La-Z-Boy Inc. LZB is expected to post a big charge for its fiscal fourth quarter later today, suggesting a messy first look at its report.
Shares of the furniture-maker traded near a 53-week low Monday, before rebounding somewhat to Tuesday's afternoon level of $24.37, up 3.13 percent.
The pending restructuring charge, mainly for shuttering a North Carolina furniture factory, was advertised in April by the company in the range of $13 million to $15 million, or 15 cents to 17 a share, with most of it expected in the fourth quarter.
"We have low expectations," Barrington analyst Kristine Koerber said in a research note.
Koerber nonetheless rates the stock a Buy, citing recent price weakness and her expectations for continued gains in gross margin, driven by improved product mix and operating efficiencies.
Analysts on average expect adjusted earnings of 32 cents a share, on revenue of $368.12M. Year-earlier earnings were 34 cents a share, on revenue of $359.54 million.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in