Somewhat Positive Press Coverage Somewhat Unlikely to Affect La-Z-Boy (LZB) Stock Price
News stories about La-Z-Boy (NYSE:LZB) have been trending somewhat positive recently, Accern Sentiment reports. The research firm identifies positive and negative news coverage by reviewing more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. La-Z-Boy earned a news impact score of 0.04 on Accern’s scale. Accern also gave news articles about the company an impact score of 47.3368417834352 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
A number of analysts recently commented on the company. Sidoti cut La-Z-Boy from a “buy” rating to a “neutral” rating and set a $36.00 price objective for the company. in a research report on Tuesday, August 1st. Stifel Nicolaus dropped their price objective on La-Z-Boy from $30.00 to $27.00 and set a “hold” rating for the company in a research report on Thursday, August 24th. BidaskClub cut La-Z-Boy from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Finally, Zacks Investment Research cut La-Z-Boy from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $31.75.
La-Z-Boy (NYSE:LZB) remained flat at $24.55 during mid-day trading on Monday. 402,981 shares of the stock were exchanged. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 14.50 and a beta of 0.88. La-Z-Boy has a 12-month low of $22.09 and a 12-month high of $34.10. The stock’s 50-day moving average is $29.51 and its 200-day moving average is $28.65.
La-Z-Boy (NYSE:LZB) last posted its quarterly earnings results on Tuesday, August 22nd. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.29 by $0.05. The business had revenue of $357.10 million for the quarter, compared to analyst estimates of $359.34 million. La-Z-Boy had a net margin of 5.45% and a return on equity of 14.18%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.28 earnings per share. On average, analysts anticipate that La-Z-Boy will post $1.73 earnings per share for the current year.
La-Z-Boy declared that its board has authorized a stock repurchase plan on Tuesday, June 20th that allows the company to buyback 6,000,000 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 8th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Thursday, September 7th. La-Z-Boy’s payout ratio is 25.88%.
In other La-Z-Boy news, VP Louis M. Riccio, Jr. sold 37,504 shares of the company’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $32.35, for a total value of $1,213,254.40. Following the transaction, the vice president now directly owns 123,354 shares of the company’s stock, valued at approximately $3,990,501.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Kurt L. Darrow sold 100,000 shares of the company’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $31.52, for a total value of $3,152,000.00. Following the completion of the transaction, the chairman now directly owns 531,773 shares in the company, valued at $16,761,484.96. The disclosure for this sale can be found here. 3.17% of the stock is currently owned by insiders.
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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