Zacks: Brokerages Anticipate Leggett & Platt, Incorporated (LEG) Will Announce Earnings of $0.62 Per Share
Equities analysts expect Leggett & Platt, Incorporated (NYSE:LEG) to report earnings per share of $0.62 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Leggett & Platt,’s earnings, with estimates ranging from $0.59 to $0.64. Leggett & Platt, posted earnings per share of $0.67 during the same quarter last year, which would indicate a negative year-over-year growth rate of 7.5%. The company is scheduled to report its next quarterly earnings results after the market closes on Thursday, October 26th.
On average, analysts expect that Leggett & Platt, will report full-year earnings of $2.44 per share for the current fiscal year, with EPS estimates ranging from $2.40 to $2.49. For the next fiscal year, analysts anticipate that the firm will post earnings of $2.71 per share, with EPS estimates ranging from $2.59 to $2.81. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that follow Leggett & Platt,.
Leggett & Platt, (NYSE:LEG) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.01). Leggett & Platt, had a net margin of 9.17% and a return on equity of 31.02%. The business had revenue of $989.30 million during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis.
Several analysts have commented on LEG shares. Piper Jaffray Companies set a $59.00 target price on shares of Leggett & Platt, and gave the stock a “buy” rating in a research note on Monday, August 14th. SunTrust Banks, Inc. raised shares of Leggett & Platt, from a “hold” rating to a “buy” rating and lifted their target price for the stock from $50.00 to $53.00 in a research note on Friday, September 22nd. They noted that the move was a valuation call. Stifel Nicolaus reaffirmed a “hold” rating on shares of Leggett & Platt, in a research note on Thursday, September 7th. Zacks Investment Research raised shares of Leggett & Platt, from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, BidaskClub cut shares of Leggett & Platt, from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Two research analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. Leggett & Platt, currently has a consensus rating of “Hold” and an average target price of $54.75.
In other Leggett & Platt, news, insider Matthew C. Flanigan sold 19,589 shares of Leggett & Platt, stock in a transaction on Monday, July 31st. The shares were sold at an average price of $49.58, for a total value of $971,222.62. Following the transaction, the insider now owns 159,522 shares in the company, valued at approximately $7,909,100.76. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.78% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in LEG. Ameriprise Financial Inc. boosted its holdings in shares of Leggett & Platt, by 24.9% in the 1st quarter. Ameriprise Financial Inc. now owns 92,636 shares of the company’s stock valued at $4,666,000 after purchasing an additional 18,463 shares during the last quarter. OppenheimerFunds Inc. boosted its holdings in shares of Leggett & Platt, by 6.9% in the 1st quarter. OppenheimerFunds Inc. now owns 9,180 shares of the company’s stock valued at $462,000 after purchasing an additional 594 shares during the last quarter. Thrivent Financial For Lutherans boosted its holdings in shares of Leggett & Platt, by 5.2% in the 1st quarter. Thrivent Financial For Lutherans now owns 5,060 shares of the company’s stock valued at $254,000 after purchasing an additional 250 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Leggett & Platt, by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 587,140 shares of the company’s stock valued at $29,545,000 after acquiring an additional 4,952 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of Leggett & Platt, during the 1st quarter valued at $126,000. Institutional investors own 68.64% of the company’s stock.
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Leggett & Platt, (NYSE LEG) traded down 0.08% on Tuesday, reaching $49.04. The company had a trading volume of 74,778 shares. The stock has a market capitalization of $6.49 billion, a PE ratio of 19.46 and a beta of 0.99. Leggett & Platt, has a 52-week low of $43.17 and a 52-week high of $54.97. The stock has a 50 day moving average price of $47.12 and a 200 day moving average price of $50.02.
The business also recently declared a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 15th were issued a $0.36 dividend. The ex-dividend date was Thursday, September 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.93%. Leggett & Platt,’s dividend payout ratio (DPR) is presently 57.14%.
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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