Profile
Sector:
Consumer CyclicalIndustry:
Furnishings, Fixtures & AppliancesCountry:
United StatesIPO:
17 March 1980Website:
http://www.leggett.comNext earnings report:
31 July 2024Last dividends:
14 June 2024Next dividends:
N/APrice
pre-market | 52 min agoAnalysts recommendations
Institutional Ownership
LEG Latest News
Leggett & Platt's share price has declined by more than 80% over the past 3 years, culminating in a drop of over 25% after the recent dividend cut. Recent weakness in the industry and low-cost competition from overseas have caused revenue and margins to decline, ultimately making the hefty dividend payout unsustainable. The company's challenges are real, but the drop in share price offers an opportunity for long-term investors to generate an attractive return.
Leggett & Platt, Incorporated has cut its dividends after 51 consecutive years of dividend hikes. A key lesson I learned for analyzing dividend stocks is to not just look at the yields and simple payout ratios. Instead, analyze the company's financials more holistically. Looking ahead, I am seeing strong EPS headwinds, inventory issues, and stretched balance sheet.
Legget & Platt (LEG) reported earnings 30 days ago. What's next for the stock?
The company experienced decreases in important metrics in its first-quarter results and also reduced its dividend significantly.
Leggett's (LEG) first-quarter performance is impacted by sluggish demand in the majority of its markets.
While the revenue and EPS figures for Legget & Platt (LEG) provide insight into its performance in the quarter ending March 2024, it may be beneficial to also examine how certain key metrics stack up against Wall Street projections and the figures from the same period last year.
Legget & Platt (LEG) reported earnings of $0.23 per share for the quarter, falling short of the Zacks Consensus Estimate of $0.25 per share. This is lower than the $0.39 per share earnings reported in the same quarter last year.
Instead of just focusing on Wall Street's predicted earnings for Legget & Platt (LEG), it is important to examine some of the company's key metrics to better understand its potential performance in the first quarter of 2024.
Investors are often attracted to high-yield stocks because of the potential for substantial returns, but it's important to remember that not all that shines is valuable.
Leggett & Platt has a solid history of paying dividends, but with a current payout ratio of 175%, it is likely unsustainable and could result in a reduction of dividends.
What type of business is Leggett & Platt Incorporated?
Leggett & Platt, Inc. develops, designs, and manufactures a wide range of engineering components and products that can be found in many homes and vehicles. The Company's operations are divided into 15 business units, which are further categorized into 10 groups across four segments: residential products, industrial products, furniture products, and specialized products. The company was founded in Carthage, Missouri, in 1883 and was incorporated in 1901. Today, the Corporation supplies various components and mechanisms used by bedding manufacturers in the production and assembly of their finished products, as well as producing finished mattresses under its own brand for bedding brands and retailers. The company also manufactures and distributes bed foundations for solid surfaces, fabrics, and geo-components.
What sector is Leggett & Platt Incorporated in?
Leggett & Platt Incorporated is in the Consumer Cyclical sector
What industry is Leggett & Platt Incorporated in?
Leggett & Platt Incorporated is in the Furnishings, Fixtures & Appliances industry
What country is Leggett & Platt Incorporated from?
Leggett & Platt Incorporated is headquartered in United States
When did Leggett & Platt Incorporated go public?
Leggett & Platt Incorporated initial public offering (IPO) was on 17 March 1980
What is Leggett & Platt Incorporated website?
https://www.leggett.com
Is Leggett & Platt Incorporated in the S&P 500?
No, Leggett & Platt Incorporated is not included in the S&P 500 index
Is Leggett & Platt Incorporated in the NASDAQ 100?
No, Leggett & Platt Incorporated is not included in the NASDAQ 100 index
Is Leggett & Platt Incorporated in the Dow Jones?
No, Leggett & Platt Incorporated is not included in the Dow Jones index
When does Leggett & Platt Incorporated report earnings?
The next expected earnings date for Leggett & Platt Incorporated is 31 July 2024