Equities Analysts Offer Predictions for Leggett & Platt, Inc.’s Q3 2018 Earnings (LEG)

Leggett & Platt, Inc. (NYSE:LEG) – Analysts at SunTrust Banks increased their Q3 2018 EPS estimates for shares of Leggett & Platt in a research note issued on Tuesday. SunTrust Banks analyst K. Hughes now expects that the company will earn $0.74 per share for the quarter, up from their prior estimate of $0.73. SunTrust Banks currently has a “Buy” rating and a $53.00 target price on the stock. SunTrust Banks also issued estimates for Leggett & Platt’s Q4 2018 earnings at $0.71 EPS.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Monday, February 5th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.02). The business had revenue of $984.00 million during the quarter, compared to the consensus estimate of $998.32 million. Leggett & Platt had a net margin of 7.42% and a return on equity of 29.44%. The company’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.53 EPS.

LEG has been the subject of a number of other research reports. Zacks Investment Research raised Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Tuesday, November 7th. Piper Jaffray Companies downgraded Leggett & Platt from an “overweight” rating to a “neutral” rating and set a $46.00 price target for the company. in a research note on Monday, October 30th. Finally, Gabelli raised Leggett & Platt from a “hold” rating to a “buy” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $54.57.

Leggett & Platt (NYSE:LEG) opened at $44.28 on Thursday. The company has a market capitalization of $5,802.28, a PE ratio of 20.79, a P/E/G ratio of 1.65 and a beta of 0.92. Leggett & Platt has a 52 week low of $42.00 and a 52 week high of $54.97. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.84 and a quick ratio of 1.11.

In other Leggett & Platt news, SVP Scott S. Douglas sold 10,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $47.01, for a total transaction of $470,100.00. Following the completion of the transaction, the senior vice president now owns 29,584 shares of the company’s stock, valued at $1,390,743.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Scott S. Douglas sold 3,000 shares of the business’s stock in a transaction dated Monday, November 20th. The stock was sold at an average price of $46.45, for a total value of $139,350.00. Following the transaction, the senior vice president now directly owns 35,289 shares of the company’s stock, valued at approximately $1,639,174.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,250 shares of company stock valued at $621,070. 1.78% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ameriprise Financial Inc. increased its stake in shares of Leggett & Platt by 51.0% in the second quarter. Ameriprise Financial Inc. now owns 139,883 shares of the company’s stock valued at $7,350,000 after buying an additional 47,247 shares during the period. Profund Advisors LLC acquired a new position in shares of Leggett & Platt in the second quarter valued at approximately $217,000. Thrivent Financial For Lutherans increased its stake in shares of Leggett & Platt by 1.8% in the second quarter. Thrivent Financial For Lutherans now owns 5,150 shares of the company’s stock valued at $271,000 after buying an additional 90 shares during the period. Virtu KCG Holdings LLC acquired a new position in shares of Leggett & Platt in the second quarter valued at approximately $378,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Leggett & Platt by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 622,389 shares of the company’s stock valued at $32,693,000 after buying an additional 35,249 shares during the period. 68.22% of the stock is owned by hedge funds and other institutional investors.

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About Leggett & Platt

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.

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