Zacks Research Forecasts Weaker Earnings for Leggett & Platt

Leggett & Platt, Incorporated (NYSE:LEG) – Research analysts at Zacks Research reduced their FY2024 EPS estimates for shares of Leggett & Platt in a research 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 prior estimate 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 released its quarterly earnings data on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing the consensus estimate 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 business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the previous year, the business posted $0.36 earnings per share. Leggett & Platt’s quarterly revenue was down 6.3% compared to the same quarter last year.

Other analysts have also issued research reports about the company. StockNews.com raised Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. Truist Financial upped their price target on shares of 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 raised their price objective for the stock from $11.00 to $13.00 in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $12.67.

Leggett & Platt Trading Down 0.5 %

NYSE:LEG opened at $12.07 on Tuesday. The company has a market cap of $1.62 billion, a PE ratio of -2.01 and a beta of 1.07. The company has a current ratio of 1.48, a quick ratio of 0.84 and a debt-to-equity ratio of 2.13. The company has a 50 day simple moving average of $12.71 and a two-hundred day simple moving average of $12.46. Leggett & Platt has a 12 month low of $10.11 and a 12 month high of $27.58.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Leggett & Platt by 155.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 48,716 shares of the company’s stock valued at $933,000 after buying an additional 29,677 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Leggett & Platt by 66.8% during the first quarter. BNP Paribas Financial Markets now owns 70,271 shares of the company’s stock worth $1,346,000 after purchasing an additional 28,149 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in Leggett & Platt by 1.5% during the 1st quarter. Texas Permanent School Fund Corp now owns 115,556 shares of the company’s stock valued at $2,213,000 after purchasing an additional 1,730 shares during the period. Illinois Municipal Retirement Fund lifted its holdings in Leggett & Platt by 121.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 62,120 shares of the company’s stock worth $1,190,000 after purchasing an additional 34,053 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Leggett & Platt by 0.3% in the 1st quarter. Swiss National Bank now owns 263,300 shares of the company’s stock worth $5,042,000 after purchasing an additional 900 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.