Leggett & Platt (NYSE:LEG) issued an update on its FY 2018 earnings guidance on Thursday morning. The company provided EPS guidance of $2.40-2.50 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.61. The company issued revenue guidance of $4.25-4.25 billion, compared to the consensus revenue estimate of $4.3 billion.Leggett & Platt also updated its Q4 2018 guidance to $0.53-0.63 EPS.
Leggett & Platt stock traded down $3.77 during mid-day trading on Friday, reaching $34.75. 4,025,350 shares of the company were exchanged, compared to its average volume of 1,174,190. The company has a quick ratio of 1.23, a current ratio of 1.90 and a debt-to-equity ratio of 1.15. The firm has a market cap of $5.01 billion, a P/E ratio of 15.66, a P/E/G ratio of 1.38 and a beta of 0.83. Leggett & Platt has a 12-month low of $34.73 and a 12-month high of $51.99.
Leggett & Platt (NYSE:LEG) last issued its quarterly earnings results on Thursday, October 25th. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.05). The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.10 billion. Leggett & Platt had a return on equity of 28.34% and a net margin of 6.87%. Equities analysts expect that Leggett & Platt will post 2.62 earnings per share for the current year.
Several research firms recently issued reports on LEG. Zacks Investment Research raised Leggett & Platt from a sell rating to a hold rating in a research report on Friday, August 24th. ValuEngine downgraded Leggett & Platt from a hold rating to a sell rating in a research report on Tuesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Leggett & Platt presently has a consensus rating of Hold and a consensus target price of $48.20.
In related news, insider Matthew C. Flanigan sold 29,248 shares of the company’s stock in a transaction on Monday, July 30th. The stock was sold at an average price of $44.09, for a total value of $1,289,544.32. Following the transaction, the insider now directly owns 115,039 shares of the company’s stock, valued at approximately $5,072,069.51. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Matthew C. Flanigan sold 15,672 shares of the company’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $46.00, for a total value of $720,912.00. Following the completion of the transaction, the insider now directly owns 116,341 shares in the company, valued at $5,351,686. The disclosure for this sale can be found here. 1.52% of the stock is owned by corporate insiders.
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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