Zacks: Brokerages Anticipate Leggett & Platt, Inc. (NYSE:LEG) Will Announce Earnings of $0.67 Per Share

Analysts expect Leggett & Platt, Inc. (NYSE:LEG) to report $0.67 earnings per share (EPS) for the current quarter, according to Zacks. Four analysts have issued estimates for Leggett & Platt’s earnings, with the highest EPS estimate coming in at $0.70 and the lowest estimate coming in at $0.64. Leggett & Platt also reported earnings per share of $0.67 in the same quarter last year. The company is scheduled to announce its next quarterly 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 $2.41 to $2.49. For the next fiscal year, analysts expect that the business will report earnings of $2.63 per share, with EPS estimates ranging from $2.53 to $2.69. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that follow Leggett & Platt.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data on Monday, July 29th. The company reported $0.64 earnings per share 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 for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share.

A number of research analysts recently weighed in on the company. ValuEngine lowered Leggett & Platt from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Zacks Investment Research lowered Leggett & Platt from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Raymond James lowered Leggett & Platt from an “outperform” rating to a “market perform” rating in a report on Wednesday, July 24th. Finally, TheStreet lowered Leggett & Platt from a “b-” rating to a “c+” rating in a report on Friday, May 31st. Two investment 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. The company presently has a consensus rating of “Hold” and a consensus target price of $42.00.

LEG stock traded down $0.55 on Friday, reaching $38.98. 893,900 shares of the company’s stock were exchanged, compared to its average volume of 1,167,055. The company has a fifty day moving average of $38.86. Leggett & Platt has a twelve month low of $33.48 and a twelve month high of $46.71. The company has a market cap of $5.05 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 1.21 and a beta of 1.08. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.16 and a current ratio of 1.89.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $1.60 dividend on an annualized basis and a yield of 4.10%. Leggett & Platt’s payout ratio is 64.52%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Penserra Capital Management LLC purchased a new stake in Leggett & Platt during the first quarter worth $26,000. Thor Advisors LLC purchased a new stake in Leggett & Platt during the first quarter worth $37,000. Legacy Advisors LLC purchased a new stake in Leggett & Platt during the first quarter worth $51,000. Advisory Services Network LLC boosted its position in Leggett & Platt by 25.1% during the second quarter. Advisory Services Network LLC now owns 1,248 shares of the company’s stock worth $48,000 after purchasing an additional 250 shares in the last quarter. Finally, Flagship Harbor Advisors LLC boosted its position in Leggett & Platt by 386.0% during the second quarter. Flagship Harbor Advisors LLC now owns 1,322 shares of the company’s stock worth $50,000 after purchasing an additional 1,050 shares in the last quarter. Institutional investors own 76.52% 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.

See Also: P/E Growth (PEG)

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Earnings History and Estimates for Leggett & Platt (NYSE:LEG)

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