Leggett & Platt (NYSE:LEG) Issues FY19 Earnings Guidance

Leggett & Platt (NYSE:LEG) updated its FY19 earnings guidance on Monday. The company provided EPS guidance of $2.48-$2.63 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.45. The company issued revenue guidance of $4.7-$4.8 billion, compared to the consensus revenue estimate of $4.75 billion.

A number of research firms have recently weighed in on LEG. ValuEngine lowered shares of Leggett & Platt from a hold rating to a sell rating in a report on Friday, October 11th. Raymond James lowered shares of Leggett & Platt from an outperform rating to a market perform rating in a report on Wednesday, July 24th. Finally, TheStreet upgraded shares of Leggett & Platt from a c+ rating to a b- rating in a report on Friday, September 27th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $42.00.

LEG traded up $0.91 on Monday, hitting $46.16. The company had a trading volume of 2,300,600 shares, compared to its average volume of 1,124,803. Leggett & Platt has a 52-week low of $33.48 and a 52-week high of $46.50. The stock has a fifty day simple moving average of $41.61 and a 200-day simple moving average of $39.53. The firm has a market capitalization of $5.82 billion, a P/E ratio of 18.61 and a beta of 1.10. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.89 and a quick ratio of 1.16.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Monday, October 28th. The company reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.09. Leggett & Platt had a net margin of 6.44% and a return on equity of 27.47%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the firm earned $0.66 earnings per share. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. Equities research analysts expect that Leggett & Platt will post 2.45 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date was Thursday, September 12th. Leggett & Platt’s dividend payout ratio is 64.52%.

In other Leggett & Platt news, CEO Karl G. Glassman sold 10,683 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $42.13, for a total transaction of $450,074.79. Following the completion of the transaction, the chief executive officer now owns 460,505 shares of the company’s stock, valued at $19,401,075.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.45% of the stock is currently owned by company insiders.

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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Earnings History and Estimates for Leggett & Platt (NYSE:LEG)

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