Zacks: Analysts Anticipate La-Z-Boy Incorporated (NYSE:LZB) Will Post Quarterly Sales of $415.72 Million

Analysts forecast that La-Z-Boy Incorporated (NYSE:LZB) will report $415.72 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for La-Z-Boy’s earnings. The highest sales estimate is $420.10 million and the lowest is $410.36 million. La-Z-Boy reported sales of $384.70 million during the same quarter last year, which indicates a positive year over year growth rate of 8.1%. The company is expected to issue its next quarterly earnings results after the market closes on Tuesday, August 20th.

According to Zacks, analysts expect that La-Z-Boy will report full-year sales of $1.83 billion for the current fiscal year, with estimates ranging from $1.81 billion to $1.84 billion. For the next year, analysts expect that the business will report sales of $1.91 billion, with estimates ranging from $1.91 billion to $1.92 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow La-Z-Boy.

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



LZB has been the subject of a number of recent analyst reports. Sidoti lowered shares of La-Z-Boy from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $38.00 to $35.00 in a report on Thursday, June 6th. Zacks Investment Research upgraded shares of La-Z-Boy from a “sell” rating to a “hold” rating in a report on Thursday. Finally, TheStreet downgraded shares of La-Z-Boy from a “b+” rating to a “c” rating in a research report on Wednesday, June 26th. Four analysts have rated the stock with a hold rating, La-Z-Boy presently has an average rating of “Hold” and an average target price of $36.67.

A number of large investors have recently bought and sold shares of the business. Oregon Public Employees Retirement Fund grew its position in La-Z-Boy by 1.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 18,138 shares of the company’s stock worth $598,000 after purchasing an additional 328 shares during the period. Arizona State Retirement System grew its position in La-Z-Boy by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 72,378 shares of the company’s stock worth $2,219,000 after purchasing an additional 400 shares during the period. Mason Street Advisors LLC grew its position in La-Z-Boy by 3.0% in the 1st quarter. Mason Street Advisors LLC now owns 14,985 shares of the company’s stock worth $494,000 after purchasing an additional 441 shares during the period. Strs Ohio grew its position in La-Z-Boy by 2.1% in the 2nd quarter. Strs Ohio now owns 29,100 shares of the company’s stock worth $892,000 after purchasing an additional 600 shares during the period. Finally, Piedmont Investment Advisors Inc. grew its position in La-Z-Boy by 6.2% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 11,827 shares of the company’s stock worth $390,000 after purchasing an additional 686 shares during the period. 88.13% of the stock is owned by institutional investors and hedge funds.

NYSE LZB traded down $0.04 during mid-day trading on Thursday, reaching $31.40. The stock had a trading volume of 291,500 shares, compared to its average volume of 359,263. La-Z-Boy has a 1 year low of $25.30 and a 1 year high of $39.15. The stock has a market cap of $1.49 billion, a PE ratio of 14.67 and a beta of 0.77. The company has a fifty day moving average price of $31.80 and a 200 day moving average price of $32.42.

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.

See Also: Bollinger Bands

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.