Wall Street brokerages predict that Leggett & Platt, Inc. (NYSE:LEG) will post earnings of $0.43 per share for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Leggett & Platt’s earnings, with estimates ranging from $0.36 to $0.46. Leggett & Platt reported earnings of $0.49 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 12.2%. The business is scheduled to report its next earnings results on Monday, May 4th.
According to Zacks, analysts expect that Leggett & Platt will report full year earnings of $2.50 per share for the current financial year, with EPS estimates ranging from $2.48 to $2.53. For the next financial year, analysts anticipate that the company will post earnings of $2.74 per share, with EPS estimates ranging from $2.64 to $2.79. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that that provide coverage for Leggett & Platt.
Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data on Monday, February 3rd. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.02. Leggett & Platt had a net margin of 7.02% and a return on equity of 27.79%. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the firm posted $0.62 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year.
A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus downgraded shares of Leggett & Platt from a “buy” rating to a “hold” rating and boosted their price objective for the company from $52.00 to $55.00 in a research report on Tuesday, November 19th. CJS Securities downgraded shares of Leggett & Platt from an “outperform” rating to a “market perform” rating and set a $54.00 price objective for the company. in a research report on Tuesday, December 10th. Goldman Sachs Group assumed coverage on shares of Leggett & Platt in a research report on Friday, December 6th. They set a “neutral” rating for the company. SunTrust Banks downgraded shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, ValuEngine upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $54.50.
Shares of LEG stock traded down $0.54 during mid-day trading on Friday, reaching $44.65. 966,452 shares of the company’s stock traded hands, compared to its average volume of 1,274,550. Leggett & Platt has a 12 month low of $35.35 and a 12 month high of $55.42. The firm has a 50 day moving average price of $48.40 and a two-hundred day moving average price of $46.11. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.97 and a current ratio of 1.66. The firm has a market capitalization of $5.95 billion, a PE ratio of 18.08, a price-to-earnings-growth ratio of 1.39 and a beta of 1.12.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date is Thursday, March 12th. Leggett & Platt’s dividend payout ratio (DPR) is 62.26%.
In related news, SVP Russell J. Iorio sold 6,962 shares of Leggett & Platt stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $53.09, for a total transaction of $369,612.58. Following the transaction, the senior vice president now owns 61,446 shares in the company, valued at approximately $3,262,168.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert Ted Enloe III sold 6,849 shares of Leggett & Platt stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $52.58, for a total transaction of $360,120.42. Following the transaction, the director now owns 39,166 shares in the company, valued at approximately $2,059,348.28. The disclosure for this sale can be found here. 1.45% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp lifted its stake in Leggett & Platt by 13.8% in the 3rd quarter. State Street Corp now owns 15,550,846 shares of the company’s stock worth $642,806,000 after purchasing an additional 1,882,237 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in Leggett & Platt in the 4th quarter worth $32,654,000. Renaissance Technologies LLC purchased a new stake in Leggett & Platt in the 4th quarter worth $19,190,000. Dearborn Partners LLC lifted its stake in Leggett & Platt by 92.4% in the 3rd quarter. Dearborn Partners LLC now owns 685,728 shares of the company’s stock worth $28,074,000 after purchasing an additional 329,405 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Leggett & Platt by 1,963.9% in the 3rd quarter. Millennium Management LLC now owns 328,859 shares of the company’s stock worth $13,463,000 after purchasing an additional 312,925 shares in the last quarter. Institutional investors own 73.67% of the company’s stock.
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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