Brokers Set Expectations for Leggett & Platt, Inc.’s Q1 2019 Earnings (LEG)

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Leggett & Platt, Inc. (NYSE:LEG) – Equities research analysts at Piper Jaffray Companies reduced their Q1 2019 EPS estimates for shares of Leggett & Platt in a research note issued to investors on Sunday, October 28th. Piper Jaffray Companies analyst P. Keith now expects that the company will post earnings of $0.61 per share for the quarter, down from their previous estimate 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 issued its quarterly earnings results on Thursday, October 25th. The company reported $0.67 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.05). Leggett & Platt had a return on equity of 28.37% and a net margin of 6.87%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $1.10 billion.

Other equities analysts have also recently issued research reports about the stock. Raymond James cut shares of Leggett & Platt from a “strong-buy” rating to an “outperform” rating and set a $44.00 target price on the stock. in a report on Monday. Zacks Investment Research raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Monday, October 1st. ValuEngine cut shares of Leggett & Platt from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. SunTrust Banks cut their target price on shares of Leggett & Platt to $40.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, TheStreet cut shares of Leggett & Platt from a “b-” rating to a “c+” rating in a report on Friday, October 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $46.17.

Shares of LEG stock opened at $36.29 on Wednesday. The company has a current ratio of 2.12, a quick ratio of 1.32 and a debt-to-equity ratio of 1.16. Leggett & Platt has a one year low of $34.07 and a one year high of $49.88. The stock has a market cap of $4.52 billion, a PE ratio of 14.75, a P/E/G ratio of 1.32 and a beta of 0.83.

Several large investors have recently made changes to their positions in the business. Victory Capital Management Inc. increased its stake in shares of Leggett & Platt by 0.5% in the second quarter. Victory Capital Management Inc. now owns 261,331 shares of the company’s stock valued at $11,666,000 after purchasing an additional 1,191 shares during the period. Palisade Asset Management LLC increased its stake in shares of Leggett & Platt by 2.0% in the second quarter. Palisade Asset Management LLC now owns 63,691 shares of the company’s stock valued at $2,843,000 after purchasing an additional 1,241 shares during the period. Hexavest Inc. increased its stake in shares of Leggett & Platt by 25.5% in the third quarter. Hexavest Inc. now owns 6,124 shares of the company’s stock valued at $268,000 after purchasing an additional 1,245 shares during the period. Monroe Bank & Trust MI increased its stake in shares of Leggett & Platt by 3.6% in the second quarter. Monroe Bank & Trust MI now owns 36,422 shares of the company’s stock valued at $1,626,000 after purchasing an additional 1,281 shares during the period. Finally, Verity & Verity LLC increased its stake in shares of Leggett & Platt by 2.2% in the third quarter. Verity & Verity LLC now owns 61,044 shares of the company’s stock valued at $2,673,000 after purchasing an additional 1,296 shares during the period. 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 firm’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $46.00, for a total value of $720,912.00. Following the transaction, the insider now owns 116,341 shares of the company’s stock, valued at $5,351,686. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.52% of the company’s stock.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Monday, September 24th were issued a $0.38 dividend. The ex-dividend date of this dividend was Friday, September 21st. This represents a $1.52 dividend on an annualized basis and a yield of 4.19%. Leggett & Platt’s dividend payout ratio is currently 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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