Advertisement
Singapore markets closed
  • Straits Times Index

    3,224.01
    -27.70 (-0.85%)
     
  • Nikkei

    40,369.44
    +201.37 (+0.50%)
     
  • Hang Seng

    16,541.42
    +148.58 (+0.91%)
     
  • FTSE 100

    7,952.62
    +20.64 (+0.26%)
     
  • Bitcoin USD

    70,066.02
    -548.88 (-0.78%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • S&P 500

    5,254.35
    +5.86 (+0.11%)
     
  • Dow

    39,807.37
    +47.29 (+0.12%)
     
  • Nasdaq

    16,379.46
    -20.06 (-0.12%)
     
  • Gold

    2,254.80
    +16.40 (+0.73%)
     
  • Crude Oil

    83.11
    -0.06 (-0.07%)
     
  • 10-Yr Bond

    4.2060
    +0.0100 (+0.24%)
     
  • FTSE Bursa Malaysia

    1,535.20
    +4.60 (+0.30%)
     
  • Jakarta Composite Index

    7,288.81
    -21.28 (-0.29%)
     
  • PSE Index

    6,903.53
    +5.36 (+0.08%)
     

Why Leggett & Platt (LEG) Might Surprise This Earnings Season

Investors are always looking for stocks that are poised to beat at earnings season and Leggett & Platt, Incorporated LEG, may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.

That is because Leggett & Platt is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for LEG in this report.

In fact, the Most Accurate Estimate for the current quarter is currently at 73 cents per share for LEG, compared to a broader Zacks Consensus Estimate of 70 cents per share. This suggests that analysts have very recently bumped up their estimates for LEG, giving the stock a Zacks Earnings ESP of +4.29% heading into earnings season.

Leggett & Platt, Incorporated Price and EPS Surprise

Leggett & Platt, Incorporated Price and EPS Surprise
Leggett & Platt, Incorporated Price and EPS Surprise

Leggett & Platt, Incorporated price-eps-surprise | Leggett & Platt, Incorporated Quote

Why is this Important?

A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).

ADVERTISEMENT

Given that LEG has a Zacks Rank #3  and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 Rank stocks here.

Clearly, recent earnings estimate revisions suggest that good things are ahead for Leggett & Platt, and that a beat might be in the cards for the upcoming report.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Leggett & Platt, Incorporated (LEG) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research