Equities analysts expect that Leggett & Platt, Inc. (NYSE:LEG) will announce earnings of $0.67 per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Leggett & Platt’s earnings. The lowest EPS estimate is $0.64 and the highest is $0.70. Leggett & Platt also reported earnings per share of $0.67 in the same quarter last year. The business is scheduled to announce its next earnings report on Thursday, October 24th.
According to Zacks, analysts expect that Leggett & Platt will report full year earnings of $2.45 per share for the current year, with EPS estimates ranging from $2.41 to $2.49. For the next fiscal year, analysts anticipate that the business will post earnings of $2.63 per share, with EPS estimates ranging from $2.53 to $2.69. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Leggett & Platt.
Leggett & Platt (NYSE:LEG) last announced its earnings results on Monday, July 29th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.01. Leggett & Platt had a return on equity of 27.47% and a net margin of 6.44%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the company earned $0.63 earnings per share.
LEG has been the topic of a number of analyst reports. ValuEngine lowered Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. TheStreet lowered Leggett & Platt from a “b-” rating to a “c+” rating in a research report on Friday, May 31st. Raymond James lowered Leggett & Platt from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. Finally, Zacks Investment Research lowered Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $42.00.
Shares of NYSE LEG traded up $0.60 during midday trading on Friday, reaching $39.07. 1,271,551 shares of the company’s stock were exchanged, compared to its average volume of 1,170,890. Leggett & Platt has a 52-week low of $33.48 and a 52-week high of $46.71. The company has a market capitalization of $5.08 billion, a PE ratio of 15.75, a PEG ratio of 1.73 and a beta of 1.08. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.89 and a quick ratio of 1.16. The stock’s fifty day moving average price is $38.78.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.10%. Leggett & Platt’s dividend payout ratio is currently 64.52%.
A number of institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP increased its holdings in Leggett & Platt by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,189,463 shares of the company’s stock worth $42,631,000 after acquiring an additional 26,326 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new stake in Leggett & Platt in the 4th quarter worth approximately $1,652,000. MML Investors Services LLC purchased a new stake in Leggett & Platt in the 4th quarter worth approximately $305,000. Norges Bank purchased a new stake in Leggett & Platt in the 4th quarter worth approximately $40,824,000. Finally, Geode Capital Management LLC increased its holdings in Leggett & Platt by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 2,109,433 shares of the company’s stock worth $75,497,000 after acquiring an additional 141,394 shares in the last quarter. 76.52% of the stock is owned by hedge funds and other institutional investors.
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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