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

Leggett & Platt (NYSE:LEG) updated its fourth quarter earnings guidance on Monday. The company provided EPS guidance of $0.16-0.26 for the period, compared to the consensus EPS estimate of $0.29. The company issued revenue guidance of $0.973-1.073 billion, compared to the consensus revenue estimate of $1.07 billion. Leggett & Platt also updated its FY 2024 guidance to 1.000-1.100 EPS.

Analyst Ratings Changes

LEG has been the subject of a number of analyst reports. Truist Financial upped their price objective on shares of Leggett & Platt from $11.00 to $13.00 and gave the company a “hold” rating in a research report on Monday, August 5th. StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. The Goldman Sachs Group decreased their price target 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. Finally, Piper Sandler upgraded shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $11.00 to $13.00 in a research note on Wednesday. Four research analysts have rated the stock with a hold rating, According to data from MarketBeat, Leggett & Platt currently has an average rating of “Hold” and a consensus price target of $12.67.

Leggett & Platt Trading Up 0.5 %

LEG stock traded up $0.06 during mid-day trading on Thursday, reaching $12.19. 932,425 shares of the stock traded hands, compared to its average volume of 2,303,308. The company has a current ratio of 1.53, a quick ratio of 0.88 and a debt-to-equity ratio of 2.55. The company has a market cap of $1.64 billion, a P/E ratio of -2.01 and a beta of 1.07. Leggett & Platt has a 52-week low of $10.11 and a 52-week high of $27.58. The stock’s fifty day moving average is $12.80 and its 200-day moving average is $12.82.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings results 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 revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.36 EPS. As a group, sell-side analysts expect that Leggett & Platt will post 1.14 earnings per share for the current year.

Leggett & Platt Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.20 annualized dividend and a dividend yield of 1.64%. Leggett & Platt’s dividend payout ratio (DPR) is presently -3.33%.

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.