La-Z-Boy Incorporated (LZB) Scheduled to Post Quarterly Earnings on Tuesday
La-Z-Boy Incorporated (NYSE:LZB) is scheduled to be announcing its earnings results 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 released its earnings results on Tuesday, June 20th. The company reported $0.57 earnings per share for the quarter, beating the 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 analyst estimates of $400.25 million. During the same quarter in the previous year, the firm earned $0.45 earnings per share. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, analysts expect La-Z-Boy to post $1.86 EPS for the current fiscal year and $2.08 EPS for the next fiscal year.
Shares of La-Z-Boy Incorporated (LZB) opened at 32.65 on Tuesday. The firm’s 50-day moving average is $32.41 and its 200 day moving average is $28.95. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 18.87 and a beta of 0.85. La-Z-Boy Incorporated has a 1-year low of $22.09 and a 1-year high of $34.10.
La-Z-Boy declared that its Board of Directors has approved a share repurchase plan on Tuesday, June 20th that permits the company to repurchase 6,000,000 shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
In other La-Z-Boy news, Chairman Kurt L. Darrow sold 100,000 shares of the stock in a transaction on Thursday, June 22nd. The stock was 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 directly owns 531,773 shares in the company, valued at $16,761,484.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Louis M. Riccio, Jr. sold 37,504 shares of the stock in a transaction on Monday, June 26th. The stock was sold at an average price of $32.35, for a total value of $1,213,254.40. Following the transaction, the vice president now owns 123,354 shares of the company’s stock, valued at $3,990,501.90. The disclosure for this sale can be found here. Corporate insiders own 3.17% of the company’s stock.
A number of research analysts recently commented on the company. BidaskClub lowered La-Z-Boy from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Zacks Investment Research upgraded La-Z-Boy from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Thursday, June 22nd. Finally, Sidoti lowered La-Z-Boy from a “buy” rating to a “neutral” rating and set a $36.00 target price for the company. in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. La-Z-Boy currently has an average rating of “Hold” and a consensus price target 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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