The upcoming report from Legget & Platt (LEG) is expected to reveal quarterly earnings of $0.22 per share, indicating an increase of 4.8% compared to the year-ago period. Analysts forecast revenues of $931.77 million, representing a decline of 11.8% year over year.
The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Given this perspective, it's time to examine the average forecasts of specific Legget & Platt metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts forecast 'Trade sales- Furniture, Flooring and Textile Products' to reach $323.27 million. The estimate indicates a change of -2.8% from the prior-year quarter.
The combined assessment of analysts suggests that 'Trade sales- Specialized Products' will likely reach $233.78 million. The estimate indicates a year-over-year change of -23%.
Analysts expect 'Trade sales- Bedding Products' to come in at $374.72 million. The estimate indicates a change of -10.8% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'EBIT- Specialized Products' of $17.27 million. The estimate compares to the year-ago value of $25.40 million.
Based on the collective assessment of analysts, 'EBIT- Furniture, Flooring and Textile Products' should arrive at $11.97 million. The estimate compares to the year-ago value of $16.60 million.
The consensus among analysts is that 'Adjusted EBIT- Specialized Products' will reach $19.05 million. The estimate compares to the year-ago value of $30.40 million.
According to the collective judgment of analysts, 'Adjusted EBIT- Bedding Products' should come in at $19.80 million. The estimate is in contrast to the year-ago figure of $8.20 million.
The consensus estimate for 'Adjusted EBIT- Furniture, Flooring & Textile ProductsC' stands at $14.95 million. Compared to the current estimate, the company reported $16.90 million in the same quarter of the previous year.
View all Key Company Metrics for Legget & Platt here>>>
Over the past month, shares of Legget & Platt have returned +3.4% versus the Zacks S&P 500 composite's no change. Currently, LEG carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Leggett & Platt, Incorporated (LEG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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