by 398.7% during the second quarter. Renaissance Technologies LLC now owns 221,900 shares of the company’s stock valued at $6,803,000 after acquiring an additional 177,400 shares in the last quarter. Institutional investors and hedge funds own 88.13% of the company’s stock.

La-Z-Boy Company Profile

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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