Leggett & Platt (NYSE:LEG) Announces Earnings Results, Misses Expectations By $0.01 EPS

Leggett & Platt (NYSE:LEG) released its quarterly earnings results on Monday. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.01), Briefing.com reports. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. Leggett & Platt had a positive return on equity of 12.65% and a negative net margin of 18.05%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 EPS.

Leggett & Platt Trading Up 6.9 %

Shares of LEG stock traded up $0.84 on Tuesday, hitting $13.01. 1,244,475 shares of the company’s stock traded hands, compared to its average volume of 2,301,273. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.88 and a current ratio of 1.53. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of -11.08 and a beta of 1.07. The company’s fifty day simple moving average is $12.79 and its 200 day simple moving average is $12.86. Leggett & Platt has a one year low of $10.11 and a one year high of $27.58.

Leggett & Platt Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th were paid a $0.05 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.54%. Leggett & Platt’s dividend payout ratio (DPR) is -17.24%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on LEG shares. The Goldman Sachs Group dropped their price target on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Finally, Truist Financial upped their target price on shares of Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Based on data from MarketBeat, Leggett & Platt currently has an average rating of “Hold” and a consensus price target of $12.67.

Leggett & Platt Company Profile

Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.