$401.23 Million in Sales Expected for La-Z-Boy Incorporated (LZB) This Quarter

Equities research analysts predict that La-Z-Boy Incorporated (NYSE:LZB) will post sales of $401.23 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for La-Z-Boy’s earnings. The lowest sales estimate is $399.70 million and the highest is $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 firm is expected to report its next quarterly earnings report after the market closes on Tuesday, February 20th.

On average, analysts expect that La-Z-Boy will report full year sales of $401.23 million for the current fiscal year, with estimates ranging from $1.57 billion to $1.58 billion. For the next year, analysts forecast that the business will report sales of $1.62 billion per share, with estimates ranging from $1.61 billion to $1.63 billion. Zacks’ sales averages are an average based on a survey of analysts that follow La-Z-Boy.

La-Z-Boy (NYSE:LZB) last released its quarterly earnings results on Wednesday, November 29th. The company reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 business had revenue of $393.20 million during the quarter, compared to analysts’ expectations of $390.03 million. During the same quarter in the prior year, the business earned $0.42 earnings per share. The company’s quarterly revenue was up 4.4% compared to the same quarter last year.

LZB has been the subject of several research analyst reports. ValuEngine upgraded La-Z-Boy from a “hold” rating to a “buy” rating in a research report on Wednesday, October 25th. KeyCorp reiterated a “buy” rating and issued a $36.00 price objective on shares of La-Z-Boy in a research report on Friday, November 10th. Zacks Investment Research upgraded La-Z-Boy from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research report on Wednesday, January 31st. Finally, Stifel Nicolaus reiterated a “hold” rating on shares of La-Z-Boy in a research report on Friday, December 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $33.50.

Shares of La-Z-Boy (LZB) opened at $28.75 on Wednesday. The company has a market capitalization of $1,370.00, a P/E ratio of 16.61 and a beta of 0.89. La-Z-Boy has a 52 week low of $23.15 and a 52 week high of $34.25.

In other La-Z-Boy news, insider John Douglas Collier sold 4,000 shares of the stock in a transaction on Friday, December 29th. The stock was sold at an average price of $31.71, for a total value of $126,840.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Otis S. Sawyer sold 12,000 shares of the stock in a transaction on Friday, 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 of the company’s stock, valued at approximately $1,898,099.38. The disclosure for this sale can be found here. Corporate insiders own 3.17% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank acquired a new stake in La-Z-Boy in the third quarter valued at $135,000. Ameritas Investment Partners Inc. grew its holdings in La-Z-Boy by 7.3% in the second quarter. Ameritas Investment Partners Inc. now owns 4,240 shares of the company’s stock valued at $138,000 after purchasing an additional 290 shares during the last quarter. Amalgamated Bank acquired a new stake in La-Z-Boy in the fourth quarter valued at $218,000. Crossmark Global Holdings Inc. acquired a new stake in La-Z-Boy in the third quarter valued at $254,000. Finally, Invictus RG acquired a new stake in La-Z-Boy in the fourth quarter valued at $265,000. 86.42% of the stock is currently 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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