Leggett & Platt, Inc. (LEG) Expected to Post Earnings of $0.72 Per Share
Analysts expect Leggett & Platt, Inc. (NYSE:LEG) to report earnings of $0.72 per share for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Leggett & Platt’s earnings, with the highest EPS estimate coming in at $0.73 and the lowest estimate coming in at $0.71. Leggett & Platt posted earnings per share of $0.61 in the same quarter last year, which indicates a positive year over year growth rate of 18%. The company is scheduled to issue its next earnings report on Thursday, October 25th.
According to Zacks, analysts expect that Leggett & Platt will report full-year earnings of $2.62 per share for the current fiscal year, with EPS estimates ranging from $2.60 to $2.64. For the next fiscal year, analysts anticipate that the business will report earnings of $2.92 per share, with EPS estimates ranging from $2.89 to $2.98. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Leggett & Platt.
Leggett & Platt (NYSE:LEG) last released its quarterly earnings data on Thursday, July 26th. The company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. Leggett & Platt had a net margin of 6.83% and a return on equity of 27.73%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the firm earned $0.64 earnings per share. The firm’s revenue for the quarter was up 11.4% compared to the same quarter last year.
NYSE:LEG traded down $0.17 during mid-day trading on Thursday, reaching $44.57. The company’s stock had a trading volume of 1,158,125 shares, compared to its average volume of 1,285,753. Leggett & Platt has a 1 year low of $39.57 and a 1 year high of $51.99. The firm has a market cap of $5.94 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 1.63 and a beta of 0.84. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.90 and a quick ratio of 1.23.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Monday, September 24th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Friday, September 21st. Leggett & Platt’s payout ratio is 61.79%.
In related news, insider Matthew C. Flanigan sold 15,672 shares of the stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $46.00, for a total value of $720,912.00. Following the completion of the transaction, the insider now directly owns 116,341 shares of the company’s stock, valued at approximately $5,351,686. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Matthew C. Flanigan sold 29,248 shares of the stock in a transaction that occurred on Monday, July 30th. The shares were sold at an average price of $44.09, for a total transaction of $1,289,544.32. Following the completion of the transaction, the insider now directly owns 115,039 shares of the company’s stock, valued at $5,072,069.51. The disclosure for this sale can be found here. Corporate insiders own 1.52% of the company’s stock.
Several institutional investors have recently made changes to their positions in LEG. Federated Investors Inc. PA purchased a new position in shares of Leggett & Platt in the 1st quarter valued at approximately $138,000. Moneta Group Investment Advisors LLC raised its position in shares of Leggett & Platt by 159.2% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 3,175 shares of the company’s stock valued at $142,000 after purchasing an additional 1,950 shares during the last quarter. Hilltop Holdings Inc. purchased a new position in shares of Leggett & Platt in the 1st quarter valued at approximately $200,000. Osborn Williams & Donohoe LLC purchased a new position in shares of Leggett & Platt in the 2nd quarter valued at approximately $201,000. Finally, Confluence Wealth Management LLC purchased a new position in shares of Leggett & Platt in the 2nd quarter valued at approximately $213,000. 77.42% of the stock is owned by hedge funds and other institutional investors.
About Leggett & Platt
Leggett & Platt, Incorporated designs and produces various engineered components and products worldwide. It operates through four segments: Residential Products, Furniture Products, Industrial Products, and Specialized Products. The Residential Products segment offers innersprings, wire forms, and machines to shape wire into various types of springs; industrial sewing/finishing machines, conveyor lines, mattress packaging, and glue-drying equipment, as well as quilting machines; and structural fabrics, carpet cushions, and geo components.
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