Leggett & Platt, Incorporated (NYSE:LEG) – Investment analysts at Gabelli increased their FY2017 EPS estimates for Leggett & Platt, in a research note issued to investors on Monday. Gabelli analyst J. Bergner now expects that the company will post earnings per share of $2.50 for the year, up from their previous estimate of $2.40. Gabelli also issued estimates for Leggett & Platt,’s FY2018 earnings at $2.70 EPS, FY2019 earnings at $2.90 EPS and FY2021 earnings at $3.35 EPS.

Leggett & Platt, (NYSE:LEG) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.01 billion. Leggett & Platt, had a return on equity of 29.60% and a net margin of 8.75%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.67 EPS.

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LEG has been the subject of a number of other reports. Zacks Investment Research downgraded Leggett & Platt, from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Piper Jaffray Companies downgraded Leggett & Platt, from an “overweight” rating to a “neutral” rating and set a $46.00 price objective for the company. in a report on Monday. Stifel Nicolaus reiterated a “hold” rating on shares of Leggett & Platt, in a report on Thursday, September 7th. Hilliard Lyons upgraded Leggett & Platt, from a “neutral” rating to a “long-term buy” rating and set a $66.00 price objective for the company in a report on Monday, July 24th. Finally, BidaskClub downgraded Leggett & Platt, from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $54.38.

Shares of Leggett & Platt, (LEG) opened at 47.26 on Wednesday. Leggett & Platt, has a one year low of $43.17 and a one year high of $54.97. The firm has a market capitalization of $6.25 billion, a price-to-earnings ratio of 18.75 and a beta of 0.99. The stock’s 50 day moving average price is $47.53 and its 200 day moving average price is $49.90.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its stake in Leggett & Platt, by 0.6% in the second quarter. BlackRock Inc. now owns 12,019,449 shares of the company’s stock valued at $631,381,000 after purchasing an additional 76,484 shares in the last quarter. US Bancorp DE grew its stake in Leggett & Platt, by 2.3% in the second quarter. US Bancorp DE now owns 2,038,293 shares of the company’s stock valued at $107,072,000 after purchasing an additional 46,071 shares in the last quarter. Franklin Resources Inc. grew its stake in Leggett & Platt, by 0.9% in the second quarter. Franklin Resources Inc. now owns 1,584,782 shares of the company’s stock valued at $83,249,000 after purchasing an additional 13,837 shares in the last quarter. Villere ST Denis J & Co. LLC grew its stake in Leggett & Platt, by 0.8% in the third quarter. Villere ST Denis J & Co. LLC now owns 1,572,514 shares of the company’s stock valued at $75,056,000 after purchasing an additional 12,800 shares in the last quarter. Finally, KAMES CAPITAL plc grew its stake in Leggett & Platt, by 2.2% in the second quarter. KAMES CAPITAL plc now owns 1,194,230 shares of the company’s stock valued at $62,733,000 after purchasing an additional 25,526 shares in the last quarter. Hedge funds and other institutional investors own 68.72% of the company’s stock.

The business also recently declared a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 15th were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.44 dividend on an annualized basis and a yield of 3.05%. Leggett & Platt,’s dividend payout ratio is 58.78%.

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.

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

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