La-Z-Boy Incorporated (NYSE:LZB) – Stock analysts at KeyCorp upped their FY2019 earnings per share estimates for La-Z-Boy in a research note issued to investors on Wednesday. KeyCorp analyst B. Thomas now forecasts that the company will post earnings of $2.25 per share for the year, up from their previous forecast of $1.90. KeyCorp currently has a “Buy” rating and a $36.00 price target on the stock.
A number of other research analysts have also recently commented on the company. ValuEngine upgraded La-Z-Boy from a “hold” rating to a “buy” rating in a report on Wednesday, October 25th. Stifel Nicolaus reiterated a “hold” rating on shares of La-Z-Boy in a report on Friday, December 1st. Finally, Zacks Investment Research upgraded La-Z-Boy from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $33.00.
La-Z-Boy (NYSE LZB) traded down $0.50 on Monday, reaching $30.95. The company had a trading volume of 206,200 shares, compared to its average volume of 255,300. La-Z-Boy has a 12-month low of $23.15 and a 12-month high of $34.25. The firm has a market capitalization of $1,470.00, a PE ratio of 17.79 and a beta of 1.03.
La-Z-Boy (NYSE:LZB) last released its quarterly earnings data 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 firm had revenue of $393.20 million for the quarter, compared to analysts’ expectations of $390.03 million. During the same period in the prior year, the firm posted $0.42 earnings per share. The firm’s quarterly revenue was up 4.4% on a year-over-year basis.
A number of large investors have recently added to or reduced their stakes in LZB. Toronto Dominion Bank acquired a new position in La-Z-Boy during the third quarter worth $135,000. Ameritas Investment Partners Inc. lifted its stake in La-Z-Boy by 7.3% during the second quarter. Ameritas Investment Partners Inc. now owns 4,240 shares of the company’s stock worth $138,000 after purchasing an additional 290 shares in the last quarter. Victory Capital Management Inc. lifted its stake in La-Z-Boy by 17.6% during the second quarter. Victory Capital Management Inc. now owns 4,999 shares of the company’s stock worth $162,000 after purchasing an additional 747 shares in the last quarter. Amalgamated Bank acquired a new position in La-Z-Boy during the second quarter worth $217,000. Finally, Airain ltd acquired a new position in La-Z-Boy during the second quarter worth $244,000. Institutional investors own 86.37% of the company’s stock.
In other La-Z-Boy news, SVP Otis S. Sawyer sold 12,000 shares of the company’s stock in a transaction on Saturday, December 29th. The stock was sold at an average price of $31.51, for a total transaction of $378,120.00. Following the transaction, the senior vice president now directly owns 60,238 shares in the company, valued at $1,898,099.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Douglas Collier sold 4,000 shares of the company’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $31.71, for a total value of $126,840.00. The disclosure for this sale can be found here. 3.17% of the stock is owned by corporate insiders.
The company also recently declared a quarterly dividend, which was paid on Wednesday, December 20th. Shareholders of record on Monday, December 11th were paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.55%. This is a boost from La-Z-Boy’s previous quarterly dividend of $0.11. The ex-dividend date was Friday, December 8th. La-Z-Boy’s dividend payout ratio is 27.59%.
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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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