FY2024 EPS Estimates for Leggett & Platt Lowered by Analyst

Leggett & Platt, Incorporated (NYSE:LEG) – Equities researchers at Zacks Research dropped their FY2024 earnings per share (EPS) estimates for shares of Leggett & Platt in a research report issued to clients and investors on Monday, November 11th. Zacks Research analyst A. Gupta now expects that the company will earn $1.07 per share for the year, down from their prior forecast of $1.17. The consensus estimate for Leggett & Platt’s current full-year earnings is $1.04 per share. Zacks Research also issued estimates for Leggett & Platt’s Q4 2024 earnings at $0.23 EPS, Q1 2025 earnings at $0.24 EPS, Q3 2025 earnings at $0.34 EPS, Q4 2025 earnings at $0.30 EPS, FY2025 earnings at $1.18 EPS, Q1 2026 earnings at $0.28 EPS, Q2 2026 earnings at $0.34 EPS, Q3 2026 earnings at $0.38 EPS and FY2026 earnings at $1.32 EPS.

A number of other research analysts have also recently commented on the company. StockNews.com upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. 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. Finally, Piper Sandler raised shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $11.00 to $13.00 in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $12.67.

Leggett & Platt Stock Performance

Shares of LEG opened at $11.87 on Tuesday. Leggett & Platt has a one year low of $10.11 and a one year high of $27.58. The company has a 50-day simple moving average of $12.70 and a two-hundred day simple moving average of $12.42. The company has a debt-to-equity ratio of 2.13, a current ratio of 1.48 and a quick ratio of 0.84. The firm has a market capitalization of $1.59 billion, a PE ratio of -1.97 and a beta of 1.07.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. Leggett & Platt’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.36 EPS.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arizona State Retirement System grew its stake in shares of Leggett & Platt by 2.2% in the second quarter. Arizona State Retirement System now owns 37,438 shares of the company’s stock worth $429,000 after acquiring an additional 799 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Leggett & Platt by 76.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company’s stock valued at $28,000 after purchasing an additional 884 shares during the last quarter. Swiss National Bank increased its stake in Leggett & Platt by 0.3% during the 1st quarter. Swiss National Bank now owns 263,300 shares of the company’s stock valued at $5,042,000 after purchasing an additional 900 shares in the last quarter. Abich Financial Wealth Management LLC raised its holdings in Leggett & Platt by 93.2% in the first quarter. Abich Financial Wealth Management LLC now owns 1,930 shares of the company’s stock worth $37,000 after buying an additional 931 shares during the last quarter. Finally, MQS Management LLC lifted its stake in shares of Leggett & Platt by 8.3% in the first quarter. MQS Management LLC now owns 13,366 shares of the company’s stock worth $256,000 after buying an additional 1,027 shares in the last quarter. Institutional investors own 64.23% of the company’s stock.

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.