Brokerages expect that La-Z-Boy Incorporated (NYSE:LZB) will report earnings per share (EPS) of $0.50 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for La-Z-Boy’s earnings, with estimates ranging from $0.44 to $0.55. La-Z-Boy posted earnings per share of $0.52 during the same quarter last year, which would indicate a negative year over year growth rate of 3.8%. The company is expected to report its next quarterly earnings results on Wednesday, November 18th.

On average, analysts expect that La-Z-Boy will report full year earnings of $2.14 per share for the current fiscal year, with EPS estimates ranging from $2.04 to $2.23. For the next fiscal year, analysts forecast that the firm will report earnings of $2.70 per share, with EPS estimates ranging from $2.55 to $2.85. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for La-Z-Boy.

La-Z-Boy (NYSE:LZB) last posted its earnings results on Tuesday, August 18th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.31. The company had revenue of $285.50 million for the quarter, compared to analysts’ expectations of $289.74 million. La-Z-Boy had a return on equity of 12.42% and a net margin of 4.07%. The firm’s quarterly revenue was down 31.0% compared to the same quarter last year. During the same period last year, the business posted $0.42 earnings per share.

LZB has been the topic of a number of recent research reports. Stifel Nicolaus raised their target price on La-Z-Boy from $25.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Raymond James lifted their price objective on shares of La-Z-Boy from $32.00 to $37.00 and gave the company an “outperform” rating in a research note on Thursday, August 20th. KeyCorp restated a “hold” rating on shares of La-Z-Boy in a research note on Wednesday, June 24th. Finally, Zacks Investment Research upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research note on Tuesday, August 25th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. La-Z-Boy currently has a consensus rating of “Hold” and a consensus price target of $34.75.

LZB stock traded up $0.97 during mid-day trading on Tuesday, reaching $35.89. The company had a trading volume of 595,631 shares, compared to its average volume of 357,480. The stock has a market capitalization of $1.65 billion, a P/E ratio of 26.20 and a beta of 1.22. La-Z-Boy has a one year low of $15.61 and a one year high of $37.48. The stock’s 50-day simple moving average is $32.48 and its two-hundred day simple moving average is $27.59.

A number of large investors have recently added to or reduced their stakes in LZB. Amundi Pioneer Asset Management Inc. grew its holdings in La-Z-Boy by 1.7% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 67,799 shares of the company’s stock worth $2,236,000 after acquiring an additional 1,124 shares during the period. JPMorgan Chase & Co. grew its holdings in La-Z-Boy by 24.0% during the first quarter. JPMorgan Chase & Co. now owns 114,699 shares of the company’s stock worth $2,358,000 after acquiring an additional 22,179 shares during the period. US Bancorp DE grew its holdings in La-Z-Boy by 34.0% during the first quarter. US Bancorp DE now owns 16,781 shares of the company’s stock worth $345,000 after acquiring an additional 4,255 shares during the period. BNP Paribas Arbitrage SA grew its holdings in La-Z-Boy by 5.1% during the first quarter. BNP Paribas Arbitrage SA now owns 19,411 shares of the company’s stock worth $399,000 after acquiring an additional 935 shares during the period. Finally, Deutsche Bank AG grew its holdings in La-Z-Boy by 165.7% during the first quarter. Deutsche Bank AG now owns 41,793 shares of the company’s stock worth $859,000 after acquiring an additional 26,065 shares during the period. 90.60% of the stock is currently owned by hedge funds and other institutional investors.

La-Z-Boy Company Profile

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.

Read More: What are the disadvantages of after-hours trading?

Get a free copy of the Zacks research report on La-Z-Boy (LZB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for La-Z-Boy (NYSE:LZB)

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.