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 (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.

Wall Street Analysts Forecast Growth

LEG has been the subject of several recent research reports. Truist Financial boosted their target price on shares of Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. The Goldman Sachs Group dropped 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. Finally, StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. One investment analyst has rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat.com, Leggett & Platt presently has an average rating of “Hold” and a consensus target price of $12.67.

Leggett & Platt Stock Performance

Shares of NYSE LEG traded down $0.01 during mid-day trading on Monday, reaching $12.16. 1,934,334 shares of the company’s stock were exchanged, compared to its average volume of 2,306,336. Leggett & Platt has a 52 week low of $10.11 and a 52 week high of $27.58. The firm has a 50-day moving average price of $12.79 and a two-hundred day moving average price of $12.86. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of -10.48 and a beta of 1.07. The company has a debt-to-equity ratio of 2.55, a current ratio of 1.53 and a quick ratio of 0.88.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.29 EPS for the quarter, meeting 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 company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.13 billion. Analysts predict that Leggett & Platt will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

The company also recently disclosed 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. This represents a $0.20 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Friday, September 13th. Leggett & Platt’s dividend payout ratio (DPR) is -17.24%.

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.