FY2018 EPS Estimates for La-Z-Boy Incorporated Raised by Analyst (LZB)
La-Z-Boy Incorporated (NYSE:LZB) – KeyCorp raised their FY2018 earnings per share (EPS) estimates for shares of La-Z-Boy in a note issued to investors on Thursday. KeyCorp analyst B. Thomas now expects that the company will post earnings per share of $1.75 for the year, up from their prior forecast of $1.73. KeyCorp currently has a “Buy” rating and a $36.00 target price on the stock. KeyCorp also issued estimates for La-Z-Boy’s Q4 2018 earnings at $0.59 EPS.
La-Z-Boy (NYSE:LZB) last announced its earnings results on Wednesday, November 29th. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $393.20 million during the quarter, compared to analysts’ expectations of $390.03 million. During the same period last year, the business posted $0.42 EPS. La-Z-Boy’s revenue for the quarter was up 4.4% on a year-over-year basis.
A number of other equities analysts have also recently commented on LZB. ValuEngine upgraded La-Z-Boy from a “hold” rating to a “buy” rating in a report on Thursday, November 30th. Stifel Nicolaus restated a “hold” rating on shares of La-Z-Boy in a report on Friday. Zacks Investment Research upgraded La-Z-Boy from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 25th. Finally, BidaskClub cut La-Z-Boy from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $33.00.
Shares of La-Z-Boy (NYSE LZB) traded down $1.35 during trading on Monday, reaching $32.20. The company had a trading volume of 711,207 shares, compared to its average volume of 465,325. La-Z-Boy has a 12 month low of $23.15 and a 12 month high of $34.25. The stock has a market cap of $1,563.84, a PE ratio of 18.89 and a beta of 1.03.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Monday, December 11th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.49%. This is a boost from La-Z-Boy’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Friday, December 8th. La-Z-Boy’s dividend payout ratio (DPR) is 25.14%.
A number of institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System boosted its stake in shares of La-Z-Boy by 0.4% in the 2nd quarter. Arizona State Retirement System now owns 25,485 shares of the company’s stock valued at $828,000 after buying an additional 100 shares during the period. Suntrust Banks Inc. boosted its stake in shares of La-Z-Boy by 2.2% in the 2nd quarter. Suntrust Banks Inc. now owns 8,419 shares of the company’s stock valued at $273,000 after buying an additional 185 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of La-Z-Boy by 0.5% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 37,123 shares of the company’s stock valued at $1,206,000 after buying an additional 200 shares during the period. Ameritas Investment Partners Inc. boosted its stake in shares of La-Z-Boy by 7.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,240 shares of the company’s stock valued at $138,000 after buying an additional 290 shares during the period. Finally, Texas Permanent School Fund boosted its stake in shares of La-Z-Boy by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 35,642 shares of the company’s stock valued at $1,158,000 after buying an additional 297 shares during the period. Institutional investors own 84.25% of the company’s stock.
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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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