Leggett & Platt Q1 EPS Forecast Reduced by Zacks Research

Leggett & Platt, Incorporated (NYSE:LEG - Free Report) - Stock analysts at Zacks Research lowered their Q1 2025 earnings per share estimates for shares of Leggett & Platt in a research note issued to investors on Tuesday, April 22nd. Zacks Research analyst R. Department now forecasts that the company will post earnings of $0.24 per share for the quarter, down from their prior forecast of $0.25. The consensus estimate for Leggett & Platt's current full-year earnings is $1.14 per share.

LEG has been the topic of several other reports. The Goldman Sachs Group reduced their price target on Leggett & Platt from $14.00 to $12.00 and set a "neutral" rating on the stock in a research note on Tuesday, January 14th. Truist Financial decreased their price target on shares of Leggett & Platt from $13.00 to $11.00 and set a "hold" rating for the company in a research note on Wednesday, January 29th. Finally, Piper Sandler reissued a "neutral" rating and set a $9.00 price objective (down previously from $12.00) on shares of Leggett & Platt in a research note on Friday, April 11th.

Leggett & Platt Trading Up 28.0 %

LEG stock traded up $2.04 during trading on Thursday, reaching $9.31. The company had a trading volume of 5,404,099 shares, compared to its average volume of 2,548,551. Leggett & Platt has a 52 week low of $6.47 and a 52 week high of $18.28. The business has a 50 day moving average of $7.95 and a 200 day moving average of $10.04. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.00 and a quick ratio of 1.14. The company has a market cap of $1.25 billion, a P/E ratio of -2.50 and a beta of 0.98.

Leggett & Platt (NYSE:LEG - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.02 billion. During the same quarter in the previous year, the business posted $0.23 earnings per share. The firm's revenue for the quarter was down 6.8% compared to the same quarter last year.

Leggett & Platt Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Friday, March 14th. Leggett & Platt's payout ratio is -5.36%.

Institutional Trading of Leggett & Platt

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in Leggett & Platt by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,156,322 shares of the company's stock valued at $29,377,000 after purchasing an additional 60,166 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Leggett & Platt by 38.0% during the third quarter. JPMorgan Chase & Co. now owns 581,665 shares of the company's stock valued at $7,922,000 after purchasing an additional 160,104 shares during the last quarter. GAMMA Investing LLC lifted its position in Leggett & Platt by 2,069.7% during the fourth quarter. GAMMA Investing LLC now owns 12,302 shares of the company's stock valued at $118,000 after purchasing an additional 11,735 shares during the period. Diversified Trust Co purchased a new stake in Leggett & Platt in the fourth quarter worth approximately $255,000. Finally, International Assets Investment Management LLC bought a new stake in Leggett & Platt in the 4th quarter worth approximately $337,000. 64.23% of the stock is currently owned by institutional investors.

About Leggett & Platt

Leggett & Platt, Inc engages in the manufacture and distribution of furniture and engineered components and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding Products, Specialized Products, and Furniture, Flooring & Textile Products.