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

Leggett & Platt (NYSE:LEG) released its quarterly earnings data 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 during 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 firm’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 EPS.

Leggett & Platt Trading Down 4.1 %

Leggett & Platt stock traded down $0.52 during midday trading on Wednesday, hitting $12.15. 1,870,574 shares of the stock were exchanged, compared to its average volume of 2,309,830. Leggett & Platt has a fifty-two week low of $10.11 and a fifty-two week high of $27.58. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of -10.91 and a beta of 1.07. The stock’s 50-day simple moving average is $12.80 and its 200 day simple moving average is $12.83. The company has a current ratio of 1.53, a quick ratio of 0.88 and a debt-to-equity ratio of 2.55.

Leggett & Platt Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 13th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.65%. The ex-dividend date was Friday, September 13th. Leggett & Platt’s payout ratio is currently -17.24%.

Analyst Upgrades and Downgrades

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