Brokerages Expect Leggett & Platt, Inc. (NYSE:LEG) Will Post Quarterly Sales of $1.21 Billion

Analysts expect that Leggett & Platt, Inc. (NYSE:LEG) will post $1.21 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Leggett & Platt’s earnings, with the lowest sales estimate coming in at $1.21 billion and the highest estimate coming in at $1.22 billion. Leggett & Platt reported sales of $1.09 billion in the same quarter last year, which would suggest a positive year over year growth rate of 11%. The company is scheduled to issue its next quarterly earnings results on Thursday, October 24th.

According to Zacks, analysts expect that Leggett & Platt will report full-year sales of $4.76 billion for the current year, with estimates ranging from $4.74 billion to $4.78 billion. For the next year, analysts anticipate that the firm will report sales of $4.93 billion, with estimates ranging from $4.90 billion to $4.97 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Leggett & Platt.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.64 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.01. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.28 billion. Leggett & Platt had a return on equity of 27.47% and a net margin of 6.44%. During the same quarter last year, the business posted $0.63 EPS.

Several brokerages recently commented on LEG. TheStreet downgraded Leggett & Platt from a “b-” rating to a “c+” rating in a research note on Friday, May 31st. Raymond James downgraded Leggett & Platt from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th. Finally, ValuEngine raised Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Tuesday, September 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Leggett & Platt has an average rating of “Hold” and an average price target of $42.00.

Leggett & Platt stock traded down $0.47 during mid-day trading on Wednesday, hitting $40.81. 2,089,359 shares of the company’s stock were exchanged, compared to its average volume of 950,487. The firm has a market capitalization of $5.52 billion, a P/E ratio of 16.46, a PEG ratio of 1.32 and a beta of 1.08. Leggett & Platt has a fifty-two week low of $33.48 and a fifty-two week high of $46.50. The company has a quick ratio of 1.16, a current ratio of 1.89 and a debt-to-equity ratio of 2.01. The company’s 50 day simple moving average is $38.87 and its 200-day simple moving average is $39.79.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.92%. The ex-dividend date of this dividend is Thursday, September 12th. Leggett & Platt’s dividend payout ratio is 64.52%.

In other Leggett & Platt news, CEO Karl G. Glassman sold 10,683 shares of Leggett & Platt stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $42.13, for a total value of $450,074.79. Following the sale, the chief executive officer now owns 460,505 shares of the company’s stock, valued at approximately $19,401,075.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.45% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisory Services Network LLC raised its stake in shares of Leggett & Platt by 25.1% in the 2nd quarter. Advisory Services Network LLC now owns 1,248 shares of the company’s stock valued at $48,000 after purchasing an additional 250 shares during the period. Northwestern Mutual Investment Management Company LLC grew its holdings in shares of Leggett & Platt by 1.4% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 19,918 shares of the company’s stock valued at $841,000 after acquiring an additional 273 shares in the last quarter. Woodstock Corp grew its holdings in shares of Leggett & Platt by 2.3% in the 2nd quarter. Woodstock Corp now owns 13,200 shares of the company’s stock valued at $506,000 after acquiring an additional 300 shares in the last quarter. Mason Street Advisors LLC grew its holdings in shares of Leggett & Platt by 1.7% in the 1st quarter. Mason Street Advisors LLC now owns 18,699 shares of the company’s stock valued at $789,000 after acquiring an additional 312 shares in the last quarter. Finally, Bbva USA Bancshares Inc. grew its holdings in shares of Leggett & Platt by 5.1% in the 2nd quarter. Bbva USA Bancshares Inc. now owns 6,842 shares of the company’s stock valued at $262,000 after acquiring an additional 335 shares in the last quarter. 78.00% of the stock is currently owned by hedge funds and other institutional investors.

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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