Brokerages Expect Leggett & Platt, Inc. (NYSE:LEG) to Announce $0.64 Earnings Per Share
Analysts expect Leggett & Platt, Inc. (NYSE:LEG) to report $0.64 earnings per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Leggett & Platt’s earnings. The highest EPS estimate is $0.67 and the lowest is $0.61. Leggett & Platt reported earnings per share of $0.63 in the same quarter last year, which would suggest a positive year-over-year growth rate of 1.6%. The business is scheduled to report its next earnings report on Thursday, July 25th.
On average, analysts expect that Leggett & Platt will report full year earnings of $2.46 per share for the current fiscal year, with EPS estimates ranging from $2.41 to $2.50. For the next fiscal year, analysts expect that the company will report earnings of $2.71 per share, with EPS estimates ranging from $2.55 to $2.81. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Leggett & Platt.
Leggett & Platt (NYSE:LEG) last issued its earnings results on Monday, April 29th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.03). Leggett & Platt had a return on equity of 28.02% and a net margin of 6.58%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period in the previous year, the company earned $0.57 earnings per share. The business’s revenue for the quarter was up 12.3% on a year-over-year basis.
LEG stock traded down $0.19 during mid-day trading on Wednesday, hitting $38.79. The stock had a trading volume of 16,124 shares, compared to its average volume of 930,194. The company has a quick ratio of 1.13, a current ratio of 1.91 and a debt-to-equity ratio of 2.02. Leggett & Platt has a 1-year low of $33.48 and a 1-year high of $46.71. The business’s fifty day moving average price is $37.72. The stock has a market cap of $5.12 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 1.74 and a beta of 1.08.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.40 per share. This is a positive change from Leggett & Platt’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.12%. Leggett & Platt’s dividend payout ratio is currently 64.52%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC grew its stake in Leggett & Platt by 7.2% in the 4th quarter. Geode Capital Management LLC now owns 2,109,433 shares of the company’s stock valued at $75,497,000 after buying an additional 141,394 shares in the last quarter. Northern Trust Corp grew its position in shares of Leggett & Platt by 3.0% during the 4th quarter. Northern Trust Corp now owns 1,468,823 shares of the company’s stock valued at $52,643,000 after purchasing an additional 42,276 shares in the last quarter. OLD Republic International Corp grew its position in shares of Leggett & Platt by 9.8% during the 1st quarter. OLD Republic International Corp now owns 1,316,500 shares of the company’s stock valued at $55,583,000 after purchasing an additional 117,000 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Leggett & Platt by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,189,463 shares of the company’s stock valued at $42,631,000 after purchasing an additional 26,326 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Leggett & Platt during the 4th quarter valued at $40,824,000. 76.36% of the stock is currently owned by institutional investors and hedge funds.
Leggett & Platt Company Profile
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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