Zacks: Analysts Expect La-Z-Boy Incorporated (LZB) to Announce $0.46 EPS

Wall Street brokerages expect La-Z-Boy Incorporated (NYSE:LZB) to post $0.46 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for La-Z-Boy’s earnings. The lowest EPS estimate is $0.42 and the highest is $0.50. La-Z-Boy posted earnings per share of $0.52 in the same quarter last year, which would indicate a negative year-over-year growth rate of 11.5%. The company is scheduled to announce its next earnings results on Tuesday, June 20th.

On average, analysts expect that La-Z-Boy will report full-year earnings of $1.64 per share for the current financial year, with EPS estimates ranging from $1.62 to $1.67. For the next fiscal year, analysts anticipate that the company will post earnings of $1.80 per share, with EPS estimates ranging from $1.75 to $1.88. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover La-Z-Boy.

La-Z-Boy (NYSE:LZB) last announced its quarterly earnings results on Tuesday, February 21st. The company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. The firm had revenue of $390 million for the quarter, compared to analysts’ expectations of $392.84 million. La-Z-Boy had a net margin of 5.22% and a return on equity of 14.79%. La-Z-Boy’s revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.43 earnings per share.

Several research firms have issued reports on LZB. Zacks Investment Research downgraded La-Z-Boy from a “hold” rating to a “sell” rating in a report on Wednesday, April 12th. Raymond James Financial, Inc. restated a “market perform” rating on shares of La-Z-Boy in a report on Thursday, January 5th. They noted that the move was a valuation call. Finally, Stifel Nicolaus downgraded La-Z-Boy from a “buy” rating to a “hold” rating and cut their price objective for the stock from $33.00 to $30.00 in a report on Wednesday, February 22nd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $29.67.

Hedge funds have recently bought and sold shares of the company. Acrospire Investment Management LLC increased its stake in La-Z-Boy by 103.7% in the third quarter. Acrospire Investment Management LLC now owns 5,500 shares of the company’s stock valued at $135,000 after buying an additional 2,800 shares during the last quarter. Miles Capital Inc. bought a new stake in La-Z-Boy during the fourth quarter valued at about $243,000. Analytic Investors LLC bought a new stake in La-Z-Boy during the third quarter valued at about $213,000. Aperio Group LLC increased its stake in La-Z-Boy by 15.6% in the third quarter. Aperio Group LLC now owns 11,339 shares of the company’s stock valued at $278,000 after buying an additional 1,534 shares during the last quarter. Finally, Bowling Portfolio Management LLC increased its stake in La-Z-Boy by 0.3% in the fourth quarter. Bowling Portfolio Management LLC now owns 11,434 shares of the company’s stock valued at $355,000 after buying an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 87.94% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Zacks: Analysts Expect La-Z-Boy Incorporated (LZB) to Announce $0.46 EPS” was published by BBNS and is the property of of BBNS. If you are accessing this report on another domain, it was copied illegally and republished in violation of U.S. & international trademark & copyright laws. The correct version of this report can be read at https://baseballnewssource.com/markets/zacks-analysts-expect-la-z-boy-incorporated-lzb-to-announce-0-46-eps-updated/652132.html.

Shares of La-Z-Boy (NYSE:LZB) traded up 0.36% on Friday, reaching $28.10. 250,319 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $27.20 and its 200-day moving average price is $27.74. The company has a market capitalization of $1.37 billion, a P/E ratio of 17.55 and a beta of 0.89. La-Z-Boy has a 12 month low of $22.09 and a 12 month high of $32.90.

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.

5 Day Chart for NYSE:LZB

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

Receive News & Ratings for La-Z-Boy Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for La-Z-Boy Incorporated and related companies with our FREE daily email newsletter.

 


Latest News

David Price and Red Sox to Meet Following Rehab Start
David Price and Red Sox to Meet Following Rehab Start
Lack of Offense Leading to Mediocrity for Boston Red Sox
Lack of Offense Leading to Mediocrity for Boston Red Sox
MLB and Facebook Announce Live Streaming for Games
MLB and Facebook Announce Live Streaming for Games
Can Anyway Stop the Houston Astros?
Can Anyway Stop the Houston Astros?
Kevin Pillar Turns from Defense to Offense
Kevin Pillar Turns from Defense to Offense
Chris Iannetta Hit in Face with 93mph Fastball
Chris Iannetta Hit in Face with 93mph Fastball


Leave a Reply

 
© 2006-2017 BBNS.