Leggett & Platt (NYSE:LEG) Posts Earnings Results, Misses Estimates By $0.01 EPS

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

Leggett & Platt Trading Up 6.8 %

Shares of NYSE LEG traded up $0.83 during mid-day trading on Tuesday, hitting $13.00. The company’s stock had a trading volume of 1,250,352 shares, compared to its average volume of 2,301,058. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of -11.08 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 one year low of $10.11 and a one year high of $27.58. The company’s fifty day simple moving average is $12.79 and its 200-day simple moving average is $12.86.

Leggett & Platt Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.54%. The ex-dividend date was Friday, September 13th. Leggett & Platt’s dividend payout ratio (DPR) is presently -17.24%.

Analyst Upgrades and Downgrades

LEG has been the subject of a number of recent analyst reports. The Goldman Sachs Group dropped their target price on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. StockNews.com upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. Finally, Truist Financial increased their target price on shares of Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat.com, Leggett & Platt currently has a consensus rating of “Hold” and an average target price of $12.67.

About Leggett & Platt

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.