Zacks: Analysts Anticipate Leggett & Platt, Inc. (LEG) Will Post Earnings of $0.56 Per Share

Equities research analysts expect Leggett & Platt, Inc. (NYSE:LEG) to post $0.56 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Leggett & Platt’s earnings, with estimates ranging from $0.53 to $0.58. Leggett & Platt reported earnings per share of $0.57 in the same quarter last year, which would indicate a negative year-over-year growth rate of 1.8%. The firm is expected to report its next quarterly earnings results on Thursday, April 25th.

On average, analysts expect that Leggett & Platt will report full year earnings of $2.54 per share for the current year, with EPS estimates ranging from $2.52 to $2.56. For the next financial year, analysts anticipate that the company will post earnings of $2.76 per share, with EPS estimates ranging from $2.75 to $2.77. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Leggett & Platt.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings results on Monday, February 4th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.02 billion. Leggett & Platt had a net margin of 7.16% and a return on equity of 28.95%. The business’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS.

Several research firms have issued reports on LEG. Zacks Investment Research cut shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Thursday. Gabelli downgraded shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Wednesday. Raymond James downgraded shares of Leggett & Platt from a “strong-buy” rating to an “outperform” rating and set a $44.00 price objective for the company. in a report on Monday, October 29th. TheStreet cut Leggett & Platt from a “b-” rating to a “c+” rating in a research note on Friday, October 26th. Finally, SunTrust Banks cut their target price on Leggett & Platt to $40.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 30th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Leggett & Platt has an average rating of “Hold” and a consensus target price of $45.80.

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Leggett & Platt by 1.1% in the third quarter. Vanguard Group Inc. now owns 13,988,152 shares of the company’s stock valued at $612,540,000 after buying an additional 158,966 shares during the last quarter. Vanguard Group Inc raised its stake in shares of Leggett & Platt by 1.1% during the third quarter. Vanguard Group Inc now owns 13,988,152 shares of the company’s stock valued at $612,540,000 after purchasing an additional 158,966 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Leggett & Platt by 4.9% during the third quarter. Bank of New York Mellon Corp now owns 4,547,497 shares of the company’s stock valued at $199,134,000 after purchasing an additional 213,589 shares in the last quarter. OLD Republic International Corp raised its stake in shares of Leggett & Platt by 29.6% during the fourth quarter. OLD Republic International Corp now owns 1,199,500 shares of the company’s stock valued at $42,990,000 after purchasing an additional 274,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Leggett & Platt by 1.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,163,137 shares of the company’s stock valued at $50,933,000 after purchasing an additional 14,448 shares in the last quarter. Institutional investors own 76.59% of the company’s stock.

Shares of Leggett & Platt stock traded down $0.33 during trading hours on Thursday, hitting $43.78. The company had a trading volume of 1,002,121 shares, compared to its average volume of 1,210,101. Leggett & Platt has a twelve month low of $33.48 and a twelve month high of $47.44. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 1.80 and a beta of 1.09. The company has a current ratio of 2.12, a quick ratio of 1.32 and a debt-to-equity ratio of 1.16.

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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