La-Z-Boy Incorporated (NYSE:LZB) – Equities research analysts at KeyCorp increased their FY2018 EPS estimates for La-Z-Boy in a research note issued to investors on Wednesday, according to Zacks Investment Research. KeyCorp analyst B. Thomas now forecasts that the company will post earnings per share of $1.87 for the year, up from their previous forecast of $1.75. KeyCorp has a “Buy” rating and a $36.00 price objective on the stock.
Several other analysts have also issued reports on the stock. ValuEngine lowered shares of La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Tuesday. Stifel Nicolaus restated a “hold” rating on shares of La-Z-Boy in a research report on Friday, December 1st. Finally, Zacks Investment Research upgraded shares of La-Z-Boy from a “strong sell” rating to a “hold” rating in a research 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 issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $33.00.
Shares of La-Z-Boy (NYSE LZB) traded up $0.60 during midday trading on Friday, reaching $31.55. 196,100 shares of the company traded hands, compared to its average volume of 247,900. The company has a market capitalization of $1,470.00, a price-to-earnings ratio of 18.13 and a beta of 1.03. La-Z-Boy has a 12 month low of $23.15 and a 12 month high of $34.25.
La-Z-Boy (NYSE:LZB) last released its quarterly earnings data on Wednesday, November 29th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.02. The firm had revenue of $393.20 million during the quarter, compared to analysts’ expectations of $390.03 million. La-Z-Boy had a net margin of 5.53% and a return on equity of 14.33%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.42 earnings per share.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Monday, December 11th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.52%. This is a positive change from La-Z-Boy’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Friday, December 8th. La-Z-Boy’s payout ratio is 27.59%.
In other La-Z-Boy news, SVP Otis S. Sawyer sold 12,000 shares of the company’s stock in a transaction that occurred on Saturday, December 29th. The shares were sold at an average price of $31.51, for a total value of $378,120.00. Following the completion of 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 document filed with the SEC, which is accessible through the SEC website. Also, insider John Douglas Collier sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $31.71, for a total transaction of $126,840.00. The disclosure for this sale can be found here. Insiders own 3.17% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its position in shares of La-Z-Boy by 1.3% in the third quarter. Dimensional Fund Advisors LP now owns 3,055,455 shares of the company’s stock worth $82,192,000 after purchasing an additional 38,806 shares during the period. Northern Trust Corp lifted its holdings in shares of La-Z-Boy by 1.7% in the second quarter. Northern Trust Corp now owns 1,255,701 shares of the company’s stock worth $40,810,000 after buying an additional 20,775 shares in the last quarter. State Street Corp lifted its holdings in shares of La-Z-Boy by 2.9% in the second quarter. State Street Corp now owns 1,249,498 shares of the company’s stock worth $40,609,000 after buying an additional 35,483 shares in the last quarter. Boston Partners lifted its holdings in shares of La-Z-Boy by 39.0% in the third quarter. Boston Partners now owns 1,059,506 shares of the company’s stock worth $28,501,000 after buying an additional 297,244 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of La-Z-Boy by 28.5% in the second quarter. Ameriprise Financial Inc. now owns 634,811 shares of the company’s stock worth $20,633,000 after buying an additional 140,951 shares in the last quarter. Institutional investors and hedge funds own 86.37% 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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