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 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $412.70 million during the quarter, compared to the consensus estimate of $400.25 million. During the same quarter in the prior year, the firm earned $0.45 earnings per share. The business’s quarterly revenue was down 1.0% on a year-over-year basis. On average, analysts expect La-Z-Boy to post $1.84 EPS for the current fiscal year and $2.06 EPS for the next fiscal year.
Shares of La-Z-Boy Incorporated (LZB) opened at 31.05 on Friday. The firm has a 50-day moving average of $32.33 and a 200 day moving average of $29.03. La-Z-Boy Incorporated has a 52 week low of $22.09 and a 52 week high of $34.10. The company has a market cap of $1.50 billion, a P/E ratio of 17.95 and a beta of 0.85.
La-Z-Boy announced that its board has approved a stock repurchase program on Tuesday, June 20th that allows the company to buyback 6,000,000 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
In other La-Z-Boy news, Chairman Kurt L. Darrow sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $31.52, for a total transaction of $3,152,000.00. Following the completion of the transaction, the chairman now owns 531,773 shares in the company, valued at approximately $16,761,484.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Louis M. Riccio, Jr. sold 37,504 shares of the firm’s stock in a transaction that occurred 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 transaction, 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 company insiders.
Several equities research analysts recently commented on LZB shares. Zacks Investment Research upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Thursday, June 22nd. BidaskClub lowered shares of La-Z-Boy from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Finally, Sidoti lowered shares of La-Z-Boy from a “buy” rating to a “neutral” rating and set a $36.00 price target for the company. in a report on Tuesday, August 1st. One research 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. La-Z-Boy currently has a consensus rating of “Hold” and an average target price of $32.50.
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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.
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