Leggett & Platt (LEG) Posts Earnings Results, Misses Expectations By $0.02 EPS

Leggett & Platt (NYSE:LEG) issued its earnings results on Monday, February 5th. The company reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.02), Bloomberg Earnings reports. The firm had revenue of $984.00 million during the quarter, compared to analysts’ expectations of $998.32 million. Leggett & Platt had a return on equity of 29.44% and a net margin of 7.42%. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the business posted $0.53 earnings per share. Leggett & Platt updated its FY17 guidance to $2.65-2.85 EPS.

Leggett & Platt (NYSE:LEG) traded down $0.57 during trading hours on Tuesday, reaching $44.35. The company had a trading volume of 188,004 shares, compared to its average volume of 1,406,994. The firm has a market capitalization of $5,920.00, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 1.43 and a beta of 0.92. Leggett & Platt has a fifty-two week low of $42.00 and a fifty-two week high of $54.97. The company has a quick ratio of 1.23, a current ratio of 1.84 and a debt-to-equity ratio of 0.92.

In other Leggett & Platt news, CFO Matthew C. Flanigan sold 10,061 shares of Leggett & Platt stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $45.78, for a total value of $460,592.58. Following the completion of the transaction, the chief financial officer now directly owns 102,615 shares in the company, valued at $4,697,714.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Scott S. Douglas sold 10,000 shares of Leggett & Platt stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $47.01, for a total value of $470,100.00. Following the completion of the transaction, the senior vice president now owns 29,584 shares of the company’s stock, valued at $1,390,743.84. The disclosure for this sale can be found here. Insiders sold 23,311 shares of company stock valued at $1,081,663 over the last quarter. Insiders own 1.78% of the company’s stock.

Several brokerages recently weighed in on LEG. Piper Jaffray Companies lowered Leggett & Platt from an “overweight” rating to a “neutral” rating and set a $46.00 target price on the stock. in a research report on Monday, October 30th. SunTrust Banks reissued a “buy” rating and issued a $53.00 price objective on shares of Leggett & Platt in a research report on Friday, October 27th. Zacks Investment Research raised Leggett & Platt from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research report on Wednesday, January 10th. Finally, Gabelli raised Leggett & Platt from a “hold” rating to a “buy” rating in a research report on Wednesday, February 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $54.57.

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About Leggett & Platt

Leggett & Platt, Incorporated is a manufacturer that conceives, designs and produces a range of engineered components and products found in homes, offices and automobiles. The Company operates in four segments: Residential Furnishings, Commercial Products, Industrial Materials and Specialized Products.

Earnings History for Leggett & Platt (NYSE:LEG)

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