Key Details
Price
$10.02Last Dividend
$0.05TTM Dividend Yield
6.09%Annual ROE
-9.20%Beta
0.52Events Calendar
Next earnings date:
Feb 13, 2025Recent quarterly earnings:
Oct 28, 2024Recent annual earnings:
Feb 8, 2024Next ex-dividend date:
N/ARecent ex-dividend date:
Dec 13, 2024Next split:
N/ARecent split:
Jun 16, 1998Analyst ratings
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Leggett & Platt's vertical integration and restructuring plans are expected to enhance operating margins and free cash flow growth, making the stock undervalued at $9-$10. The company's stock repurchase program at $20 per share indicates confidence in its valuation, suggesting significant upside potential from the current price. Potential sale of the Aerospace segment could inject cash, reduce net debt, and improve overall valuation, further supporting the bullish outlook.
Legget & Platt (LEG) reported earnings 30 days ago. What's next for the stock?
LEG Immobilien is a compelling value play in the German residential real estate market, benefiting from improved investor sentiment and declining interest rates. The company's resilient operational performance and strategic shift from balance sheet management to growth mode have driven a 43% share price increase in 2024. The recent acquisition of Black Capital Partners at a significant discount is expected to enhance earnings growth and provide revenue and cost synergies.
Leggett & Platt, a former Dividend King, was forced to cut their dividend by 89% earlier this year due to headwinds. The company now expects to use freed-up capital to pay down debt and deleverage towards their long-term target of 2.0x. With the dividend reset, LEG is expected to cover the dividend with free cash flow by the end of 2024.
We might see a slimmed-down company in the near future.
LEG's third-quarter 2024 results reflect soft demand trends in residential end markets and headwinds due to ongoing economic challenges.
Leggett & Platt, Incorporated (NYSE:LEG ) Q3 2024 Earnings Conference Call October 29, 2024 8:30 AM ET Company Participants Cassie Branscum - Vice President, Investor Relations Karl Glassman - Chief Executive Officer Ben Burns - Chief Financial Officer Tyson Hagale - President, Bedding Products Sam Smith - President, Furniture, Flooring & Textile Products Conference Call Participants Susan Maklari - Goldman Sachs Bobby Griffin - Raymond James Peter Keith - Piper Sandler Judy Merrick - Truist Securities Operator Greetings and welcome to the Leggett & Platt Third Quarter 2024 Webcast and Earnings Conference Call. At this time, all participants are in a listen-only mode.
While the top- and bottom-line numbers for Legget & Platt (LEG) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Legget & Platt (LEG) came out with quarterly earnings of $0.32 per share, missing the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.36 per share a year ago.
CARTHAGE, Mo. , Oct. 28, 2024 /PRNewswire/ -- 3Q sales of $1.1 billion, a 6% decrease vs 3Q23 3Q EPS of $.33; 3Q adjusted1 EPS of $.32, a $.04 decrease vs adjusted1 3Q23 EPS 2024 EPS guidance is ($3.56)–($3.71), including impact of non-cash goodwill impairment charge, restructuring charges, real estate gains, and certain other costs 2024 guidance lowered: adjusted1 EPS of $1.00–$1.10, sales of $4.3–$4.4 billion President and CEO Karl Glassman commented, "We continued to make solid progress on our restructuring and operating efficiency improvement initiatives, although demand headwinds were more challenging than anticipated in the third quarter.
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