3 Stocks To Watch After The Market Closes Today: INTU, LZB, DY
Estimize | Aug 23, 2016 09:12AM ET
Intuit (NASDAQ:INTU): Increasing adoption of cloud based services and products are expected to carry growth moving forward. Moreover a greater focus on the QuickBooks brand will likely pressure near term margin but lead to substantial long term benefits. This includes the recent launch of QuickBooks financing, similar to Square (NYSE:SQ) Capital, which connects lenders and borrowers in a seamless fashion. The biggest concerns now and in the future come from rising competition in specifically from payroll solution providers such as Paycom Soft (NYSE:PAYC) and Automatic Data Processing Inc (NASDAQ:ADP). From a tax perspective, H&R Block (NYSE:HRB) is right there with Intuit in terms of tax preparation services.
La-Z-Boy Incorporated (NYSE:LZB): The furniture company is coming off two significant beats that have sent the stock soaring. Year to date the stock is up 22% and historically has jumped 4% in the 30 days following an earnings report. Continued gains in its wholesale and retail segments should continue to drive sales and margin growth. Meanwhile the broader housing recovery bodes well for the furniture retailer. New furniture is a necessity when purchasing or renovating a home. As Lazy Boy heads opens its fiscal 2017 management is expecting to open 16 new stores, remodel 8 and relocate 3 during the fiscal year.
Dycom Industries Inc (NYSE:DY): Dycom is on course for another outstanding quarter. The company has topped both earnings and sales expectations in 7 of the past 8 quarters. Shares are up 28% year to date and 43% in the past 12 months. Upwards revisions activity and robust growth projections would have you believe tomorrow’s results won’t deviate too far from its norm. Historically, and surprisingly, the stock has responded well to earnings, rising 3% immediately following a report. Tomorrow’s results closes the books on its fiscal 2016 but also sheds light on the company’s fiscal 2017 guidance.
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