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

Leggett & Platt (NYSE:LEG) 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 Q4 guidance to $0.16-0.26 EPS.

Leggett & Platt Price Performance

Shares of LEG remained flat at $12.17 on Monday. 1,913,205 shares of the company traded hands, compared to its average volume of 2,306,251. Leggett & Platt has a fifty-two week low of $10.11 and a fifty-two week high of $27.58. The firm has a 50-day moving average price of $12.79 and a 200 day moving average price of $12.90. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of -10.49 and a beta of 1.07. 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 (NYSE:LEG) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.29 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.29. The company had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. Leggett & Platt had a positive return on equity of 12.65% and a negative net margin of 18.05%. Research analysts forecast that Leggett & Platt will post 1.14 EPS for the current year.

Leggett & Platt Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.20 annualized dividend and a dividend yield of 1.64%. Leggett & Platt’s payout ratio is currently -17.24%.

Analysts Set New Price Targets

Several equities analysts recently commented on LEG shares. Truist Financial upped their price target 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. StockNews.com raised Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. Finally, The Goldman Sachs Group lowered their price target on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target 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.