Leggett & Platt (NYSE:LEG) Issues FY24 Earnings Guidance

by · The Markets Daily

Leggett & Platt (NYSE:LEG – Get Free Report) updated its FY24 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $1.00-1.10 for the period, compared to the consensus estimate of $1.14. The company issued revenue guidance of $4.3-4.4 billion, compared to the consensus revenue estimate of $4.40 billion. Leggett & Platt also updated its FY 2024 guidance to 1.000-1.100 EPS.

Leggett & Platt Price Performance

NYSE LEG opened at $12.66 on Wednesday. The firm’s 50 day moving average is $12.79 and its 200-day moving average is $12.86. 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 company has a market capitalization of $1.70 billion, a PE ratio of -10.91 and a beta of 1.07. Leggett & Platt has a 12-month low of $10.11 and a 12-month high of $27.58.

Leggett & Platt (NYSE:LEG – Get Free Report) last issued 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 the consensus estimate of $1.10 billion. Leggett & Platt had a positive return on equity of 12.65% and a negative net margin of 18.05%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the firm earned $0.36 earnings per share. Equities research analysts anticipate that Leggett & Platt will post 1.14 earnings per share 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 1.58%. The ex-dividend date of this dividend was Friday, September 13th. Leggett & Platt’s dividend payout ratio (DPR) is -17.24%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group cut their target price on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. StockNews.com upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Piper Sandler upgraded Leggett & Platt from an “underweight” rating to a “neutral” rating and increased their price target for the company from $11.00 to $13.00 in a research note on Wednesday. Finally, 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 report on Monday, August 5th. Four research analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $12.67.

Check Out Our Latest Analysis on LEG

Leggett & Platt Company Profile

(Get Free Report)

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.

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