Leggett & Platt, Incorporated (LEG) Expected to Post Earnings of $0.58 Per Share
Analysts predict that Leggett & Platt, Incorporated (NYSE:LEG) will announce earnings per share (EPS) of $0.58 for the current quarter, Zacks reports. Three analysts have made estimates for Leggett & Platt,’s earnings. The lowest EPS estimate is $0.50 and the highest is $0.62. Leggett & Platt, reported earnings of $0.53 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.4%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 29th.
According to Zacks, analysts expect that Leggett & Platt, will report full-year earnings of $2.47 per share for the current fiscal year, with EPS estimates ranging from $2.40 to $2.50. For the next year, analysts forecast that the company will post earnings of $2.74 per share, with EPS estimates ranging from $2.64 to $2.81. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Leggett & Platt,.
Leggett & Platt, (NYSE:LEG) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.01 billion. Leggett & Platt, had a net margin of 8.75% and a return on equity of 29.60%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business earned $0.67 EPS.
A number of research analysts recently issued reports on LEG shares. Piper Jaffray Companies set a $59.00 price objective on shares of Leggett & Platt, and gave the company a “buy” rating in a report on Monday, August 14th. SunTrust Banks, Inc. restated a “buy” rating and set a $53.00 price target on shares of Leggett & Platt, in a report on Friday, October 27th. BidaskClub lowered shares of Leggett & Platt, from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. Zacks Investment Research lowered shares of Leggett & Platt, from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, Hilliard Lyons upgraded shares of Leggett & Platt, from a “neutral” rating to a “long-term buy” rating and set a $66.00 price target for the company in a report on Monday, July 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $54.29.
Shares of Leggett & Platt, (LEG) traded up $0.06 during midday trading on Monday, reaching $45.94. 688,100 shares of the company were exchanged, compared to its average volume of 970,717. The company has a market cap of $6,055.69, a price-to-earnings ratio of 19.14, a PEG ratio of 1.91 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 current ratio of 1.74, a quick ratio of 1.11 and a debt-to-equity ratio of 0.89.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.44 annualized dividend and a yield of 3.13%. Leggett & Platt,’s payout ratio is 58.78%.
Institutional investors have recently added to or reduced their stakes in the business. TimesSquare Capital Management LLC acquired a new stake in shares of Leggett & Platt, during the 3rd quarter worth approximately $81,509,000. Bank of New York Mellon Corp grew its position in shares of Leggett & Platt, by 78.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,549,592 shares of the company’s stock worth $121,693,000 after buying an additional 1,120,320 shares during the period. Sarasin & Partners LLP grew its position in shares of Leggett & Platt, by 106.0% during the 3rd quarter. Sarasin & Partners LLP now owns 1,212,946 shares of the company’s stock worth $57,894,000 after buying an additional 624,208 shares during the period. Becker Capital Management Inc. acquired a new stake in shares of Leggett & Platt, during the 3rd quarter worth approximately $21,057,000. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Leggett & Platt, during the 2nd quarter worth approximately $22,404,000. Hedge funds and other institutional investors own 70.22% of the company’s stock.
Leggett & Platt, Company Profile
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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