Leggett & Platt, Incorporated (NYSE:LEG) Declares $0.05 Quarterly Dividend

Leggett & Platt, Incorporated (NYSE:LEG) declared a quarterly dividend on Thursday, November 6th. Investors of record on Monday, December 15th will be paid a dividend of 0.05 per share on Thursday, January 15th. This represents a c) annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Monday, December 15th.

Leggett & Platt has decreased its dividend payment by an average of 0.2%per year over the last three years. Leggett & Platt has a payout ratio of 16.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Leggett & Platt to earn $1.24 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 16.1%.

Leggett & Platt Trading Down 0.2%

NYSE LEG traded down $0.02 during mid-day trading on Friday, reaching $8.71. 487,713 shares of the stock were exchanged, compared to its average volume of 2,285,552. The stock has a market capitalization of $1.18 billion, a PE ratio of 5.41 and a beta of 0.74. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.36 and a current ratio of 2.15. Leggett & Platt has a 1-year low of $6.47 and a 1-year high of $13.20. The business’s fifty day simple moving average is $9.22 and its 200 day simple moving average is $9.25.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings results on Monday, October 27th. The company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Leggett & Platt had a return on equity of 16.27% and a net margin of 5.38%.The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 EPS. Leggett & Platt has set its FY 2025 guidance at 1.000-1.100 EPS. On average, research analysts anticipate that Leggett & Platt will post 1.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on LEG. The Goldman Sachs Group reissued a “neutral” rating and issued a $11.00 price target on shares of Leggett & Platt in a research note on Wednesday, October 29th. Truist Financial raised their target price on shares of Leggett & Platt from $10.00 to $12.00 and gave the stock a “hold” rating in a research report on Wednesday, October 29th. Wall Street Zen downgraded shares of Leggett & Platt from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Leggett & Platt in a research report on Wednesday, October 8th. Finally, Piper Sandler set a $9.00 price target on shares of Leggett & Platt in a report on Wednesday, October 29th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $11.00.

About Leggett & Platt

Leggett & Platt, Inc engages in the manufacture and distribution of furniture and engineered components and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding Products, Specialized Products, and Furniture, Flooring & Textile Products.