Brokerages predict that La-Z-Boy Incorporated (NYSE:LZB) will post sales of $401.23 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for La-Z-Boy’s earnings. The highest sales estimate is $403.58 million and the lowest is $399.70 million. La-Z-Boy reported sales of $389.99 million in the same quarter last year, which would suggest a positive year over year growth rate of 2.9%. The business is expected to report its next quarterly earnings report on Tuesday, February 20th.

On average, analysts expect that La-Z-Boy will report full year sales of $401.23 million for the current year, with estimates ranging from $1.57 billion to $1.58 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.62 billion per share, with estimates ranging from $1.61 billion to $1.63 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover La-Z-Boy.

La-Z-Boy (NYSE:LZB) last released its earnings results on Wednesday, November 29th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.02. The company had revenue of $393.20 million for the quarter, compared to the consensus estimate of $390.03 million. La-Z-Boy had a net margin of 5.53% and a return on equity of 14.33%. La-Z-Boy’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS.

Several analysts have weighed in on LZB shares. ValuEngine raised shares of La-Z-Boy from a “hold” rating to a “buy” rating in a research report on Wednesday, October 25th. KeyCorp reissued a “buy” rating and set a $36.00 target price on shares of La-Z-Boy in a research report on Friday, November 10th. Stifel Nicolaus reissued a “hold” rating on shares of La-Z-Boy in a research report on Friday, December 1st. Finally, Zacks Investment Research raised shares of La-Z-Boy from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $33.00.

In other news, SVP Otis S. Sawyer sold 12,000 shares of the company’s stock in a transaction on Saturday, December 29th. The shares were sold at an average price of $31.51, for a total value of $378,120.00. Following the sale, the senior vice president now directly owns 60,238 shares of the company’s stock, valued at approximately $1,898,099.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $126,840.00. The disclosure for this sale can be found here. 3.17% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in LZB. Schwab Charles Investment Management Inc. boosted its holdings in shares of 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 acquiring an additional 90,965 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of La-Z-Boy by 8.3% in the 2nd quarter. Legal & General Group Plc now owns 96,158 shares of the company’s stock valued at $3,124,000 after acquiring an additional 7,340 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in La-Z-Boy by 55.7% during the second quarter. BNP Paribas Arbitrage SA now owns 19,236 shares of the company’s stock worth $625,000 after buying an additional 6,882 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in La-Z-Boy by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,999 shares of the company’s stock worth $162,000 after buying an additional 747 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in La-Z-Boy by 154.2% during the second quarter. JPMorgan Chase & Co. now owns 472,830 shares of the company’s stock worth $15,367,000 after buying an additional 286,854 shares in the last quarter. 86.37% of the stock is currently owned by institutional investors and hedge funds.

Shares of La-Z-Boy (LZB) opened at $30.95 on Thursday. The firm has a market cap of $1,470.00, a P/E ratio of 17.79 and a beta of 1.03. La-Z-Boy has a 12-month low of $23.15 and a 12-month high of $34.25.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 20th. Stockholders of record on Monday, December 11th were issued a $0.12 dividend. This is an increase from La-Z-Boy’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Friday, December 8th. La-Z-Boy’s dividend payout ratio is 27.59%.

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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.

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