Brokerages expect La-Z-Boy Incorporated (NYSE:LZB) to announce $0.45 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for La-Z-Boy’s earnings. The lowest EPS estimate is $0.44 and the highest is $0.46. La-Z-Boy reported earnings per share of $0.47 in the same quarter last year, which suggests a negative year-over-year growth rate of 4.3%. The business is scheduled to announce its next quarterly earnings results on Tuesday, February 20th.
On average, analysts expect that La-Z-Boy will report full-year earnings of $1.78 per share for the current fiscal year, with EPS estimates ranging from $1.68 to $1.87. For the next year, analysts anticipate that the company will report earnings of $2.18 per share, with EPS estimates ranging from $2.11 to $2.25. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for La-Z-Boy.
La-Z-Boy (NYSE:LZB) last issued its earnings results on Wednesday, November 29th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. La-Z-Boy had a return on equity of 14.33% and a net margin of 5.53%. The company had revenue of $393.20 million for the quarter, compared to analyst estimates of $390.03 million. During the same period in the prior year, the firm earned $0.42 earnings per share. La-Z-Boy’s revenue for the quarter was up 4.4% on a year-over-year basis.
Shares of La-Z-Boy (LZB) traded up $0.10 during trading hours on Tuesday, hitting $31.50. The stock had a trading volume of 295,900 shares, compared to its average volume of 269,140. La-Z-Boy has a one year low of $23.15 and a one year high of $34.25. The firm has a market capitalization of $1,485.77, a price-to-earnings ratio of 18.00 and a beta of 1.03.
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Monday, December 11th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, December 8th. This represents a $0.48 annualized dividend and a yield of 1.52%. This is an increase from La-Z-Boy’s previous quarterly dividend of $0.11. La-Z-Boy’s dividend payout ratio is 27.43%.
In other La-Z-Boy news, SVP Otis S. Sawyer sold 12,000 shares of the company’s stock in a transaction on Saturday, December 29th. The stock was sold at an average price of $31.51, for a total value of $378,120.00. Following the completion of the transaction, the senior vice president now owns 60,238 shares in the company, valued at approximately $1,898,099.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Douglas Collier sold 4,000 shares of the company’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $31.71, for a total value of $126,840.00. The disclosure for this sale can be found here. Corporate insiders own 3.17% of the company’s stock.
A number of large investors have recently made changes to their positions in LZB. Schwab Charles Investment Management Inc. grew its stake in La-Z-Boy by 28.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 408,866 shares of the company’s stock valued at $13,289,000 after purchasing an additional 90,965 shares during the period. Legal & General Group Plc grew its stake in shares of La-Z-Boy by 8.3% during the 2nd quarter. Legal & General Group Plc now owns 96,158 shares of the company’s stock worth $3,124,000 after acquiring an additional 7,340 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of La-Z-Boy by 55.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 19,236 shares of the company’s stock worth $625,000 after acquiring an additional 6,882 shares during the period. Victory Capital Management Inc. grew its stake in shares of La-Z-Boy by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 4,999 shares of the company’s stock worth $162,000 after acquiring an additional 747 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of La-Z-Boy by 154.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 472,830 shares of the company’s stock worth $15,367,000 after acquiring an additional 286,854 shares during the period. Hedge funds and other institutional investors own 86.37% of the company’s stock.
TRADEMARK VIOLATION WARNING: This story was originally posted by BBNS and is the sole property of of BBNS. If you are reading this story on another website, it was illegally copied and reposted in violation of US and international copyright and trademark laws. The original version of this story can be read at https://baseballnewssource.com/markets/la-z-boy-incorporated-lzb-expected-to-post-earnings-of-0-45-per-share/1821179.html.
La-Z-Boy Company Profile
La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes and retails upholstery furniture products. The Company also imports, distributes and retails accessories and casegoods (wood) furniture products. The Company’s segments include the Upholstery segment, the Casegoods segment and the Retail segment.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.