Leggett & Platt (NYSE:LEG) Announces Earnings Results

Leggett & Platt (NYSE:LEG) announced its quarterly earnings results on Monday. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01), Briefing.com reports. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. Leggett & Platt had a negative net margin of 18.05% and a positive return on equity of 12.65%. The company’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period last year, the firm earned $0.36 earnings per share.

Leggett & Platt Stock Performance

LEG stock traded up $0.13 during trading on Thursday, hitting $12.26. 180,135 shares of the company’s stock traded hands, compared to its average volume of 2,299,541. The company has a quick ratio of 0.88, a current ratio of 1.53 and a debt-to-equity ratio of 2.55. Leggett & Platt has a 52 week low of $10.11 and a 52 week high of $27.58. The stock has a fifty day moving average price of $12.80 and a two-hundred day moving average price of $12.83. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -2.02 and a beta of 1.07.

Leggett & Platt Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th were paid a dividend of $0.05 per share. The ex-dividend date was Friday, September 13th. This represents a $0.20 annualized dividend and a yield of 1.63%. Leggett & Platt’s payout ratio is -3.33%.

Analysts Set New Price Targets

LEG has been the topic of a number of recent research reports. Piper Sandler raised shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $11.00 to $13.00 in a research report on Wednesday. The Goldman Sachs Group reduced their price target on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Truist Financial boosted 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. Finally, StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Leggett & Platt has a consensus rating of “Hold” and an average 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.