FY2024 EPS Estimates for Leggett & Platt Reduced by Analyst

Leggett & Platt, Incorporated (NYSE:LEG) – Research analysts at Zacks Research dropped their FY2024 earnings per share (EPS) estimates for Leggett & Platt in a research report issued on Monday, November 11th. Zacks Research analyst A. Gupta now forecasts that the company will earn $1.07 per share for the year, down from their previous 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.

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

LEG has been the subject of a number of other research reports. Truist Financial lifted their price target 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 upgraded shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $11.00 to $13.00 in a research report on Wednesday, October 30th. Finally, StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Leggett & Platt presently has a consensus rating of “Hold” and a consensus price target of $12.67.

Leggett & Platt Price Performance

NYSE:LEG opened at $11.87 on Tuesday. Leggett & Platt has a 52-week low of $10.11 and a 52-week high of $27.58. The stock has a fifty day moving average of $12.70 and a 200 day moving average of $12.42. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.84 and a current ratio of 1.48. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of -1.97 and a beta of 1.07.

Institutional Trading of Leggett & Platt

A number of hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. lifted its stake in Leggett & Platt by 426.2% in the second quarter. Pacer Advisors Inc. now owns 14,042,134 shares of the company’s stock worth $160,923,000 after purchasing an additional 11,373,507 shares during the last quarter. AQR Capital Management LLC grew its position in Leggett & Platt by 1,098.0% during the 2nd quarter. AQR Capital Management LLC now owns 2,005,408 shares of the company’s stock worth $22,160,000 after acquiring an additional 1,838,009 shares during the last quarter. Public Sector Pension Investment Board purchased a new position in Leggett & Platt in the 2nd quarter worth approximately $3,380,000. Invenomic Capital Management LP bought a new stake in Leggett & Platt in the first quarter valued at approximately $4,203,000. Finally, Quantbot Technologies LP boosted its stake in shares of Leggett & Platt by 1,109.0% during the second quarter. Quantbot Technologies LP now owns 238,515 shares of the company’s stock valued at $2,733,000 after purchasing an additional 218,786 shares during the period. Institutional investors own 64.23% of the company’s stock.

Leggett & Platt Company Profile

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.