Leggett & Platt (NYSE:LEG – Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.05-$1.35 for the period, compared to the consensus EPS estimate of $1.16. The company issued revenue guidance of $4.35-$4.65 billion, compared to the consensus revenue estimate of $4.50 billion.
Leggett & Platt Price Performance
NYSE:LEG traded down $0.26 during trading hours on Tuesday, hitting $18.07. The stock had a trading volume of 2,268,661 shares, compared to its average volume of 1,649,207. The business has a 50 day simple moving average of $19.09 and a two-hundred day simple moving average of $22.32. Leggett & Platt has a 1-year low of $17.19 and a 1-year high of $33.50. The company has a quick ratio of 0.84, a current ratio of 1.49 and a debt-to-equity ratio of 1.26.
Leggett & Platt (NYSE:LEG – Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). Leggett & Platt had a positive return on equity of 11.99% and a negative net margin of 2.90%. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the firm posted $0.39 EPS. The company’s revenue was down 9.6% compared to the same quarter last year. Analysts expect that Leggett & Platt will post 1.17 EPS for the current year.
Leggett & Platt Cuts Dividend
Wall Street Analysts Forecast Growth
A number of research firms have commented on LEG. StockNews.com downgraded Leggett & Platt from a hold rating to a sell rating in a report on Monday, March 11th. Truist Financial reduced their price target on shares of Leggett & Platt from $18.00 to $16.00 and set a hold rating for the company in a research note on Tuesday, March 26th. Finally, TheStreet cut Leggett & Platt from a c rating to a d+ rating in a report on Monday, March 11th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat.com, Leggett & Platt currently has a consensus rating of Hold and an average price target of $19.33.
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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