La-Z-Boy Incorporated (NYSE:LZB) – Equities researchers at KeyCorp boosted their Q2 2020 EPS estimates for shares of La-Z-Boy in a report released on Wednesday, August 21st, according to Zacks Investment Research. KeyCorp analyst B. Thomas now forecasts that the company will post earnings per share of $0.55 for the quarter, up from their previous estimate of $0.52. KeyCorp also issued estimates for La-Z-Boy’s Q3 2020 earnings at $0.65 EPS, Q4 2020 earnings at $0.68 EPS, FY2020 earnings at $2.32 EPS and FY2021 earnings at $2.50 EPS.
Several other equities research analysts have also issued reports on LZB. Zacks Investment Research raised shares of La-Z-Boy from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Saturday, August 24th. TheStreet lowered shares of La-Z-Boy from a “b+” rating to a “c” rating in a report on Wednesday, June 26th. Raymond James raised shares of La-Z-Boy from a “market perform” rating to an “outperform” rating and set a $36.00 target price on the stock in a report on Friday, August 23rd. Finally, Sidoti lowered shares of La-Z-Boy from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $38.00 to $35.00 in a report on Thursday, June 6th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $35.33.
Shares of La-Z-Boy stock opened at $31.77 on Friday. The firm has a market capitalization of $1.42 billion, a PE ratio of 14.04 and a beta of 0.77. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.80 and a quick ratio of 1.13. The company’s fifty day moving average price is $31.87 and its two-hundred day moving average price is $32.49. La-Z-Boy has a 52-week low of $25.30 and a 52-week high of $36.63.
La-Z-Boy (NYSE:LZB) last announced its quarterly earnings results on Tuesday, August 20th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.09. The firm had revenue of $413.60 million for the quarter, compared to analyst estimates of $415.95 million. La-Z-Boy had a net margin of 3.85% and a return on equity of 15.24%. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.39 EPS.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, September 6th will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.52 annualized dividend and a yield of 1.64%. La-Z-Boy’s dividend payout ratio (DPR) is 24.30%.
A number of hedge funds and other institutional investors have recently modified their holdings of LZB. Nuveen Asset Management LLC lifted its position in La-Z-Boy by 32.6% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,580,674 shares of the company’s stock worth $48,463,000 after buying an additional 388,563 shares in the last quarter. Citadel Advisors LLC lifted its position in La-Z-Boy by 205.4% during the 2nd quarter. Citadel Advisors LLC now owns 303,654 shares of the company’s stock valued at $9,311,000 after purchasing an additional 204,235 shares during the period. Renaissance Technologies LLC lifted its position in La-Z-Boy by 398.7% during the 2nd quarter. Renaissance Technologies LLC now owns 221,900 shares of the company’s stock valued at $6,803,000 after purchasing an additional 177,400 shares during the period. Bank of America Corp DE lifted its position in La-Z-Boy by 83.8% during the 2nd quarter. Bank of America Corp DE now owns 346,041 shares of the company’s stock valued at $10,610,000 after purchasing an additional 157,762 shares during the period. Finally, Morgan Stanley lifted its position in La-Z-Boy by 193.4% during the 2nd quarter. Morgan Stanley now owns 211,867 shares of the company’s stock valued at $6,496,000 after purchasing an additional 139,663 shares during the period. Institutional investors and hedge funds own 86.74% of the company’s stock.
La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes, and retails upholstery furniture products, accessories, and casegoods furniture products in the United States, Canada, and internationally. It operates through Upholstery, Casegoods, and Retail segments. The Upholstery segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas.