$0.46 EPS Expected for La-Z-Boy Incorporated (LZB) This Quarter

Analysts forecast that La-Z-Boy Incorporated (NYSE:LZB) will announce earnings per share of $0.46 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for La-Z-Boy’s earnings, with the lowest EPS estimate coming in at $0.42 and the highest estimate coming in at $0.50. La-Z-Boy posted earnings per share of $0.52 in the same quarter last year, which would indicate a negative year over year growth rate of 11.5%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Tuesday, June 20th.

According to Zacks, analysts expect that La-Z-Boy will report full-year earnings of $1.64 per share for the current financial year, with EPS estimates ranging from $1.62 to $1.67. For the next financial year, analysts expect that the company will report earnings of $1.80 per share, with EPS estimates ranging from $1.75 to $1.88. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow La-Z-Boy.

A number of brokerages have issued reports on LZB. Stifel Nicolaus lowered La-Z-Boy from a “buy” rating to a “hold” rating and decreased their price target for the company from $33.00 to $30.00 in a research note on Wednesday, February 22nd. Zacks Investment Research downgraded La-Z-Boy from a “hold” rating to a “sell” rating in a research report on Saturday, February 25th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. La-Z-Boy has an average rating of “Hold” and an average target price of $29.67.

Shares of La-Z-Boy (LZB) remained flat at $27.40 during trading on Wednesday. The company’s stock had a trading volume of 522,241 shares. The stock has a market cap of $1.34 billion, a PE ratio of 17.11 and a beta of 0.89. The stock has a 50 day moving average price of $27.66 and a 200-day moving average price of $28.51. La-Z-Boy has a 52-week low of $22.09 and a 52-week high of $32.90.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be given a dividend of $0.11 per share. The ex-dividend date is Tuesday, May 30th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.61%. La-Z-Boy’s dividend payout ratio (DPR) is presently 27.85%.

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Several large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of La-Z-Boy by 56,782.6% in the first quarter. BlackRock Inc. now owns 6,240,594 shares of the company’s stock worth $168,497,000 after buying an additional 6,229,623 shares during the period. Vanguard Group Inc. increased its stake in shares of La-Z-Boy by 6.6% in the first quarter. Vanguard Group Inc. now owns 4,473,226 shares of the company’s stock worth $120,778,000 after buying an additional 275,811 shares during the period. Wellington Management Group LLP increased its stake in shares of La-Z-Boy by 4.4% in the first quarter. Wellington Management Group LLP now owns 3,208,236 shares of the company’s stock worth $86,622,000 after buying an additional 134,284 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of La-Z-Boy by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,998,385 shares of the company’s stock worth $80,957,000 after buying an additional 55,097 shares during the period. Finally, Silvercrest Asset Management Group LLC increased its stake in shares of La-Z-Boy by 12.2% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 2,370,720 shares of the company’s stock worth $73,611,000 after buying an additional 257,951 shares during the period. Institutional investors own 87.94% of the company’s stock.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “LZB”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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