Zacks: Brokerages Anticipate Leggett & Platt, Inc. (LEG) Will Announce Earnings of $0.61 Per Share
Brokerages expect Leggett & Platt, Inc. (NYSE:LEG) to post $0.61 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Leggett & Platt’s earnings, with the lowest EPS estimate coming in at $0.60 and the highest estimate coming in at $0.62. Leggett & Platt reported earnings per share of $0.53 in the same quarter last year, which would suggest a positive year-over-year growth rate of 15.1%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 29th.
According to Zacks, analysts expect that Leggett & Platt will report full year earnings of $2.48 per share for the current year, with EPS estimates ranging from $2.47 to $2.50. For the next year, analysts anticipate that the business will post earnings of $2.74 per share, with EPS estimates ranging from $2.64 to $2.80. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Leggett & Platt.
Leggett & Platt (NYSE:LEG) last issued its earnings results on Thursday, October 26th. The company reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Leggett & Platt had a return on equity of 29.60% and a net margin of 8.75%. Leggett & Platt’s revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.67 earnings per share.
In related news, SVP Scott S. Douglas sold 3,000 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $46.45, for a total transaction of $139,350.00. Following the completion of the sale, the senior vice president now directly owns 35,289 shares in the company, valued at $1,639,174.05. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.78% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Leggett & Platt by 6.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,407 shares of the company’s stock worth $127,000 after acquiring an additional 153 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Leggett & Platt by 25.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 3,137 shares of the company’s stock worth $165,000 after acquiring an additional 634 shares in the last quarter. Investment Management of Virginia LLC bought a new position in Leggett & Platt during the second quarter valued at about $206,000. Profund Advisors LLC bought a new position in Leggett & Platt during the second quarter valued at about $217,000. Finally, Sigma Planning Corp raised its holdings in Leggett & Platt by 4.2% during the second quarter. Sigma Planning Corp now owns 4,277 shares of the company’s stock valued at $225,000 after buying an additional 172 shares in the last quarter. Institutional investors and hedge funds own 68.68% of the company’s stock.
Shares of Leggett & Platt (NYSE LEG) opened at $47.88 on Friday. The company has a market capitalization of $6,260.00, a price-to-earnings ratio of 20.10, a PEG ratio of 2.01 and a beta of 1.03. The company has a quick ratio of 1.11, a current ratio of 1.74 and a debt-to-equity ratio of 0.89. Leggett & Platt has a 12-month low of $43.17 and a 12-month high of $54.97.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Friday, December 15th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.44 annualized dividend and a dividend yield of 3.01%. Leggett & Platt’s dividend payout ratio is 58.30%.
COPYRIGHT VIOLATION NOTICE: This report was published by American Banking News and is the sole property of of American Banking News. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright legislation. The legal version of this report can be read at https://www.americanbankingnews.com/2017/12/02/zacks-brokerages-anticipate-leggett-platt-inc-leg-will-announce-earnings-of-0-61-per-share.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Leggett & Platt Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Leggett & Platt Inc. and related companies with MarketBeat.com's FREE daily email newsletter.