Analysts expect Leggett & Platt, Inc. (NYSE:LEG) to report $0.63 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Leggett & Platt’s earnings, with the highest EPS estimate coming in at $0.65 and the lowest estimate coming in at $0.61. Leggett & Platt also posted earnings of $0.63 per share during the same quarter last year. The firm is expected to report its next quarterly earnings results on Thursday, July 25th.
On average, analysts expect that Leggett & Platt will report full-year earnings of $2.47 per share for the current year, with EPS estimates ranging from $2.41 to $2.52. For the next financial year, analysts anticipate that the firm will report earnings of $2.73 per share, with EPS estimates ranging from $2.55 to $2.91. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Leggett & Platt.
Leggett & Platt (NYSE:LEG) last posted its earnings results on Monday, April 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.03). The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Leggett & Platt had a return on equity of 28.02% and a net margin of 6.58%. The company’s revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 EPS.
Several equities research analysts have issued reports on the company. Gabelli downgraded Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. Zacks Investment Research upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Finally, TheStreet upgraded Leggett & Platt from a “c+” rating to a “b-” rating in a research report on Friday, March 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $44.67.
Shares of NYSE:LEG traded up $0.37 during trading on Thursday, hitting $39.90. 3,321 shares of the company were exchanged, compared to its average volume of 1,015,660. The company has a market cap of $5.16 billion, a P/E ratio of 16.07, a P/E/G ratio of 1.72 and a beta of 1.04. Leggett & Platt has a 52-week low of $33.48 and a 52-week high of $46.71. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.91 and a quick ratio of 1.09.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were given a $0.38 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.81%. Leggett & Platt’s dividend payout ratio (DPR) is presently 61.29%.
In related news, Director Joseph W. Mcclanathan sold 10,143 shares of the stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $43.83, for a total value of $444,567.69. Following the sale, the director now owns 26,034 shares in the company, valued at $1,141,070.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Scott S. Douglas sold 18,450 shares of the stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $45.22, for a total value of $834,309.00. Following the completion of the sale, the senior vice president now owns 51,187 shares in the company, valued at approximately $2,314,676.14. The disclosure for this sale can be found here. Insiders sold 44,635 shares of company stock worth $2,012,477 in the last quarter. 1.45% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc increased its stake in Leggett & Platt by 1.1% in the third quarter. Vanguard Group Inc now owns 13,988,152 shares of the company’s stock valued at $612,540,000 after acquiring an additional 158,966 shares during the last quarter. Vanguard Group Inc. increased its stake in Leggett & Platt by 1.1% in the third quarter. Vanguard Group Inc. now owns 13,988,152 shares of the company’s stock valued at $612,540,000 after acquiring an additional 158,966 shares during the last quarter. BlackRock Inc. increased its stake in Leggett & Platt by 4.1% in the fourth quarter. BlackRock Inc. now owns 12,678,300 shares of the company’s stock valued at $454,390,000 after acquiring an additional 499,242 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Leggett & Platt by 27.7% in the fourth quarter. Bank of New York Mellon Corp now owns 5,805,887 shares of the company’s stock valued at $208,083,000 after acquiring an additional 1,258,390 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Leggett & Platt by 7.2% in the fourth quarter. Geode Capital Management LLC now owns 2,109,433 shares of the company’s stock valued at $75,497,000 after acquiring an additional 141,394 shares during the last quarter. 79.93% of the stock is currently owned by institutional investors and hedge funds.
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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