Leggett & Platt (NYSE:LEG – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 1.100-1.250 for the period, compared to the consensus estimate of 1.110. The company issued revenue guidance of $4.3 billion-$4.5 billion, compared to the consensus revenue estimate of $4.4 billion. Leggett & Platt also updated its FY24 guidance to $1.10-1.25 EPS.
Wall Street Analysts Forecast Growth
LEG has been the topic of several recent research reports. StockNews.com lowered Leggett & Platt from a hold rating to a sell rating in a report on Saturday, July 6th. Truist Financial lowered their target price on shares of Leggett & Platt from $13.00 to $11.00 and set a hold rating for the company in a report on Thursday, June 27th. The Goldman Sachs Group reduced their price objective on shares of Leggett & Platt from $14.00 to $12.00 and set a neutral rating on the stock in a research report on Wednesday, July 10th. Finally, Piper Sandler decreased their price objective on shares of Leggett & Platt from $16.00 to $13.00 and set an underweight rating for the company in a research note on Wednesday, May 1st. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $12.00.
Get Our Latest Stock Analysis on LEG
Leggett & Platt Trading Up 1.0 %
Leggett & Platt (NYSE:LEG – Get Free Report) last issued its earnings results on Thursday, August 1st. The company reported $0.29 EPS for the quarter, hitting analysts’ consensus estimates of $0.29. The business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.13 billion. Leggett & Platt had a negative net margin of 18.05% and a positive return on equity of 10.98%. As a group, research analysts forecast that Leggett & Platt will post 1.11 earnings per share for the current fiscal year.
Insider Transactions at Leggett & Platt
In other Leggett & Platt news, CFO Benjamin Michael Burns purchased 3,850 shares of Leggett & Platt stock in a transaction dated Thursday, June 6th. The stock was acquired at an average price of $12.20 per share, for a total transaction of $46,970.00. Following the acquisition, the chief financial officer now owns 81,362 shares in the company, valued at approximately $992,616.40. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Benjamin Michael Burns purchased 3,850 shares of Leggett & Platt stock in a transaction dated Thursday, June 6th. The stock was purchased at an average cost of $12.20 per share, with a total value of $46,970.00. Following the transaction, the chief financial officer now owns 81,362 shares in the company, valued at approximately $992,616.40. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Srikanth Padmanabhan acquired 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The shares were bought at an average cost of $12.06 per share, for a total transaction of $120,600.00. Following the transaction, the director now owns 38,623 shares of the company’s stock, valued at $465,793.38. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 55,635 shares of company stock valued at $639,547. 1.57% of the stock is currently owned by corporate insiders.
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.
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