Equities research analysts predict that Leggett & Platt, Inc. (NYSE:LEG) will report earnings per share of $0.57 for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Leggett & Platt’s earnings, with estimates ranging from $0.56 to $0.58. Leggett & Platt posted earnings per share of $0.59 during the same quarter last year, which would suggest a negative year over year growth rate of 3.4%. The business is scheduled to announce its next quarterly earnings report on Monday, February 4th.
On average, analysts expect that Leggett & Platt will report full year earnings of $2.44 per share for the current financial year, with EPS estimates ranging from $2.43 to $2.45. For the next year, analysts forecast that the business will post earnings of $2.67 per share, with EPS estimates ranging from $2.55 to $2.80. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Leggett & Platt.
Leggett & Platt (NYSE:LEG) last announced its quarterly earnings results on Thursday, October 25th. The company reported $0.67 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.05). Leggett & Platt had a net margin of 6.87% and a return on equity of 28.37%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.10 billion.
LEG has been the topic of several research analyst reports. TheStreet cut Leggett & Platt from a “b-” rating to a “c+” rating in a research note on Friday, October 26th. ValuEngine lowered Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Zacks Investment Research upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Monday, October 1st. Raymond James cut Leggett & Platt from a “strong-buy” rating to an “outperform” rating and set a $44.00 price target for the company. in a report on Monday, October 29th. Finally, SunTrust Banks lowered their price objective on Leggett & Platt to $40.00 and set an “outperform” rating for the company in a research report on Tuesday, October 30th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Leggett & Platt currently has a consensus rating of “Hold” and a consensus price target of $46.17.
Shares of LEG stock traded down $0.25 during trading hours on Tuesday, hitting $38.06. 112,153 shares of the company were exchanged, compared to its average volume of 1,338,970. Leggett & Platt has a fifty-two week low of $33.48 and a fifty-two week high of $49.22. The company has a quick ratio of 1.32, a current ratio of 2.12 and a debt-to-equity ratio of 1.16. The company has a market cap of $4.94 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 1.48 and a beta of 1.01.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Friday, December 14th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date of this dividend is Thursday, December 13th. Leggett & Platt’s dividend payout ratio is currently 61.79%.
A number of large investors have recently added to or reduced their stakes in LEG. Girard Partners LTD. purchased a new stake in Leggett & Platt in the third quarter worth $100,000. Federated Investors Inc. PA bought a new stake in shares of Leggett & Platt in the 3rd quarter valued at approximately $113,000. FNY Investment Advisers LLC bought a new stake in Leggett & Platt during the 3rd quarter valued at $132,000. Moneta Group Investment Advisors LLC increased its holdings in shares of Leggett & Platt by 159.2% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 3,175 shares of the company’s stock valued at $142,000 after acquiring an additional 1,950 shares during the period. Finally, TLP Group LLC purchased a new position in Leggett & Platt during the 3rd quarter worth $145,000. Institutional investors own 75.63% of the company’s stock.
About Leggett & Platt
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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