Leggett & Platt (NYSE:LEG – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $1.10-1.25 for the period, compared to the consensus estimate of $1.11. The company issued revenue guidance of $4.30-4.50 billion, compared to the consensus revenue estimate of $4.43 billion. Leggett & Platt also updated its FY 2024 guidance to 1.100-1.250 EPS.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on LEG. The Goldman Sachs Group dropped their target price on shares of Leggett & Platt from $14.00 to $12.00 and set a neutral rating for the company in a report on Wednesday, July 10th. StockNews.com lowered shares of Leggett & Platt from a hold rating to a sell rating in a report on Saturday, July 6th. Truist Financial dropped 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. Finally, Piper Sandler dropped their target price on shares of Leggett & Platt from $16.00 to $13.00 and set an underweight rating for the company in a report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $12.00.
Read Our Latest Report on Leggett & Platt
Leggett & Platt Stock Up 1.0 %
Leggett & Platt (NYSE:LEG – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.29 EPS for the quarter, hitting the consensus estimate of $0.29. Leggett & Platt had a negative net margin of 18.05% and a positive return on equity of 10.98%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. As a group, equities analysts expect that Leggett & Platt will post 1.11 EPS for the current fiscal year.
Insider Buying and Selling at Leggett & Platt
In other Leggett & Platt news, Director Mark A. Blinn bought 6,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was acquired at an average price of $10.74 per share, with a total value of $64,440.00. Following the completion of the purchase, the director now owns 32,302 shares of the company’s stock, valued at $346,923.48. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Mark A. Blinn purchased 6,000 shares of Leggett & Platt stock in a transaction that occurred on Thursday, May 23rd. The stock was bought at an average price of $10.74 per share, with a total value of $64,440.00. Following the completion of the transaction, the director now directly owns 32,302 shares of the company’s stock, valued at $346,923.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Karl G. Glassman purchased 23,800 shares of Leggett & Platt stock in a transaction that occurred on Friday, May 31st. The shares were purchased at an average cost of $11.48 per share, with a total value of $273,224.00. Following the transaction, the chief executive officer now directly owns 1,151,891 shares of the company’s stock, valued at $13,223,708.68. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 55,635 shares of company stock valued at $639,547. Corporate insiders own 1.57% of the company’s stock.
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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