La-Z-Boy Incorporated (NYSE:LZB) will be issuing its quarterly earnings data after the market closes on Tuesday, August 22nd. Analysts expect the company to announce earnings of $0.29 per share for the quarter.

La-Z-Boy (NYSE:LZB) last issued its earnings results on Tuesday, June 20th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.11. La-Z-Boy had a net margin of 5.65% and a return on equity of 14.82%. The business had revenue of $412.70 million during the quarter, compared to analysts’ expectations of $400.25 million. During the same quarter in the prior year, the business posted $0.45 EPS. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, analysts expect La-Z-Boy to post $1.86 EPS for the current fiscal year and $2.08 EPS for the next fiscal year.

La-Z-Boy Incorporated (NYSE LZB) opened at 32.65 on Tuesday. The firm has a market cap of $1.58 billion, a PE ratio of 18.87 and a beta of 0.85. The stock has a 50 day moving average of $32.41 and a 200 day moving average of $28.95. La-Z-Boy Incorporated has a one year low of $22.09 and a one year high of $34.10.

La-Z-Boy announced that its board has initiated a share repurchase plan on Tuesday, June 20th that permits the company to buyback 6,000,000 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

In related news, Chairman Kurt L. Darrow sold 100,000 shares of La-Z-Boy stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $31.52, for a total value of $3,152,000.00. Following the completion of the sale, the chairman now owns 531,773 shares in the company, valued at $16,761,484.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Louis M. Riccio, Jr. sold 37,504 shares of La-Z-Boy stock in a transaction on Monday, June 26th. The stock was sold at an average price of $32.35, for a total transaction of $1,213,254.40. Following the completion of the sale, the vice president now owns 123,354 shares of the company’s stock, valued at approximately $3,990,501.90. The disclosure for this sale can be found here. 3.17% of the stock is currently owned by insiders.

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A number of research firms have recently issued reports on LZB. Sidoti lowered shares of La-Z-Boy from a “buy” rating to a “neutral” rating and set a $36.00 price objective on the stock. in a research note on Tuesday, August 1st. Zacks Investment Research lowered shares of La-Z-Boy from a “buy” rating to a “hold” rating in a research note on Saturday, June 24th. Finally, BidaskClub lowered shares of La-Z-Boy from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $32.50.

About La-Z-Boy

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.

Earnings History for La-Z-Boy (NYSE:LZB)

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