Analysts expect Leggett & Platt, Inc. (NYSE:LEG) to post $0.67 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Leggett & Platt’s earnings, with estimates ranging from $0.64 to $0.70. Leggett & Platt also posted earnings of $0.67 per share in the same quarter last year. The firm is expected to announce its next earnings results on Thursday, October 24th.
On average, analysts expect that Leggett & Platt will report full year earnings of $2.45 per share for the current fiscal year, with EPS estimates ranging from $2.42 to $2.49. For the next fiscal year, analysts forecast that the firm will report earnings of $2.63 per share, with EPS estimates ranging from $2.54 to $2.69. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that that provide coverage for Leggett & Platt.
Leggett & Platt (NYSE:LEG) last released its earnings results on Monday, July 29th. The company reported $0.64 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 firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share.
LEG has been the subject of several recent research reports. TheStreet upgraded Leggett & Platt from a “c+” rating to a “b-” rating in a research report on Friday, September 27th. ValuEngine cut Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Raymond James cut Leggett & Platt from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. Leggett & Platt presently has a consensus rating of “Hold” and an average price target of $42.00.
Shares of LEG stock opened at $40.88 on Wednesday. The stock has a 50 day moving average of $39.49 and a 200 day moving average of $39.43. The company has a current ratio of 1.89, a quick ratio of 1.16 and a debt-to-equity ratio of 2.01. The stock has a market cap of $5.09 billion, a P/E ratio of 16.48 and a beta of 1.10. Leggett & Platt has a twelve month low of $33.48 and a twelve month high of $46.50.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.91%. The ex-dividend date is Thursday, September 12th. Leggett & Platt’s dividend payout ratio is currently 64.52%.
In related news, CEO Karl G. Glassman sold 10,683 shares of Leggett & Platt stock in a transaction that occurred on Monday, September 16th. The stock was 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 directly owns 460,505 shares in the company, valued at $19,401,075.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.45% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of LEG. Nuveen Asset Management LLC purchased a new stake in shares of Leggett & Platt in the second quarter valued at approximately $20,309,000. Invesco Ltd. increased its position in shares of Leggett & Platt by 14.0% in the second quarter. Invesco Ltd. now owns 3,431,097 shares of the company’s stock valued at $131,652,000 after buying an additional 420,132 shares in the last quarter. Capital Advisors Inc. OK increased its position in shares of Leggett & Platt by 568.9% in the second quarter. Capital Advisors Inc. OK now owns 451,175 shares of the company’s stock valued at $17,312,000 after buying an additional 383,725 shares in the last quarter. Charles Schwab Investment Advisory Inc. increased its position in shares of Leggett & Platt by 8.2% in the second quarter. Charles Schwab Investment Advisory Inc. now owns 3,302,997 shares of the company’s stock valued at $126,736,000 after buying an additional 251,426 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Leggett & Platt by 25.0% in the second quarter. First Trust Advisors LP now owns 1,086,676 shares of the company’s stock valued at $41,696,000 after buying an additional 217,066 shares in the last quarter. Institutional investors and hedge funds own 78.00% 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.
Featured Article: Sell-Side Analysts
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Leggett & Platt Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Leggett & Platt and related companies with MarketBeat.com's FREE daily email newsletter.