Zacks Research Equities Analysts Increase Earnings Estimates for Leggett & Platt, Incorporated (NYSE:LEG)

Leggett & Platt, Incorporated (NYSE:LEGFree Report) – Analysts at Zacks Research raised their Q1 2024 earnings estimates for Leggett & Platt in a report released on Wednesday, April 10th. Zacks Research analyst A. Gupta now anticipates that the company will earn $0.28 per share for the quarter, up from their prior forecast of $0.27. The consensus estimate for Leggett & Platt’s current full-year earnings is $1.17 per share. Zacks Research also issued estimates for Leggett & Platt’s Q3 2024 earnings at $0.35 EPS, FY2024 earnings at $1.20 EPS, Q1 2025 earnings at $0.31 EPS, FY2025 earnings at $1.32 EPS, Q1 2026 earnings at $0.41 EPS and FY2026 earnings at $1.71 EPS.

Several other equities analysts also recently weighed in on LEG. TheStreet downgraded shares of Leggett & Platt from a “c” rating to a “d+” rating in a research note on Monday, March 11th. StockNews.com cut shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Monday, March 11th. Finally, Truist Financial lowered their price target on shares of Leggett & Platt from $18.00 to $16.00 and set a “hold” rating for the company in a report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to MarketBeat.com, Leggett & Platt presently has an average rating of “Hold” and a consensus price target of $19.33.

Read Our Latest Report on Leggett & Platt

Leggett & Platt Stock Performance

LEG opened at $17.66 on Monday. The company has a quick ratio of 0.84, a current ratio of 1.49 and a debt-to-equity ratio of 1.26. The company has a market cap of $2.36 billion, a price-to-earnings ratio of -17.66 and a beta of 1.17. Leggett & Platt has a 52-week low of $17.59 and a 52-week high of $33.50. The firm’s fifty day simple moving average is $19.81 and its two-hundred day simple moving average is $22.87.

Leggett & Platt (NYSE:LEGGet Free Report) last released its quarterly earnings results on Friday, February 9th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.01). The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. Leggett & Platt had a negative net margin of 2.90% and a positive return on equity of 11.99%. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.39 EPS.

Hedge Funds Weigh In On Leggett & Platt

Institutional investors have recently bought and sold shares of the company. TFO Wealth Partners LLC grew its stake in shares of Leggett & Platt by 10,833.3% during the 4th quarter. TFO Wealth Partners LLC now owns 656 shares of the company’s stock worth $157,000 after purchasing an additional 650 shares during the period. Point72 Asset Management L.P. purchased a new position in Leggett & Platt in the 2nd quarter valued at about $28,000. Ramirez Asset Management Inc. purchased a new position in Leggett & Platt in the 3rd quarter valued at about $25,000. Fifth Third Bancorp lifted its holdings in shares of Leggett & Platt by 253.3% during the 4th quarter. Fifth Third Bancorp now owns 1,007 shares of the company’s stock worth $26,000 after acquiring an additional 722 shares during the period. Finally, Quent Capital LLC lifted its holdings in shares of Leggett & Platt by 133.6% during the 3rd quarter. Quent Capital LLC now owns 1,014 shares of the company’s stock worth $26,000 after acquiring an additional 580 shares during the period. 64.23% of the stock is owned by institutional investors and hedge funds.

Leggett & Platt Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 15th will be given a $0.46 dividend. The ex-dividend date is Thursday, March 14th. This represents a $1.84 annualized dividend and a yield of 10.42%. Leggett & Platt’s dividend payout ratio (DPR) is -184.00%.

Leggett & Platt Company Profile

(Get Free Report)

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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Earnings History and Estimates for Leggett & Platt (NYSE:LEG)

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