Analysts offer forecast for La-Z-Boy Incorporated’s earnings in the second quarter of 2023 (NYSE: LZB)

La-Z-Boy Incorporated (NYSE:LZB – Get Rating) – KeyCorp research analysts released their second quarter 2023 earnings estimates for La-Z-Boy shares in a note to investors on Wednesday, June 22 . KeyCorp analyst B. Thomas expects the company to post earnings per share of $0.85 for the quarter. La-Z-Boy’s current annual earnings consensus estimate is $3.36 per share. KeyCorp also released La-Z-Boy earnings estimates for fiscal year 2023 at $2.95 EPS.

Other research analysts have also recently published reports on the stock. TheStreet downgraded shares of La-Z-Boy from a “b” rating to a “c+” rating in a Friday, March 4 research report. StockNews.com upgraded shares of La-Z-Boy from a “hold” rating to a “buy” rating in a Wednesday, May 11 report.

Shares of LZB opened at $24.24 on Friday. The company has a market capitalization of $1.04 billion, a price-earnings ratio of 7.11 and a beta of 0.99. La-Z-Boy has a 52-week minimum of $22.21 and a 52-week maximum of $39.99. The company’s 50-day moving average is $25.64 and its 200-day moving average is $29.93.

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The company also recently announced a quarterly dividend, which was paid on Wednesday, June 15. Investors of record on Thursday, June 2 received a dividend of $0.165. The ex-dividend date was Wednesday, June 1. This represents an annualized dividend of $0.66 and a dividend yield of 2.72%. La-Z-Boy’s dividend payout ratio is currently 19.35%.

Hedge funds and other institutional investors have recently been buying and selling shares of the company. Marshall Wace LLP acquired a new stake in La-Z-Boy in Q3 worth approximately $276,000. Eaton Vance Management increased its position in La-Z-Boy by 8.3% in the third quarter. Eaton Vance Management now owns 5,257 shares of the company worth $128,000 after buying 404 more shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in La-Z-Boy in Q3 worth $1,470,000. UBS Group AG increased its holding in La-Z-Boy shares by 25.0% during the third quarter. UBS Group AG now owns 113,469 shares of the company worth $3,657,000 after acquiring an additional 22,677 shares during the period. Finally, Two Sigma Investments LP increased its equity stake in La-Z-Boy by 74.0% during Q3. Two Sigma Investments LP now owns 130,319 shares of the company worth $4,200,000 after acquiring an additional 55,417 shares during the period. 96.00% of the shares are currently held by institutional investors and hedge funds.

About La-Z-Boy (Get a rating)

La-Z-Boy Incorporated manufactures, markets, imports, exports, distributes and retails upholstered furniture products, accessories and furniture products in the United States, Canada and abroad. It operates through wholesale and retail segments. The Wholesale segment manufactures and imports upholstered furniture, such as recliners and movable furniture, sofas, loveseats, chairs, sectionals, sectionals, ottomans and sofa beds; and imports, distributes and retails (wooden) storage furniture, including occasional pieces, bedroom sets, dining room sets and entertainment centers.

Further reading

Earnings history and estimates for La-Z-Boy (NYSE:LZB)

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