LEG Immobilien (OTCMKTS:LEGIF) Shares Gap Down - Here's Why

Key Points

• LEG Immobilien shares gapped down significantly, opening at $78.19 after a previous close of $85.41, representing an 8.3% drop.
• BNP Paribas downgraded the stock from a "neutral" rating to an "underperform," contributing to the negative sentiment around the stock.
• The company's recent earnings report revealed an EPS of $1.39, which fell short of analysts' expectations of $2.06, despite revenue exceeding estimates at $268.94 million.

LEG Immobilien AG (OTCMKTS:LEGIF - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $85.41, but opened at $78.19. LEG Immobilien shares last traded at $78.19, with a volume of 213 shares.

Wall Street Analysts Forecast Growth

Separately, BNP Paribas lowered shares of LEG Immobilien from a "neutral" rating to an "underperform" rating in a report on Wednesday, September 10th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, LEG Immobilien has an average rating of "Reduce".

LEG Immobilien Stock Down 8.3%

The business has a 50 day moving average price of $84.62 and a 200-day moving average price of $81.41. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of 10.25 and a beta of 0.82.

LEG Immobilien (OTCMKTS:LEGIF - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $1.39 EPS for the quarter, missing analysts' consensus estimates of $2.06 by ($0.67). The firm had revenue of $268.94 million for the quarter, compared to the consensus estimate of $230.02 million. LEG Immobilien had a return on equity of 7.36% and a net margin of 50.86%.

About LEG Immobilien

LEG Immobilien SE, together with its subsidiaries, operates as an integrated property company in Germany. The company engages in the performance of services and management of equity investments; property management and location development; performance of services for third parties and housing industry services; and generation of electricity and heat activities.

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