Leggett & Platt, Incorporated (NYSE:LEG) – Investment analysts at SunTrust Banks lowered their Q3 2017 earnings estimates for shares of Leggett & Platt, in a note issued to investors on Wednesday. SunTrust Banks analyst K. Hughes now forecasts that the company will post earnings per share of $0.59 for the quarter, down from their previous estimate of $0.70. SunTrust Banks also issued estimates for Leggett & Platt,’s Q4 2017 earnings at $0.54 EPS, FY2017 earnings at $2.42 EPS, Q1 2018 earnings at $0.63 EPS, Q2 2018 earnings at $0.70 EPS, Q3 2018 earnings at $0.73 EPS, Q4 2018 earnings at $0.66 EPS and FY2018 earnings at $2.73 EPS.

A number of other brokerages have also issued reports on LEG. Piper Jaffray Companies set a $59.00 price target on shares of Leggett & Platt, and gave the stock a “buy” rating in a research note on Monday, August 14th. BidaskClub upgraded shares of Leggett & Platt, from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Credit Suisse Group began coverage on shares of Leggett & Platt, in a research report on Thursday, June 22nd. They set a “neutral” rating and a $56.00 price target for the company. Finally, Zacks Investment Research lowered shares of Leggett & Platt, from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $55.63.

ILLEGAL ACTIVITY NOTICE: “Q3 2017 Earnings Estimate for Leggett & Platt, Incorporated (LEG) Issued By SunTrust Banks” was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece can be read at https://www.americanbankingnews.com/2017/09/08/q3-2017-earnings-estimate-for-leggett-platt-incorporated-leg-issued-by-suntrust-banks.html.

Shares of Leggett & Platt, (LEG) opened at 43.50 on Friday. The stock has a market capitalization of $5.75 billion, a P/E ratio of 17.26 and a beta of 1.00. Leggett & Platt, has a 12 month low of $43.17 and a 12 month high of $54.97. The firm has a 50 day moving average of $47.77 and a 200-day moving average of $50.58.

Leggett & Platt, (NYSE:LEG) last announced its quarterly earnings data on Thursday, July 27th. The company reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.01. Leggett & Platt, had a net margin of 9.17% and a return on equity of 31.02%. The firm had revenue of $989.30 million during the quarter, compared to analysts’ expectations of $1 billion. During the same period in the prior year, the company posted $0.66 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis.

A number of hedge funds have recently modified their holdings of LEG. BlackRock Inc. lifted its position in Leggett & Platt, by 1,572.6% in the first quarter. BlackRock Inc. now owns 11,942,965 shares of the company’s stock worth $600,969,000 after purchasing an additional 11,228,920 shares during the period. Vanguard Group Inc. raised its stake in Leggett & Platt, by 3.2% during the first quarter. Vanguard Group Inc. now owns 15,434,519 shares of the company’s stock worth $776,664,000 after acquiring an additional 481,689 shares in the last quarter. Schroder Investment Management Group raised its stake in Leggett & Platt, by 79.8% during the first quarter. Schroder Investment Management Group now owns 1,060,299 shares of the company’s stock worth $53,450,000 after acquiring an additional 470,611 shares in the last quarter. Lord Abbett & CO. LLC acquired a new position in Leggett & Platt, during the second quarter worth $22,404,000. Finally, JPMorgan Chase & Co. raised its stake in Leggett & Platt, by 31.0% during the first quarter. JPMorgan Chase & Co. now owns 827,780 shares of the company’s stock worth $41,654,000 after acquiring an additional 196,033 shares in the last quarter. 68.98% of the stock is owned by hedge funds and other institutional investors.

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 value of $971,222.62. Following the completion of the sale, the insider now directly owns 159,522 shares of the company’s stock, valued at $7,909,100.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.78% of the stock is owned by corporate insiders.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.44 dividend on an annualized basis and a yield of 3.31%. Leggett & Platt,’s payout ratio is currently 57.14%.

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.

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

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.