Leggett & Platt, (LEG) Earning Somewhat Favorable News Coverage, Analysis Finds
Media coverage about Leggett & Platt, (NYSE:LEG) has been trending somewhat positive this week, Alpha One Sentiment Analysis reports. The research group, a unit of Accern, scores the sentiment of news coverage by reviewing more than 20 million blog and news sources in real time. Alpha One ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Leggett & Platt, earned a coverage optimism score of 0.11 on Alpha One’s scale. Alpha One also gave news articles about the company an impact score of 9 out of 100, meaning that recent news coverage is extremely unlikely to have an impact on the company’s share price in the immediate future.
Here are some of the news articles that may have effected AlphaOne’s rankings:
- Central Valley Community Bancorp (CVCY) EPS Estimated At $0.31 (eleganthomesinla.com)
- Targeted Mover: Leggett & Platt, Incorporated (LEG) – Morning Times (wallstreetmorning.com)
- ETFs with exposure to Leggett & Platt, Inc. : June 15, 2017 (finance.yahoo.com)
- Announcing the 2017 Supply Chains to Admire Winners (bizjournals.com)
- Leggett & Platt, Inc. : LEG-US: Dividend Analysis : June 15th, 2017 (record date) : By the numbers : June 14, 2017 (finance.yahoo.com)
Several brokerages have recently weighed in on LEG. BidaskClub upgraded Leggett & Platt, from a “hold” rating to a “buy” rating in a research report on Saturday. Piper Jaffray Companies assumed coverage on Leggett & Platt, in a research note on Monday, June 5th. They set an “overweight” rating and a $59.00 price objective for the company. Zacks Investment Research lowered Leggett & Platt, from a “buy” rating to a “hold” rating in a research note on Monday, May 15th. Finally, Stifel Nicolaus lifted their price objective on Leggett & Platt, from $48.00 to $52.00 and gave the company a “hold” rating in a research note on Monday, April 3rd. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Leggett & Platt, presently has a consensus rating of “Buy” and a consensus target price of $56.00.
Leggett & Platt, (NYSE LEG) traded up 0.84% during midday trading on Friday, reaching $52.74. The company had a trading volume of 1,324,575 shares. Leggett & Platt, has a 52 week low of $44.02 and a 52 week high of $54.97. The company has a market capitalization of $6.98 billion, a price-to-earnings ratio of 19.20 and a beta of 1.00. The firm has a 50-day moving average price of $52.30 and a 200-day moving average price of $50.18.
Leggett & Platt, (NYSE:LEG) last issued its quarterly earnings results on Thursday, April 27th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.03. Leggett & Platt, had a return on equity of 31.91% and a net margin of 10.14%. The business had revenue of $960.30 million during the quarter, compared to analyst estimates of $958.98 million. During the same quarter in the prior year, the business posted $0.63 EPS. Leggett & Platt,’s revenue for the quarter was up 2.3% compared to the same quarter last year. Analysts expect that Leggett & Platt, will post $2.63 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Thursday, June 15th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Tuesday, June 13th. This is a positive change from Leggett & Platt,’s previous quarterly dividend of $0.34. Leggett & Platt,’s dividend payout ratio is presently 52.36%.
In other Leggett & Platt, news, Director Joseph W. Mcclanathan sold 5,715 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $52.91, for a total value of $302,380.65. Following the completion of the sale, the director now owns 32,314 shares in the company, valued at approximately $1,709,733.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Karl G. Glassman sold 13,277 shares of the stock in a transaction on Monday, May 8th. The stock was sold at an average price of $53.79, for a total value of $714,169.83. Following the completion of the sale, the insider now owns 337,455 shares of the company’s stock, valued at approximately $18,151,704.45. The disclosure for this sale can be found here. Insiders sold a total of 46,320 shares of company stock valued at $2,477,652 in the last quarter. 1.78% of the stock is currently owned by company insiders.
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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.
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