La-Z-Boy Incorporated (NYSE:LZB – Get Rating) – Research analysts at KeyCorp issued their Q1 2024 EPS estimates for La-Z-Boy in a research note issued to investors on Wednesday, June 21st. KeyCorp analyst B. Thomas expects that the company will post earnings of $0.54 per share for the quarter. The consensus estimate for La-Z-Boy’s current full-year earnings is $2.80 per share. KeyCorp also issued estimates for La-Z-Boy’s Q4 2024 earnings at $0.90 EPS and FY2025 earnings at $3.15 EPS.
Separately, StockNews.com began coverage on shares of La-Z-Boy in a research report on Thursday, May 18th. They set a “buy” rating on the stock.
La-Z-Boy Trading Up 1.5 %
La-Z-Boy (NYSE:LZB – Get Rating) last issued its quarterly earnings data on Wednesday, June 21st. The company reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.27. La-Z-Boy had a net margin of 6.41% and a return on equity of 18.59%. The business had revenue of $561.29 million during the quarter, compared to analysts’ expectations of $533.03 million. During the same period in the previous year, the company earned $1.07 earnings per share. La-Z-Boy’s revenue for the quarter was down 18.0% on a year-over-year basis.
La-Z-Boy Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Friday, June 2nd were given a dividend of $0.1815 per share. This represents a $0.73 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend was Thursday, June 1st. La-Z-Boy’s dividend payout ratio (DPR) is currently 20.92%.
Institutional Investors Weigh In On La-Z-Boy
Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP increased its holdings in La-Z-Boy by 184.4% in the 1st quarter. Quarry LP now owns 1,018 shares of the company’s stock valued at $30,000 after buying an additional 660 shares during the period. Federated Hermes Inc. increased its holdings in La-Z-Boy by 11,058.3% in the 1st quarter. Federated Hermes Inc. now owns 1,339 shares of the company’s stock valued at $39,000 after buying an additional 1,327 shares during the period. Point72 Middle East FZE bought a new stake in La-Z-Boy in the 4th quarter valued at $80,000. Captrust Financial Advisors increased its holdings in La-Z-Boy by 84.7% in the 1st quarter. Captrust Financial Advisors now owns 3,290 shares of the company’s stock valued at $87,000 after buying an additional 1,509 shares during the period. Finally, State of Wyoming increased its holdings in La-Z-Boy by 406.4% in the 4th quarter. State of Wyoming now owns 4,573 shares of the company’s stock valued at $104,000 after buying an additional 3,670 shares during the period. Institutional investors own 96.61% of the company’s stock.
About La-Z-Boy
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 Wholesale, Retail, Corporate and Other segments. The Wholesale segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans, and sleeper sofas; and imports, distributes, and retails casegoods (wood) furniture, including occasional pieces, bedroom sets, dining room sets, and entertainment centers.
Read More
- Get a free research report on La-Z-Boy from StockNews.com
- MarketBeat Week in Review – 6/19 – 6/23
- CarMax Stock Flying On Earnings Beat, Return Of The Highs?
- Commercial Metals Company Shakes Off The Rust: Confirms Uptrend
- Smith & Wesson, A Timeless Value Play At Decade Lows
- Five stocks we like better than La-Z-Boy
Receive News & Ratings for La-Z-Boy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for La-Z-Boy and related companies with MarketBeat.com's FREE daily email newsletter.
