Leggett & Platt (NYSE:LEG) Releases 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 (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 Stock Down 0.7 %

NYSE LEG traded down $0.09 during trading hours on Wednesday, hitting $12.57. 557,650 shares of the company were exchanged, compared to its average volume of 2,303,580. The company has a 50 day moving average of $12.80 and a two-hundred day moving average of $12.83. The company has a quick ratio of 0.88, a current ratio of 1.53 and a debt-to-equity ratio of 2.55. Leggett & Platt has a 52-week low of $10.11 and a 52-week high of $27.58. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of -10.91 and a beta of 1.07.

Leggett & Platt (NYSE:LEG) last posted 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). The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.10 billion. Leggett & Platt had a negative net margin of 18.05% and a positive return on equity of 12.65%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 earnings per share. Equities research analysts anticipate that Leggett & Platt will post 1.14 earnings per share for the current year.

Leggett & Platt Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Friday, September 13th. Leggett & Platt’s dividend payout ratio is presently -17.24%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. StockNews.com upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. The Goldman Sachs Group lowered their price target on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Truist Financial increased their price target 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. Finally, Piper Sandler upgraded Leggett & Platt from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $11.00 to $13.00 in a report on Wednesday. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.67.

About Leggett & Platt

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.