Leggett & Platt, Incorporated (LEG) To Go Ex-Dividend on December 13th

Leggett & Platt, Incorporated (NYSE:LEG) declared a quarterly dividend on Thursday, November 7th,RTT News reports. Stockholders of record on Friday, December 13th will be given a dividend of 0.05 per share on Wednesday, January 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date is Friday, December 13th.

Leggett & Platt has increased its dividend by an average of 4.4% per year over the last three years. Leggett & Platt has a payout ratio of 16.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Leggett & Platt to earn $1.18 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 16.9%.

Leggett & Platt Price Performance

Leggett & Platt stock opened at $11.98 on Wednesday. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.48 and a quick ratio of 0.84. The stock has a market cap of $1.61 billion, a price-to-earnings ratio of -1.99 and a beta of 1.07. The firm has a 50-day moving average of $12.43 and a two-hundred day moving average of $12.29. Leggett & Platt has a 1 year low of $10.11 and a 1 year high of $27.58.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 EPS. On average, research analysts forecast that Leggett & Platt will post 1.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on LEG shares. Piper Sandler upgraded 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 note on Wednesday, October 30th. StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Leggett & Platt currently has a consensus rating of “Hold” and an average price target 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.