La-Z-Boy Inc. (LZB) will report its fiscal 2012 fourth-quarter and year-end operating results after the close of trading on the New York Stock Exchange on Tuesday, June 19, 2012, with the conference call to be held the morning after.
LZB is expected to earn $0.26 for the quarter. Top Equity News expects the home furnishings chain to report earnings that will beat Wall Street’s expectations. TEN’s estimate is 27 cents – a 1 cent upside surprise.
La-Z-Boy’s price has been anything but lazy in the days surrounding earnings. Eight of its last 16 quarterly profit checkups have seen the stock price move by more than 20%, with 100% of the monster moves on the plus side. In total, 11 of the 16 price swings have moved the pendulum in investors’ favor.
The other three gains were 3.4%, 9.8%, and 12.2%. The five loses in largest to smallest are 13.2%, 11.8%, 7.5%, 1.7%, and 1.6%. Cleary, LZB favors the bullish side of earnings.
In the last 30 days, four La-Z-Boy peers have come to the street with their profit numbers, and all four witnessed price decay, mostly in the 3%-4% loss range.
La-Z’s stock has been on a hard downtrend, shaving off nearly 20% since the start of May. There looks to be some decent support around $12.50, which is about as low as TEN’s thinks LZB will fall prior to Tuesday.
With a good, solid news announcement and energetic, forward guidance, Top Equity believes the stock could reverse up to $13.80ish, with a little luck $14.50. Perhaps, the July 12.50 call options could make for a good trade, as well.
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