Sidoti Issues Negative Forecast for La-Z-Boy Earnings

La-Z-Boy Incorporated (NYSE:LZB) – Stock analysts at Sidoti dropped their Q3 2027 EPS estimates for shares of La-Z-Boy in a research note issued on Wednesday, November 11th. Sidoti analyst A. Lebiedzinski now forecasts that the company will post earnings per share of $0.54 for the quarter, down from their prior estimate of $0.59. The consensus estimate for La-Z-Boy’s current full-year earnings is $2.53 per share. Sidoti also issued estimates for La-Z-Boy’s FY2027 earnings at $2.50 EPS.

La-Z-Boy (NYSE:LZB) last posted its quarterly earnings data on Tuesday, August 18th. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.06). La-Z-Boy had a return on equity of 11.79% and a net margin of 3.86%. The firm had revenue of $475.69 million during the quarter, compared to analyst estimates of $501.44 million. During the same quarter in the previous year, the firm posted $0.47 earnings per share. The company’s quarterly revenue was down 3.4% on a year-over-year basis.

A number of other brokerages have also issued reports on LZB. Zacks Research raised La-Z-Boy from a “strong sell” rating to a “hold” rating in a research note on Monday, October 19th. Weiss Ratings downgraded La-Z-Boy from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Wall Street Zen downgraded La-Z-Boy from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, KeyCorp decreased their price objective on La-Z-Boy from $46.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, August 20th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, La-Z-Boy currently has an average rating of “Moderate Buy” and a consensus target price of $39.50.

La-Z-Boy Price Performance

NYSE LZB opened at $32.97 on Thursday. The company has a market cap of $1.32 billion, a PE ratio of 10.85, a price-to-earnings-growth ratio of 1.18 and a beta of 1.25. The stock’s 50 day simple moving average is $30.46 and its 200-day simple moving average is $35.09. La-Z-Boy has a 1-year low of $28.39 and a 1-year high of $44.90.

La-Z-Boy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Thursday, September 3rd were issued a $0.2420 dividend. The ex-dividend date was Thursday, September 3rd. This represents a $0.97 dividend on an annualized basis and a yield of 2.9%. La-Z-Boy’s dividend payout ratio is presently 49.24%.

Insider Transactions at La-Z-Boy

In other news, insider Robert Sundy, II sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $30.85, for a total transaction of $154,250.00. Following the transaction, the insider directly owned 59,297 shares in the company, valued at $1,829,312.45. The trade was a 7.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Janet Kerr sold 3,653 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $31.75, for a total value of $115,982.75. Following the completion of the sale, the director owned 4,125 shares of the company’s stock, valued at $130,968.75. This trade represents a 46.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.12% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On La-Z-Boy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. acquired a new position in La-Z-Boy during the third quarter worth $20,627,000. GW&K Investment Management LLC grew its holdings in La-Z-Boy by 2.5% in the 3rd quarter. GW&K Investment Management LLC now owns 377,075 shares of the company’s stock valued at $11,177,000 after buying an additional 9,090 shares in the last quarter. Meeder Asset Management Inc. increased its stake in shares of La-Z-Boy by 26.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 4,622 shares of the company’s stock worth $137,000 after acquiring an additional 969 shares during the last quarter. Landscape Capital Management L.L.C. increased its stake in shares of La-Z-Boy by 478.3% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 215,498 shares of the company’s stock worth $6,387,000 after acquiring an additional 178,234 shares during the last quarter. Finally, Global Retirement Partners LLC increased its stake in shares of La-Z-Boy by 42,500.0% in the 3rd quarter. Global Retirement Partners LLC now owns 5,538 shares of the company’s stock worth $164,000 after acquiring an additional 5,525 shares during the last quarter. Institutional investors and hedge funds own 99.62% of the company’s stock.

La-Z-Boy Company Profile

La-Z-Boy Incorporated designs, manufactures, markets and sells residential furniture, including recliners, sofas, chairs and other upholstered products, as well as selected casegoods such as bedroom and dining furniture. Its brands include La-Z-Boy, Joybird, England, Kincaid and American Drew. Founded in 1927 by cousins Edwin Shoemaker and Edward Knabusch, the company grew from their development of an early reclining chair. La-Z-Boy is headquartered in Monroe, Michigan, and sells its products through company-operated stores, independent retailers and online channels, primarily serving customers in North America.