$0.61 Earnings Per Share Expected for Leggett & Platt, Inc. (LEG) This Quarter
Equities research analysts predict that Leggett & Platt, Inc. (NYSE:LEG) will report earnings per share of $0.61 for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Leggett & Platt’s earnings, with estimates ranging from $0.60 to $0.62. Leggett & Platt posted earnings per share of $0.53 during the same quarter last year, which would suggest a positive year over year growth rate of 15.1%. The business is scheduled to announce its next quarterly earnings report on Monday, January 29th.
On average, analysts expect that Leggett & Platt will report full year earnings of $2.48 per share for the current financial year, with EPS estimates ranging from $2.47 to $2.50. For the next year, analysts forecast that the business will post earnings of $2.74 per share, with EPS estimates ranging from $2.64 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 data on Thursday, October 26th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Leggett & Platt had a return on equity of 29.60% and a net margin of 8.75%. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.67 earnings per share.
LEG has been the subject of a number of recent research reports. SunTrust Banks reiterated a “buy” rating and set a $53.00 price objective on shares of Leggett & Platt in a research note on Friday, October 27th. Zacks Investment Research upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. Piper Jaffray Companies cut Leggett & Platt from an “overweight” rating to a “neutral” rating and set a $46.00 price objective for the company. in a research note on Monday, October 30th. Stifel Nicolaus reiterated a “hold” rating on shares of Leggett & Platt in a research note on Thursday, September 7th. Finally, BidaskClub cut Leggett & Platt from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $54.29.
Shares of Leggett & Platt (LEG) traded down $0.33 during trading hours on Wednesday, reaching $47.06. The company’s stock had a trading volume of 672,221 shares, compared to its average volume of 879,569. The stock has a market capitalization of $6,246.83, a PE ratio of 19.21, a price-to-earnings-growth ratio of 1.98 and a beta of 1.03. Leggett & Platt has a 1-year low of $43.17 and a 1-year high of $54.97. The company has a quick ratio of 1.11, a current ratio of 1.74 and a debt-to-equity ratio of 0.89.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 15th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Thursday, December 14th. Leggett & Platt’s dividend payout ratio is currently 58.78%.
In other news, SVP Scott S. Douglas sold 3,000 shares of the business’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $46.45, for a total value of $139,350.00. Following the completion of the transaction, the senior vice president now owns 35,289 shares in the company, valued at $1,639,174.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.78% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Parametric Portfolio Associates LLC raised its stake in shares of Leggett & Platt by 10.7% in the third quarter. Parametric Portfolio Associates LLC now owns 356,232 shares of the company’s stock worth $17,003,000 after purchasing an additional 34,484 shares during the last quarter. Smith Shellnut Wilson LLC ADV purchased a new position in shares of Leggett & Platt in the third quarter worth $259,000. Archford Capital Strategies LLC raised its stake in shares of Leggett & Platt by 5.5% in the third quarter. Archford Capital Strategies LLC now owns 21,708 shares of the company’s stock worth $1,036,000 after purchasing an additional 1,137 shares during the last quarter. Moors & Cabot Inc. increased its position in Leggett & Platt by 25.9% during the third quarter. Moors & Cabot Inc. now owns 7,300 shares of the company’s stock valued at $349,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Belpointe Asset Management LLC purchased a new stake in Leggett & Platt during the third quarter valued at $387,000. Hedge funds and other institutional investors own 68.47% of the company’s stock.
About Leggett & Platt
Leggett & Platt, Incorporated is a manufacturer that conceives, designs and produces a range of engineered components and products found in homes, offices and automobiles. The Company operates in four segments: Residential Furnishings, Commercial Products, Industrial Materials and Specialized Products.
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