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 Performance

Shares of Leggett & Platt stock traded up $0.44 on Tuesday, reaching $12.61. 207,342 shares of the stock were exchanged, compared to its average volume of 2,296,310. The company has a current ratio of 1.53, a quick ratio of 0.88 and a debt-to-equity ratio of 2.55. The firm has a market capitalization of $1.69 billion, a PE ratio of -10.48 and a beta of 1.07. Leggett & Platt has a 1-year low of $10.11 and a 1-year high of $27.58. The business has a fifty day moving average price of $12.79 and a two-hundred day moving average price of $12.86.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The company had revenue of $1.10 billion for 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%. Leggett & Platt’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.36 earnings per share. As a group, research analysts anticipate that Leggett & Platt will post 1.14 earnings per share for the current fiscal year.

Leggett & Platt Dividend Announcement

The company 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 dividend on an annualized basis and a dividend 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 Analyst Weigh In

LEG has been the topic of several recent analyst reports. The Goldman Sachs Group reduced their target price on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report 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. Finally, Truist Financial lifted their price objective on Leggett & Platt from $11.00 to $13.00 and gave the company a “hold” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus 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.