Earnings Estimates Moving Higher for La-Z-Boy (LZB): Time to Buy?

Core Viewpoint - Investors are encouraged to consider La-Z-Boy (LZB) due to improving earnings estimates and positive short-term price momentum [1] Earnings Estimates - Analysts are increasingly optimistic about La-Z-Boy's earnings prospects, leading to higher estimates that are expected to positively impact the stock price [2] - The Zacks Rank system indicates strong agreement among analysts in raising earnings estimates, significantly increasing consensus estimates for the next quarter and full year [3] Current Quarter and Year Estimates - For the current quarter, La-Z-Boy is expected to earn $0.59 per share, reflecting a decrease of 13.2% from the previous year, but the consensus estimate has risen by 5.36% over the last 30 days with no negative revisions [6] - For the full year, the expected earnings are $2.65 per share, a decrease of 9.3% from the prior year, with a similar positive trend in estimate revisions as one estimate has increased without any negative changes [7] Zacks Rank and Performance - La-Z-Boy currently holds a Zacks Rank 1 (Strong Buy), indicating strong potential for outperformance based on favorable estimate revisions [8] - Stocks with Zacks Rank 1 and 2 have historically outperformed the S&P 500, suggesting a positive outlook for La-Z-Boy [8] Stock Performance - La-Z-Boy's stock has increased by 34.8% over the past four weeks due to strong estimate revisions, indicating potential for further upside [9]