Brokerages Anticipate La-Z-Boy Incorporated (LZB) Will Post Quarterly Sales of $401.23 Million

Equities analysts expect that La-Z-Boy Incorporated (NYSE:LZB) will post $401.23 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for La-Z-Boy’s earnings, with the lowest sales estimate coming in at $399.70 million and the highest estimate coming in at $403.58 million. La-Z-Boy posted sales of $389.99 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.9%. The company is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, February 20th.

According to Zacks, 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 year, analysts anticipate that the firm will post sales of $1.62 billion per share, with estimates ranging from $1.61 billion to $1.63 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts 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, beating analysts’ consensus estimates of $0.45 by $0.02. The business had revenue of $393.20 million during 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%. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.42 earnings per share.

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

La-Z-Boy (NYSE:LZB) opened at $32.15 on Friday. The firm has a market cap of $1,490.50, a price-to-earnings ratio of 18.37 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.

In other news, insider John Douglas Collier sold 4,000 shares of La-Z-Boy stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $31.71, for a total value of $126,840.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Otis S. Sawyer sold 12,000 shares of La-Z-Boy stock in a transaction dated Saturday, December 29th. The shares were sold at an average price of $31.51, for a total transaction of $378,120.00. Following the completion of the transaction, the senior vice president now directly owns 60,238 shares of the company’s stock, valued at approximately $1,898,099.38. The disclosure for this sale can be found here. Company insiders own 3.17% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank bought a new position in shares of La-Z-Boy in the 3rd quarter valued at about $135,000. Ameritas Investment Partners Inc. lifted its stake in shares of La-Z-Boy by 7.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,240 shares of the company’s stock worth $138,000 after buying an additional 290 shares during the last quarter. Amalgamated Bank acquired a new stake in shares of La-Z-Boy during the 2nd quarter worth about $217,000. Crossmark Global Holdings Inc. acquired a new stake in shares of La-Z-Boy during the 3rd quarter worth about $254,000. Finally, Suntrust Banks Inc. lifted its stake in shares of La-Z-Boy by 2.2% during the 2nd quarter. Suntrust Banks Inc. now owns 8,419 shares of the company’s stock worth $273,000 after buying an additional 185 shares during the last quarter. 86.35% of the stock is owned by institutional investors.

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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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