Equities Analysts Issue Forecasts for Leggett & Platt, Inc.’s Q1 2019 Earnings (LEG)

Leggett & Platt, Inc. (NYSE:LEG) – Equities researchers at Piper Jaffray Companies reduced their Q1 2019 earnings per share estimates for shares of Leggett & Platt in a note issued to investors on Sunday, October 28th. Piper Jaffray Companies analyst P. Keith now expects that the company will post earnings per share of $0.61 for the quarter, down from their previous forecast of $0.64. Piper Jaffray Companies also issued estimates for Leggett & Platt’s Q2 2019 earnings at $0.69 EPS.

Leggett & Platt (NYSE:LEG) last posted its 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 firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.10 billion. Leggett & Platt had a net margin of 6.87% and a return on equity of 28.37%.



A number of other analysts also recently commented on the stock. ValuEngine downgraded shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Zacks Investment Research upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Monday, October 1st. Raymond James downgraded shares of Leggett & Platt from a “strong-buy” rating to an “outperform” rating and set a $44.00 price target on the stock. in a research report on Monday. SunTrust Banks dropped their price target on shares of Leggett & Platt to $40.00 and set an “outperform” rating on the stock in a research report on Tuesday. Finally, TheStreet downgraded shares of Leggett & Platt from a “b-” rating to a “c+” rating in a research report on Friday, October 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $46.17.

LEG stock opened at $36.31 on Wednesday. Leggett & Platt has a 52 week low of $34.07 and a 52 week high of $49.88. The stock has a market cap of $4.52 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 1.32 and a beta of 0.83. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.32 and a current ratio of 2.12.

Several hedge funds have recently added to or reduced their stakes in LEG. Charles Schwab Investment Advisory Inc. bought a new stake in shares of Leggett & Platt in the 2nd quarter worth approximately $120,882,000. Epoch Investment Partners Inc. increased its position in shares of Leggett & Platt by 20.6% in the second quarter. Epoch Investment Partners Inc. now owns 3,597,884 shares of the company’s stock worth $160,610,000 after acquiring an additional 614,419 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Leggett & Platt in the second quarter worth approximately $21,353,000. Intrinsic Edge Capital Management LLC purchased a new position in shares of Leggett & Platt in the second quarter worth approximately $12,742,000. Finally, Raymond James & Associates increased its position in shares of Leggett & Platt by 16.9% in the second quarter. Raymond James & Associates now owns 1,562,298 shares of the company’s stock worth $69,741,000 after acquiring an additional 225,307 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

In other Leggett & Platt news, insider Matthew C. Flanigan sold 15,672 shares of the business’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $46.00, for a total transaction of $720,912.00. Following the sale, the insider now directly owns 116,341 shares in the company, valued at approximately $5,351,686. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.52% of the stock is currently owned by insiders.

The business also recently declared a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Monday, September 24th were given a dividend of $0.38 per share. The ex-dividend date was Friday, September 21st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.19%. Leggett & Platt’s dividend payout ratio (DPR) is 61.79%.

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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Earnings History and Estimates for Leggett & Platt (NYSE:LEG)

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