Analysts Issue Forecasts for Leggett & Platt FY2027 Earnings

Key Points

• Zacks Research cut its FY2027 EPS estimate for Leggett & Platt to $1.07 from $1.18 and maintained a “Strong Sell” rating, reflecting a more cautious outlook on future earnings.
• The company’s latest quarterly results disappointed, with EPS of $0.15 versus the $0.26 estimate and revenue of $918.2 million below expectations; revenue also fell 10.2% year over year.
• Despite the bearish analyst sentiment, Leggett & Platt continues to return capital to shareholders, declaring a quarterly dividend of $0.05 per share for a 2.0% annualized yield.

Leggett & Platt, Incorporated (NYSE:LEG - Free Report) - Research analysts at Zacks Research lowered their FY2027 EPS estimates for Leggett & Platt in a report released on Wednesday, May 20th. Zacks Research analyst Team now expects that the company will post earnings of $1.07 per share for the year, down from their previous estimate of $1.18. Zacks Research has a "Strong Sell" rating on the stock. The consensus estimate for Leggett & Platt's current full-year earnings is $0.90 per share.

Leggett & Platt (NYSE:LEG - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.11). The company had revenue of $918.20 million during the quarter, compared to the consensus estimate of $946.79 million. Leggett & Platt had a return on equity of 12.62% and a net margin of 5.69%.The business's revenue was down 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 EPS.

LEG has been the topic of several other research reports. Truist Financial lowered their price objective on shares of Leggett & Platt from $13.00 to $11.00 and set a "hold" rating on the stock in a research report on Friday, May 8th. Weiss Ratings raised shares of Leggett & Platt from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, May 15th. Finally, Wall Street Zen lowered shares of Leggett & Platt from a "buy" rating to a "hold" rating in a research report on Saturday, February 21st. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus price target of $11.33.

Leggett & Platt Stock Performance

Shares of LEG stock opened at $10.03 on Friday. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 6.23 and a beta of 0.75. The company has a debt-to-equity ratio of 1.44, a quick ratio of 1.45 and a current ratio of 2.33. Leggett & Platt has a 52 week low of $7.86 and a 52 week high of $13.00. The firm's 50-day simple moving average is $10.32 and its two-hundred day simple moving average is $10.85.

Institutional Trading of Leggett & Platt

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE raised its position in shares of Leggett & Platt by 11.1% in the first quarter. Bank of America Corp DE now owns 1,340,918 shares of the company's stock valued at $13,248,000 after purchasing an additional 134,091 shares during the period. Kentucky Retirement Systems bought a new stake in shares of Leggett & Platt in the first quarter valued at approximately $115,000. Amundi raised its position in shares of Leggett & Platt by 11.3% in the first quarter. Amundi now owns 24,274 shares of the company's stock valued at $240,000 after purchasing an additional 2,472 shares during the period. California State Teachers Retirement System raised its position in shares of Leggett & Platt by 33.1% in the first quarter. California State Teachers Retirement System now owns 164,811 shares of the company's stock valued at $1,628,000 after purchasing an additional 40,952 shares during the period. Finally, Empowered Funds LLC raised its position in shares of Leggett & Platt by 50.7% in the first quarter. Empowered Funds LLC now owns 1,083,983 shares of the company's stock valued at $10,710,000 after purchasing an additional 364,544 shares during the period. Institutional investors own 64.23% of the company's stock.

Leggett & Platt Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th were given a $0.05 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 2.0%. Leggett & Platt's payout ratio is 12.42%.

Key Leggett & Platt News

Here are the key news stories impacting Leggett & Platt this week:

• Positive Sentiment: The Board declared a second-quarter cash dividend of $0.05 per share, which reinforces Leggett & Platt’s ongoing shareholder return policy and may appeal to income-focused investors. Leggett & Platt Announces Quarterly Dividend and Annual Meeting Results
• Neutral Sentiment: Annual meeting voting reportedly aligned with the Board’s recommendations, suggesting no major governance surprise for shareholders. Leggett & Platt Announces Quarterly Dividend and Annual Meeting Results
• Negative Sentiment: Zacks Research lowered multiple earnings estimates for Leggett & Platt, including FY2026 to $0.96 from $1.07 and FY2028 to $1.19 from $1.29, signaling softer expectations for future profitability.
• Negative Sentiment: The firm kept a “Strong Sell” rating on LEG, which can weigh on sentiment and reinforce concerns about the company’s earnings outlook.

Leggett & Platt Company Profile

Leggett & Platt, Inc is a diversified manufacturer specializing in the design, engineering and production of a wide range of engineered components and products. The company's offerings span several end markets, including residential bedding, commercial and residential furniture, automotive seating and interiors, aerospace applications and industrial products. By integrating product design with proprietary manufacturing processes, Leggett & Platt serves as a key supplier to both original equipment manufacturers and aftermarket distributors.

The company's core product lines include coil springs and support systems for mattresses and furniture, adjustable bed mechanisms, engineered components such as extruded and formed metal products, and specialty foam and bedding products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.