Leggett & Platt Inc. (LEG) Releases FY14 Earnings Guidance
Leggett & Platt Inc. (NYSE:LEG) issued an update on its FY14 earnings guidance on Thursday morning. The company provided EPS guidance of $1.65-1.85 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.72, Stock Ratings Network reports. The company issued revenue guidance of $3.85-4.05 billion, compared to the consensus revenue estimate of $3.89 billion.
Leggett & Platt (NYSE:LEG) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. The company had revenue of $896.80 million for the quarter, compared to the consensus estimate of $891.38 million. During the same quarter last year, the company posted $0.32 earnings per share. Leggett & Platt’s revenue was up 5.5% compared to the same quarter last year.
A number of analysts have recently weighed in on LEG shares. Analysts at Monness Crespi & Hardt upgraded shares of Leggett & Platt from a neutral rating to a buy rating in a research note to investors on Tuesday. They now have a $35.00 price target on the stock. On a related note, analysts at Ned Davis Research upgraded shares of Leggett & Platt from a neutral rating to a buy rating in a research note to investors on Monday, January 6th. Finally, analysts at Ned Davis Research upgraded shares of Leggett & Platt from a neutral rating to a buy rating in a research note to investors on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $32.67.
Leggett & Platt, Incorporated is an international manufacturer that conceives, designs and produces a range of engineered components and products found in many homes, offices, retail stores, automobiles and commercial aircraft.
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