Leggett & Platt, Incorporated (LEG) To Go Ex-Dividend on June 14th

Leggett & Platt, Incorporated (NYSE:LEG) announced a quarterly dividend on Tuesday, April 30th, RTT News reports. Shareholders of record on Friday, June 14th will be given a dividend of 0.05 per share on Monday, July 15th. This represents a $0.20 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Friday, June 14th.

Leggett & Platt has increased its dividend by an average of 4.4% per year over the last three years and has raised its dividend annually for the last 53 consecutive years. Leggett & Platt has a payout ratio of 139.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Leggett & Platt to earn $1.32 per share next year, which means the company may not be able to cover its $1.84 annual dividend with an expected future payout ratio of 139.4%.

Leggett & Platt Trading Down 26.6 %

LEG stock opened at $13.27 on Thursday. The stock’s fifty day simple moving average is $18.90 and its 200-day simple moving average is $22.21. Leggett & Platt has a 52-week low of $11.02 and a 52-week high of $33.50. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.84 and a current ratio of 1.49.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.01). Leggett & Platt had a positive return on equity of 10.84% and a negative net margin of 3.44%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the company earned $0.39 earnings per share. The company’s revenue was down 9.6% on a year-over-year basis. Equities analysts predict that Leggett & Platt will post 1.17 EPS for the current year.

Analysts Set New Price Targets

LEG has been the subject of a number of research reports. StockNews.com cut Leggett & Platt from a “hold” rating to a “sell” rating in a report on Monday, March 11th. Truist Financial reduced their target price on shares of Leggett & Platt from $18.00 to $16.00 and set a “hold” rating on the stock in a report on Tuesday, March 26th. TheStreet downgraded Leggett & Platt from a “c” rating to a “d+” rating in a report on Monday, March 11th. Finally, Piper Sandler decreased their target price on Leggett & Platt from $16.00 to $13.00 and set an “underweight” rating for the company in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $17.67.

Leggett & Platt Company Profile

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.