Leggett & Platt (NYSE:LEG) Issues 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 FY24 guidance to $1.00-1.10 EPS.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group lowered their price target on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. StockNews.com upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. Finally, Truist Financial boosted their target price 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. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $12.67.

Leggett & Platt Price Performance

LEG stock remained flat at $12.17 on Monday. 1,930,881 shares of the company traded hands, compared to its average volume of 2,306,336. Leggett & Platt has a 1 year low of $10.11 and a 1 year high of $27.58. 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 fifty day simple moving average of $12.79 and a two-hundred day simple moving average of $12.90. The firm has a market cap of $1.63 billion, a PE ratio of -10.49 and a beta of 1.07.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.29 EPS for the quarter, hitting the consensus estimate of $0.29. Leggett & Platt had a negative net margin of 18.05% and a positive return on equity of 12.65%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. Equities research analysts expect 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. Stockholders of record on Friday, September 13th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend was Friday, September 13th. Leggett & Platt’s payout ratio is currently -17.24%.

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.