Analysts expect that Leggett & Platt, Inc. (NYSE:LEG) will report $1.28 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Leggett & Platt’s earnings. The lowest sales estimate is $1.25 billion and the highest is $1.30 billion. Leggett & Platt reported sales of $1.10 billion during the same quarter last year, which indicates a positive year over year growth rate of 16.4%. The company is expected to issue its next quarterly earnings report on Thursday, July 25th.
On average, analysts expect that Leggett & Platt will report full-year sales of $4.95 billion for the current fiscal year, with estimates ranging from $4.91 billion to $5.00 billion. For the next year, analysts anticipate that the company will report sales of $5.15 billion, with estimates ranging from $5.06 billion to $5.24 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Leggett & Platt.
Leggett & Platt (NYSE:LEG) last released its quarterly earnings results on Monday, April 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.03). The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Leggett & Platt had a net margin of 6.58% and a return on equity of 28.02%. Leggett & Platt’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.57 EPS.
A number of hedge funds have recently bought and sold shares of LEG. FMR LLC grew its holdings in shares of Leggett & Platt by 24.5% in the first quarter. FMR LLC now owns 54,615 shares of the company’s stock worth $2,306,000 after purchasing an additional 10,765 shares during the last quarter. Horizon Investments LLC purchased a new stake in Leggett & Platt in the first quarter worth about $369,000. Thor Advisors LLC purchased a new stake in Leggett & Platt in the first quarter worth about $37,000. SRB Corp lifted its stake in Leggett & Platt by 4.3% in the first quarter. SRB Corp now owns 15,833 shares of the company’s stock worth $669,000 after acquiring an additional 653 shares during the period. Finally, Confluence Wealth Management LLC purchased a new stake in Leggett & Platt in the first quarter worth about $201,000. Institutional investors and hedge funds own 76.36% of the company’s stock.
Leggett & Platt stock traded down $0.15 during mid-day trading on Wednesday, reaching $37.29. 947,055 shares of the company’s stock traded hands, compared to its average volume of 1,086,609. The stock has a market capitalization of $4.93 billion, a P/E ratio of 15.04, a price-to-earnings-growth ratio of 1.68 and a beta of 1.06. The firm’s 50 day moving average price is $37.53. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.13 and a current ratio of 1.91. Leggett & Platt has a 12-month low of $33.48 and a 12-month high of $46.71.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be given a dividend of $0.40 per share. This is a boost from Leggett & Platt’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.60 dividend on an annualized basis and a yield of 4.29%. Leggett & Platt’s payout ratio is 64.52%.
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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