Equities analysts expect that Leggett & Platt (NYSE:LEG) will announce earnings of $0.61 per share for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Leggett & Platt’s earnings. The lowest EPS estimate is $0.60 and the highest is $0.63. Leggett & Platt posted earnings of $0.64 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 4.7%. The firm is scheduled to announce its next earnings results on Thursday, July 26th.
On average, analysts expect that Leggett & Platt will report full-year earnings of $2.68 per share for the current financial year, with EPS estimates ranging from $2.63 to $2.79. For the next fiscal year, analysts forecast that the business will report earnings of $2.97 per share, with EPS estimates ranging from $2.91 to $3.04. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Leggett & Platt.
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Leggett & Platt (NYSE:LEG) last released its earnings results on Thursday, April 26th. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.02). Leggett & Platt had a return on equity of 27.92% and a net margin of 7.09%. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the company earned $0.62 EPS. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year.
A number of equities research analysts have issued reports on the stock. Gabelli upgraded shares of Leggett & Platt from a “hold” rating to a “buy” rating in a research report on Wednesday, February 7th. Zacks Investment Research upgraded shares of Leggett & Platt from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a report on Wednesday, April 11th. Credit Suisse Group cut their price target on shares of Leggett & Platt from $51.00 to $46.00 and set a “neutral” rating on the stock in a report on Friday, April 27th. ValuEngine downgraded shares of Leggett & Platt from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Finally, SunTrust Banks cut their price target on shares of Leggett & Platt to $48.00 and set a “buy” rating on the stock in a report on Tuesday, May 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $51.67.
LEG stock opened at $41.65 on Monday. Leggett & Platt has a 12-month low of $39.57 and a 12-month high of $53.96. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.85 and a quick ratio of 1.23. The company has a market capitalization of $5.50 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 1.43 and a beta of 0.89.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Stockholders of record on Friday, June 15th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.65%. This is an increase from Leggett & Platt’s previous quarterly dividend of $0.36. Leggett & Platt’s dividend payout ratio (DPR) is currently 58.54%.
In other news, insider Karl G. Glassman sold 10,000 shares of the firm’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $47.41, for a total transaction of $474,100.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.52% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in LEG. Mutual of America Capital Management LLC raised its holdings in Leggett & Platt by 7.0% in the 4th quarter. Mutual of America Capital Management LLC now owns 18,233 shares of the company’s stock worth $870,000 after acquiring an additional 1,186 shares during the period. Advisor Group Inc. raised its holdings in Leggett & Platt by 3.2% in the 4th quarter. Advisor Group Inc. now owns 38,160 shares of the company’s stock worth $1,821,000 after acquiring an additional 1,189 shares during the period. BerganKDV Wealth Management LLC raised its holdings in Leggett & Platt by 8.1% in the 1st quarter. BerganKDV Wealth Management LLC now owns 17,414 shares of the company’s stock worth $772,000 after acquiring an additional 1,306 shares during the period. Amalgamated Bank raised its holdings in Leggett & Platt by 4.8% in the 1st quarter. Amalgamated Bank now owns 29,667 shares of the company’s stock worth $1,316,000 after acquiring an additional 1,371 shares during the period. Finally, Morgan Dempsey Capital Management LLC raised its holdings in Leggett & Platt by 1.8% in the 4th quarter. Morgan Dempsey Capital Management LLC now owns 82,531 shares of the company’s stock worth $3,939,000 after acquiring an additional 1,432 shares during the period. Institutional investors and hedge funds own 76.47% of the company’s stock.
Leggett & Platt Company Profile
Leggett & Platt, Incorporated designs and produces various engineered components and products worldwide. It operates through four segments: Residential Products, Furniture Products, Industrial Products, and Specialized Products. The Residential Products segment offers innersprings, wire forms, and machines to shape wire into various types of springs; industrial sewing/finishing machines, conveyor lines, mattress packaging, and glue-drying equipment, as well as quilting machines; and structural fabrics, carpet cushions, and geo components.
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