Leggett & Platt (LEG) Set to Announce Earnings on Monday

Leggett & Platt (NYSE:LEG) is scheduled to be posting its quarterly earnings results after the market closes on Monday, October 28th. Analysts expect Leggett & Platt to post earnings of $0.33 per share for the quarter. Leggett & Platt has set its FY24 guidance at $1.10-1.25 EPS and its FY 2024 guidance at 1.100-1.250 EPS.Individual interested in listening to the company’s earnings conference call can do so using this link.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.29 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.29. Leggett & Platt had a negative net margin of 18.05% and a positive return on equity of 12.65%. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.13 billion. On average, analysts expect Leggett & Platt to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Leggett & Platt Stock Up 0.7 %

Shares of Leggett & Platt stock opened at $13.56 on Monday. Leggett & Platt has a 52-week low of $10.11 and a 52-week high of $27.58. The company has a 50 day moving average of $12.78 and a 200 day moving average of $13.12. The company has a quick ratio of 0.88, a current ratio of 1.53 and a debt-to-equity ratio of 2.55. The company has a market capitalization of $1.82 billion, a P/E ratio of -11.69 and a beta of 1.07.

Leggett & Platt Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th were issued a dividend of $0.05 per share. The ex-dividend date was Friday, September 13th. This represents a $0.20 dividend on an annualized basis and a yield of 1.47%. Leggett & Platt’s payout ratio is currently -17.24%.

Analyst Upgrades and Downgrades

LEG has been the topic of a number of research analyst reports. The Goldman Sachs Group cut their price objective 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. StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. Finally, Truist Financial raised their price objective on shares of Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $12.67.

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.