Leggett & Platt (NYSE:LEG – Get Free Report) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share guidance of $1.00-1.10 for the period, compared to the consensus earnings per share 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.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on LEG. Truist Financial raised their price objective on Leggett & Platt from $11.00 to $13.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Piper Sandler raised shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $11.00 to $13.00 in a report on Wednesday. The Goldman Sachs Group cut their price target on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, StockNews.com raised Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, August 28th. Four analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $12.67.
Read Our Latest Stock Analysis on Leggett & Platt
Leggett & Platt Stock Up 0.5 %
Leggett & Platt (NYSE:LEG – Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). Leggett & Platt had a positive return on equity of 12.65% and a negative net margin of 18.05%. The firm had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.10 billion. During the same period in the previous year, the business earned $0.36 EPS. Leggett & Platt’s revenue for the quarter was down 6.3% compared to the same quarter last year. Equities research analysts forecast that Leggett & Platt will post 1.14 earnings per share for the current year.
Leggett & Platt Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 13th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.64%. The ex-dividend date was Friday, September 13th. Leggett & Platt’s payout ratio is currently -3.33%.
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.
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