Leggett & Platt (NYSE:LEG) Announces Quarterly Earnings Results

Leggett & Platt (NYSE:LEG) posted its quarterly earnings results on Monday. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01), Briefing.com reports. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations 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 was down 6.3% compared to the same quarter last year. During the same period last year, the business posted $0.36 earnings per share.

Leggett & Platt Stock Up 4.0 %

Shares of NYSE:LEG opened at $12.66 on Wednesday. The stock’s 50-day moving average is $12.79 and its 200 day moving average is $12.86. The company has a market cap of $1.70 billion, a PE ratio of -10.91 and a beta of 1.07. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.53 and a quick ratio of 0.88. Leggett & Platt has a 1 year low of $10.11 and a 1 year high of $27.58.

Leggett & Platt Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th were issued a dividend of $0.05 per share. The ex-dividend date was Friday, September 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.58%. Leggett & Platt’s dividend payout ratio is currently -17.24%.

Analysts Set New Price Targets

A number of equities analysts recently commented on LEG shares. Piper Sandler upgraded shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $11.00 to $13.00 in a research report on Wednesday. StockNews.com upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. The Goldman Sachs Group dropped their target price on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, Truist Financial lifted their price target on Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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.