Analysts Expect Leggett & Platt, Inc. (LEG) Will Post Quarterly Sales of $1.10 Billion

Analysts expect that Leggett & Platt, Inc. (NYSE:LEG) will post $1.10 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Leggett & Platt’s earnings, with the lowest sales estimate coming in at $1.09 billion and the highest estimate coming in at $1.11 billion. Leggett & Platt reported sales of $1.01 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 8.9%. The company is scheduled to report its next quarterly earnings results on Thursday, October 25th.

According to Zacks, analysts expect that Leggett & Platt will report full-year sales of $4.30 billion for the current year, with estimates ranging from $4.27 billion to $4.32 billion. For the next year, analysts expect that the company will report sales of $4.52 billion per share, with estimates ranging from $4.48 billion to $4.54 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Leggett & Platt.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data on Thursday, July 26th. The company reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.02. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. Leggett & Platt had a return on equity of 27.73% and a net margin of 6.83%. The firm’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.64 EPS.

A number of research analysts recently commented on the company. Zacks Investment Research upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Monday, July 2nd. Stifel Nicolaus upgraded Leggett & Platt from a “hold” rating to a “buy” rating and upped their price objective for the stock from $48.00 to $50.00 in a research note on Thursday, May 31st. Finally, ValuEngine upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $48.20.

In other Leggett & Platt news, insider Matthew C. Flanigan sold 29,248 shares of the business’s stock in a transaction on Monday, July 30th. The stock was sold at an average price of $44.09, for a total transaction of $1,289,544.32. Following the completion of the transaction, the insider now owns 115,039 shares in the company, valued at approximately $5,072,069.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Matthew C. Flanigan sold 15,672 shares of the business’s stock in a transaction on Thursday, August 23rd. The stock was 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 approximately $5,351,686. The disclosure for this sale can be found here. 1.52% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. BerganKDV Wealth Management LLC boosted its position in Leggett & Platt by 11.0% during the 2nd quarter. BerganKDV Wealth Management LLC now owns 19,322 shares of the company’s stock worth $863,000 after acquiring an additional 1,908 shares during the period. Charles Schwab Investment Advisory Inc. acquired a new position in Leggett & Platt during the 2nd quarter worth $120,882,000. Schwab Charles Investment Management Inc. boosted its position in Leggett & Platt by 2.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,054,774 shares of the company’s stock worth $47,086,000 after acquiring an additional 20,700 shares during the period. DnB Asset Management AS acquired a new position in Leggett & Platt during the 2nd quarter worth $553,000. Finally, Great West Life Assurance Co. Can boosted its position in Leggett & Platt by 1.2% during the 2nd quarter. Great West Life Assurance Co. Can now owns 161,596 shares of the company’s stock worth $7,222,000 after acquiring an additional 1,939 shares during the period. Institutional investors own 77.40% of the company’s stock.

Shares of LEG opened at $45.65 on Friday. The firm has a market cap of $5.99 billion, a P/E ratio of 19.17, a P/E/G ratio of 1.65 and a beta of 0.84. The company has a quick ratio of 1.23, a current ratio of 1.90 and a debt-to-equity ratio of 1.15. Leggett & Platt has a 12 month low of $39.57 and a 12 month high of $51.99.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, September 24th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Friday, September 21st. This represents a $1.52 dividend on an annualized basis and a yield of 3.33%. Leggett & Platt’s 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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