Earnings and Growth Analysis : Leggett & Platt (NYSE:LEG)

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Earnings results for Leggett & Platt (NYSE:LEG)

Leggett & Platt, Incorporated is expected* to report earnings on 08/02/2021 after market close. The report will be for the fiscal Quarter ending Jun 2021. According to Zacks Investment Research, based on 3 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.51. The reported EPS for the same quarter last year was $0.16.

Leggett & Platt last released its earnings data on May 3rd, 2021. The reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.22. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.13 billion. Its revenue was up 10.1% on a year-over-year basis. Leggett & Platt has generated $2.13 earnings per share over the last year ($2.12 diluted earnings per share) and currently has a price-to-earnings ratio of 22.9. Earnings for Leggett & Platt are expected to grow by 12.18% in the coming year, from $2.71 to $3.04 per share. Leggett & Platt has confirmed that its next quarterly earnings report will be published on Monday, August 2nd, 2021. Leggett & Platt will be holding an earnings conference call on Tuesday, August 3rd at 8:30 AM Eastern. Interested parties can register for or listen to the call using this link.

Analyst Opinion on Leggett & Platt (NYSE:LEG)

3 Wall Street analysts have issued ratings and price targets for Leggett & Platt in the last 12 months. Their average twelve-month price target is $51.33, predicting that the stock has a possible upside of 5.60%. The high price target for LEG is $60.00 and the low price target for LEG is $42.00. There are currently 1 hold rating and 2 buy ratings for the stock, resulting in a consensus rating of “Buy.”

Leggett & Platt has received a consensus rating of Buy. The company’s average rating score is 2.67, and is based on 2 buy ratings, 1 hold rating, and no sell ratings. According to analysts’ consensus price target of $51.33, Leggett & Platt has a forecasted upside of 5.6% from its current price of $48.61. Leggett & Platt has only been the subject of 1 research reports in the past 90 days.

Dividend Strength: Leggett & Platt (NYSE:LEG)

Leggett & Platt is a leading dividend payer. It pays a dividend yield of 3.53%, putting its dividend yield in the top 25% of dividend-paying stocks. Leggett & Platt has been increasing its dividend for 50 years. The dividend payout ratio of Leggett & Platt is 78.87%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, Leggett & Platt will have a dividend payout ratio of 55.26% next year. This indicates that Leggett & Platt will be able to sustain or increase its dividend.

Insiders buying/selling: Leggett & Platt (NYSE:LEG)

In the past three months, Leggett & Platt insiders have sold more of their company’s stock than they have bought. Specifically, they have bought $0.00 in company stock and sold $1,282,302.00 in company stock. Only 1.32% of the stock of Leggett & Platt is held by insiders. 71.94% of the stock of Leggett & Platt is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Leggett & Platt (NYSE:LEG

Earnings for Leggett & Platt are expected to grow by 12.18% in the coming year, from $2.71 to $3.04 per share. The P/E ratio of Leggett & Platt is 22.93, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 22.25. The P/E ratio of Leggett & Platt is 22.93, which means that it is trading at a less expensive P/E ratio than the Consumer Discretionary sector average P/E ratio of about 39.36. Leggett & Platt has a P/B Ratio of 4.63. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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