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

Leggett & Platt (NYSE:LEG) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided earnings per share guidance of 0.160-0.260 for the period, compared to the consensus earnings per share 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 Stock Down 0.1 %

NYSE:LEG traded down $0.01 during trading hours on Thursday, reaching $12.12. The company’s stock had a trading volume of 1,037,945 shares, compared to its average volume of 2,303,808. Leggett & Platt has a one year low of $10.11 and a one year high of $27.58. The business’s 50-day moving average is $12.80 and its 200-day moving average is $12.82. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.53 and a quick ratio of 0.88. The company has a market cap of $1.63 billion, a price-to-earnings ratio of -2.01 and a beta of 1.07.

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

Leggett & Platt Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 13th were paid a $0.05 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.20 dividend on an annualized basis and a yield of 1.65%. Leggett & Platt’s payout ratio is presently -3.33%.

Analyst Upgrades and Downgrades

LEG has been the topic of several recent analyst reports. Truist Financial lifted their price target on Leggett & Platt from $11.00 to $13.00 and gave the stock 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 dropped their price objective on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, Piper Sandler upgraded shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and increased their target price for the company from $11.00 to $13.00 in a research note on Wednesday. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price 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.