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

Leggett & Platt (NYSE:LEG) posted its earnings results on Monday. The company reported $0.32 earnings per share (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 during the quarter, compared to the consensus estimate of $1.10 billion. Leggett & Platt had a positive return on equity of 12.65% and a negative net margin of 18.05%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 earnings per share.

Leggett & Platt Stock Up 6.9 %

LEG stock traded up $0.84 during midday trading on Tuesday, hitting $13.01. The stock had a trading volume of 1,244,475 shares, compared to its average volume of 2,301,273. The business has a 50-day moving average of $12.79 and a two-hundred day moving average of $12.86. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.53 and a quick ratio of 0.88. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of -11.08 and a beta of 1.07. Leggett & Platt has a 52-week low of $10.11 and a 52-week 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 paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Friday, September 13th. Leggett & Platt’s payout ratio is presently -17.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. StockNews.com upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group cut their price target on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, Truist Financial boosted their price objective on shares of Leggett & Platt from $11.00 to $13.00 and gave the company a “hold” rating in a research report on Monday, August 5th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target 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.