Wall Street brokerages forecast that Leggett & Platt, Incorporated (NYSE:LEG) will report earnings per share (EPS) of $0.70 for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Leggett & Platt,’s earnings, with the lowest EPS estimate coming in at $0.69 and the highest estimate coming in at $0.72. Leggett & Platt, reported earnings of $0.67 per share during the same quarter last year, which would suggest a positive year over year growth rate of 4.5%. The firm is scheduled to issue its next earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Leggett & Platt, will report full year earnings of $2.59 per share for the current financial year, with EPS estimates ranging from $2.55 to $2.62. For the next financial year, analysts expect that the business will report earnings of $2.81 per share, with EPS estimates ranging from $2.75 to $2.93. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Leggett & Platt,.
Leggett & Platt, (NYSE:LEG) last posted its earnings results on Thursday, July 27th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.65 by $0.01. The company had revenue of $989.30 million for the quarter, compared to analyst estimates of $1 billion. Leggett & Platt, had a return on equity of 31.02% and a net margin of 9.17%. The firm’s revenue was up 3.2% on a year-over-year basis. During the same period last year, the business earned $0.66 earnings per share.
Several analysts have commented on LEG shares. Piper Jaffray Companies reaffirmed a “buy” rating and set a $59.00 price objective on shares of Leggett & Platt, in a research note on Friday, July 14th. BidaskClub raised Leggett & Platt, from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Zacks Investment Research downgraded Leggett & Platt, from a “buy” rating to a “hold” rating in a research note on Monday, May 15th. Gabelli started coverage on Leggett & Platt, in a research note on Wednesday, June 21st. They set a “hold” rating and a $53.00 price objective for the company. Finally, Hilliard Lyons raised Leggett & Platt, from a “neutral” rating to a “long-term buy” rating and set a $66.00 price objective for the company in a research note on Monday, July 24th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $56.88.
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Leggett & Platt, (NYSE LEG) traded down 1.51% during mid-day trading on Thursday, reaching $46.98. The company had a trading volume of 843,546 shares. Leggett & Platt, has a 12 month low of $44.02 and a 12 month high of $54.97. The firm’s 50 day moving average price is $51.51 and its 200-day moving average price is $50.89. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of 18.64 and a beta of 0.98.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Thursday, September 14th. Leggett & Platt,’s dividend payout ratio (DPR) is 57.14%.
In other news, insider Matthew C. Flanigan sold 19,589 shares of the stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $49.58, for a total transaction of $971,222.62. Following the completion of the transaction, the insider now directly owns 159,522 shares of the company’s stock, valued at approximately $7,909,100.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.78% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Leggett & Platt, by 3.2% in the first quarter. Vanguard Group Inc. now owns 15,434,519 shares of the company’s stock worth $776,664,000 after buying an additional 481,689 shares during the period. BlackRock Inc. increased its position in shares of Leggett & Platt, by 0.6% in the second quarter. BlackRock Inc. now owns 12,019,449 shares of the company’s stock worth $631,381,000 after buying an additional 76,484 shares during the period. Thomaspartners Inc. increased its position in shares of Leggett & Platt, by 8.7% in the first quarter. Thomaspartners Inc. now owns 3,821,679 shares of the company’s stock worth $192,307,000 after buying an additional 305,900 shares during the period. US Bancorp DE increased its position in shares of Leggett & Platt, by 2.3% in the second quarter. US Bancorp DE now owns 2,038,293 shares of the company’s stock worth $107,072,000 after buying an additional 46,071 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of Leggett & Platt, by 0.9% in the second quarter. Franklin Resources Inc. now owns 1,584,782 shares of the company’s stock worth $83,249,000 after buying an additional 13,837 shares during the period. 72.10% of the stock is owned by institutional investors and hedge funds.
About Leggett & Platt,
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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