Leggett & Platt (LEG) to Release Earnings on Tuesday

Leggett & Platt (NYSE:LEG) is set to post its quarterly earnings results after the market closes on Tuesday, April 30th. Analysts expect Leggett & Platt to post earnings of $0.25 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings data on Friday, February 9th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). Leggett & Platt had a negative net margin of 2.90% and a positive return on equity of 11.99%. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the firm posted $0.39 earnings per share. The business’s revenue for the quarter was down 6.7% on a year-over-year basis. On average, analysts expect Leggett & Platt to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Leggett & Platt Stock Performance

LEG opened at $18.27 on Tuesday. The firm’s fifty day moving average price is $19.26 and its two-hundred day moving average price is $22.57. Leggett & Platt has a fifty-two week low of $17.19 and a fifty-two week high of $33.50. The company has a current ratio of 1.49, a quick ratio of 0.84 and a debt-to-equity ratio of 1.26.

Leggett & Platt Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were paid a $0.46 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.84 annualized dividend and a dividend yield of 10.07%. Leggett & Platt’s dividend payout ratio is currently -184.00%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on LEG shares. StockNews.com cut Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Monday, March 11th. Truist Financial lowered their target price on shares of Leggett & Platt from $18.00 to $16.00 and set a “hold” rating on the stock in a report on Tuesday, March 26th. Finally, TheStreet downgraded shares of Leggett & Platt from a “c” rating to a “d+” rating in a report on Monday, March 11th. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Leggett & Platt presently has an average rating of “Hold” and an average price target of $19.33.

About Leggett & Platt

Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.