Equities research analysts forecast that Leggett & Platt, Incorporated (NYSE:LEG) will announce earnings per share (EPS) of $0.65 for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Leggett & Platt,’s earnings. The lowest EPS estimate is $0.62 and the highest is $0.68. Leggett & Platt, posted earnings of $0.66 per share in the same quarter last year, which would suggest a negative year over year growth rate of 1.5%. The firm is expected to report its next earnings report after the market closes on Thursday, July 27th.
According to Zacks, analysts expect that Leggett & Platt, will report full-year earnings of $2.63 per share for the current year, with EPS estimates ranging from $2.58 to $2.67. For the next financial year, analysts forecast that the firm will report earnings of $2.85 per share, with EPS estimates ranging from $2.76 to $2.93. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Leggett & Platt,.
Leggett & Platt, (NYSE:LEG) last posted its quarterly earnings results on Thursday, April 27th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.03. The firm had revenue of $960.30 million for the quarter, compared to analyst estimates of $958.98 million. Leggett & Platt, had a net margin of 10.14% and a return on equity of 31.91%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 earnings per share.
LEG has been the topic of several analyst reports. BidaskClub upgraded shares of Leggett & Platt, from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Piper Jaffray Companies reiterated a “buy” rating and issued a $59.00 target price on shares of Leggett & Platt, in a report on Friday, July 14th. Zacks Investment Research upgraded shares of Leggett & Platt, from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Stifel Nicolaus increased their target price on shares of Leggett & Platt, from $48.00 to $52.00 and gave the stock a “hold” rating in a report on Monday, April 3rd. Finally, Gabelli initiated coverage on shares of Leggett & Platt, in a report on Wednesday, June 21st. They issued a “hold” rating and a $53.00 target price on the stock. Seven analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $55.57.
In other news, SVP Scott S. Douglas sold 5,000 shares of the stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $53.26, for a total transaction of $266,300.00. Following the completion of the sale, the senior vice president now owns 36,133 shares of the company’s stock, valued at $1,924,443.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph W. Mcclanathan sold 5,715 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $52.91, for a total transaction of $302,380.65. Following the sale, the director now directly owns 32,314 shares of the company’s stock, valued at approximately $1,709,733.74. The disclosure for this sale can be found here. Insiders have sold 46,320 shares of company stock valued at $2,477,652 in the last three months. 1.78% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its stake in shares of Leggett & Platt, by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 582,188 shares of the company’s stock valued at $28,461,000 after buying an additional 14,623 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Leggett & Platt, by 3,106.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,810 shares of the company’s stock valued at $235,000 after buying an additional 4,660 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Leggett & Platt, during the fourth quarter valued at about $975,000. Pegasus Partners Ltd. increased its stake in shares of Leggett & Platt, by 6.7% in the fourth quarter. Pegasus Partners Ltd. now owns 44,968 shares of the company’s stock valued at $2,198,000 after buying an additional 2,807 shares in the last quarter. Finally, Teachers Advisors LLC increased its stake in shares of Leggett & Platt, by 6.3% in the fourth quarter. Teachers Advisors LLC now owns 338,172 shares of the company’s stock valued at $16,530,000 after buying an additional 19,947 shares in the last quarter. 72.09% of the stock is owned by institutional investors.
Leggett & Platt, (NYSE:LEG) traded up 0.06% on Friday, reaching $52.60. 238,103 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $52.59 and its 200 day moving average price is $50.74. Leggett & Platt, has a 52-week low of $44.02 and a 52-week high of $54.97. The firm has a market capitalization of $6.96 billion, a PE ratio of 19.15 and a beta of 1.01.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Thursday, June 15th were given a dividend of $0.36 per share. This is an increase from Leggett & Platt,’s previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, June 13th. This represents a $1.44 annualized dividend and a dividend yield of 2.74%. Leggett & Platt,’s dividend payout ratio is currently 52.36%.
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.
Get a free copy of the Zacks research report on Leggett & Platt, (LEG)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Leggett & Platt Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Leggett & Platt Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.
