FY2024 EPS Estimates for Leggett & Platt Lowered by Analyst

Leggett & Platt, Incorporated (NYSE:LEG - Free Report) - Equities research analysts at Zacks Research cut their FY2024 earnings estimates for Leggett & Platt in a note issued to investors on Monday, November 11th. Zacks Research analyst A. Gupta now anticipates that the company will post earnings per share of $1.07 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.

A number of other brokerages have also recently weighed in on LEG. Truist Financial upped their price objective on Leggett & Platt from $11.00 to $13.00 and gave the stock a "hold" rating in a research note on Monday, August 5th. Piper Sandler upgraded shares of Leggett & Platt from an "underweight" rating to a "neutral" rating and lifted their price objective for the stock from $11.00 to $13.00 in a research note on Wednesday, October 30th. Finally, StockNews.com raised Leggett & Platt from a "sell" rating to a "hold" rating in a research report on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $12.67.

Leggett & Platt Trading Down 2.2 %

NYSE LEG traded down $0.26 during trading on Tuesday, hitting $11.81. The stock had a trading volume of 315,705 shares, compared to its average volume of 2,286,023. Leggett & Platt has a one year low of $10.11 and a one year high of $27.58. 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 stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -2.01 and a beta of 1.07. The stock has a 50 day simple moving average of $12.71 and a 200 day simple moving average of $12.46.

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

Hedge Funds Weigh In On Leggett & Platt

Institutional investors have recently made changes to their positions in the company. Pacer Advisors Inc. raised its position in shares of Leggett & Platt by 426.2% during the 2nd 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 boosted its position in shares of 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 valued at $22,160,000 after acquiring an additional 1,838,009 shares during the last quarter. Public Sector Pension Investment Board acquired a new stake in Leggett & Platt during the second quarter worth about $3,380,000. Invenomic Capital Management LP purchased a new stake in shares of Leggett & Platt during the 1st quarter valued at approximately $4,203,000. Finally, Quantbot Technologies LP increased its holdings in Leggett & Platt by 1,109.0% in the 2nd 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 last quarter. 64.23% of the stock is owned by hedge funds and other institutional investors.

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.