Leggett & Platt, Incorporated (NYSE:LEG) Receives Average Recommendation of “Hold” from Brokerages

Leggett & Platt, Incorporated (NYSE:LEG) has received a consensus rating of “Hold” from the five research firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $11.00.

LEG has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Leggett & Platt in a report on Wednesday. Wall Street Zen lowered Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Truist Financial raised their target price on Leggett & Platt from $10.00 to $12.00 and gave the stock a “hold” rating in a research note on Wednesday, October 29th. Zacks Research upgraded Leggett & Platt from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Finally, The Goldman Sachs Group restated a “neutral” rating and set a $11.00 price target on shares of Leggett & Platt in a report on Wednesday, October 29th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in LEG. Palisade Asset Management LLC bought a new stake in shares of Leggett & Platt during the third quarter valued at approximately $29,000. Quent Capital LLC bought a new position in shares of Leggett & Platt in the 3rd quarter worth $34,000. Advisory Services Network LLC acquired a new stake in Leggett & Platt in the 3rd quarter valued at $51,000. Nisa Investment Advisors LLC acquired a new stake in Leggett & Platt in the 2nd quarter valued at $76,000. Finally, State of Wyoming bought a new stake in Leggett & Platt during the 1st quarter valued at $89,000. Institutional investors own 64.23% of the company’s stock.

Leggett & Platt Stock Performance

NYSE:LEG opened at $9.24 on Friday. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.36 and a current ratio of 2.15. Leggett & Platt has a fifty-two week low of $6.47 and a fifty-two week high of $13.20. The company has a 50 day simple moving average of $9.03 and a two-hundred day simple moving average of $9.29. The company has a market capitalization of $1.25 billion, a PE ratio of 5.74 and a beta of 0.74.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Monday, October 27th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). Leggett & Platt had a net margin of 5.38% and a return on equity of 16.27%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the company posted $0.32 earnings per share. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. Leggett & Platt has set its FY 2025 guidance at 1.000-1.100 EPS. Research analysts anticipate that Leggett & Platt will post 1.14 earnings per share for the current year.

Leggett & Platt Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, December 15th. Leggett & Platt’s dividend payout ratio is 12.42%.

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.