Leggett & Platt, Inc. (LEG) Forecasted to Earn FY2018 Earnings of $2.44 Per Share

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Leggett & Platt, Inc. (NYSE:LEG) – Equities research analysts at SunTrust Banks lowered their FY2018 earnings estimates for shares of Leggett & Platt in a report released on Monday, October 29th. SunTrust Banks analyst K. Hughes now anticipates that the company will post earnings per share of $2.44 for the year, down from their prior estimate of $2.63. SunTrust Banks currently has a “Outperform” rating and a $40.00 target price on the stock. SunTrust Banks also issued estimates for Leggett & Platt’s Q4 2018 earnings at $0.57 EPS, Q1 2019 earnings at $0.59 EPS, Q2 2019 earnings at $0.71 EPS, Q3 2019 earnings at $0.74 EPS, Q4 2019 earnings at $0.68 EPS and FY2019 earnings at $2.72 EPS.

A number of other equities research analysts have also issued reports on the company. TheStreet lowered Leggett & Platt from a “b-” rating to a “c+” rating in a research note on Friday, October 26th. Raymond James lowered Leggett & Platt from a “strong-buy” rating to an “outperform” rating and set a $44.00 target price on the stock. in a research note on Monday. ValuEngine lowered Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Finally, Zacks Investment Research raised Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Monday, October 1st. One 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 company’s stock. The stock has a consensus rating of “Hold” and an average price target of $46.17.

LEG stock opened at $36.31 on Wednesday. Leggett & Platt has a 1 year low of $34.07 and a 1 year high of $49.88. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.32 and a current ratio of 2.12. The company has a market capitalization of $4.52 billion, a P/E ratio of 14.76, a P/E/G ratio of 1.32 and a beta of 0.83.

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). Leggett & Platt had a net margin of 6.87% and a return on equity of 28.37%. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.10 billion.

Several institutional investors have recently modified their holdings of the business. FNY Investment Advisers LLC purchased a new position in shares of Leggett & Platt during the 3rd quarter worth $132,000. NN Investment Partners Holdings N.V. acquired a new stake in shares of Leggett & Platt during the 3rd quarter worth $550,000. Sawtooth Solutions LLC acquired a new stake in shares of Leggett & Platt during the 3rd quarter worth $517,000. Russell Investments Group Ltd. increased its holdings in shares of Leggett & Platt by 9.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 74,187 shares of the company’s stock worth $3,249,000 after buying an additional 6,104 shares during the last quarter. Finally, DT Investment Partners LLC increased its holdings in shares of Leggett & Platt by 11.4% during the 3rd quarter. DT Investment Partners LLC now owns 52,043 shares of the company’s stock worth $2,279,000 after buying an additional 5,338 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

In other Leggett & Platt news, insider Matthew C. Flanigan sold 15,672 shares of the stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $46.00, for a total transaction of $720,912.00. Following the transaction, the insider now owns 116,341 shares of the company’s stock, valued at approximately $5,351,686. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.52% of the company’s stock.

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

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

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