Leggett & Platt (LEG) Posts Quarterly Results
Leggett & Platt (NYSE:LEG) posted its quarterly earnings results on Thursday. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01, AnalystRatingsNetwork reports. The company had revenue of $896.80 million for the quarter, compared to the consensus estimate of $891.38 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Leggett & Platt updated its FY14 guidance to $1.65-1.85 EPS.
A number of research firms have recently commented on LEG. Analysts at Monness Crespi & Hardt upgraded shares of Leggett & Platt from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday. They now have a $35.00 price target on the stock. On a related note, analysts at Ned Davis Research upgraded shares of Leggett & Platt from a “neutral” rating to a “buy” rating in a research note to investors on Monday, January 6th. Finally, analysts at Ned Davis Research upgraded shares of Leggett & Platt from a “neutral” rating to a “buy” rating in a research note to investors on Monday, November 18th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Leggett & Platt has an average rating of “Hold” and an average price target of $32.67.
Shares of Leggett & Platt (NYSE:LEG) traded up 1.29% during mid-day trading on Thursday, hitting $30.69. The stock had a trading volume of 1,584,319 shares. Leggett & Platt has a 1-year low of $28.00 and a 1-year high of $34.28. The stock’s 50-day moving average is $30.14 and its 200-day moving average is $30.22. The company has a market cap of $4.334 billion and a price-to-earnings ratio of 16.88.
Leggett & Platt, Incorporated is an international manufacturer that conceives, designs and produces a range of engineered components and products found in many homes, offices, retail stores, automobiles and commercial aircraft.
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