Leggett & Platt (NYSE:LEG) Updates Q4 2024 Earnings Guidance

Leggett & Platt (NYSE:LEG) updated its fourth quarter 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of 0.160-0.260 for the period, compared to the consensus estimate of 0.280. The company issued revenue guidance of $973.0 million-$1.1 billion, compared to the consensus revenue estimate of $1.1 billion. Leggett & Platt also updated its FY 2024 guidance to 1.000-1.100 EPS.

Leggett & Platt Price Performance

NYSE:LEG traded down $0.01 during mid-day trading on Thursday, reaching $12.12. 1,037,945 shares of the company were exchanged, compared to its average volume of 2,303,808. Leggett & Platt has a 12 month low of $10.11 and a 12 month high of $27.58. The company has a quick ratio of 0.88, a current ratio of 1.53 and a debt-to-equity ratio of 2.55. The stock has a market cap of $1.63 billion, a PE ratio of -2.01 and a beta of 1.07. The company has a fifty day moving average of $12.80 and a 200 day moving average of $12.82.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. Leggett & Platt had a positive return on equity of 12.65% and a negative net margin of 18.05%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 EPS. On average, research analysts anticipate that Leggett & Platt will post 1.14 EPS for the current fiscal year.

Leggett & Platt Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.65%. The ex-dividend date was Friday, September 13th. Leggett & Platt’s dividend payout ratio (DPR) is -3.33%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LEG. Piper Sandler upgraded shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $11.00 to $13.00 in a report on Wednesday. Truist Financial lifted their price target on Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a report on Monday, August 5th. StockNews.com upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Finally, The Goldman Sachs Group reduced their target price on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of “Hold” and an average price target of $12.67.

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.