LeGrand SA (OTCMKTS:LGRDY) Sees Significant Decline in Short Interest

Key Points

• LeGrand SA experienced a significant decrease in short interest, dropping from 74,800 shares to just 10,700 shares, marking an 85.7% decline by July 31.
• The company reported quarterly earnings of $0.26 per share, which missed analysts' expectations of $0.30, despite revenues exceeding estimates at $2.87 billion.
• LeGrand recently cut its dividend, offering a yield of 134.0%, while maintaining a payout ratio of 31.96%.

LeGrand SA (OTCMKTS:LGRDY - Get Free Report) was the recipient of a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 10,700 shares, adropof85.7% from the July 15th total of 74,800 shares. Based on an average daily trading volume, of 253,600 shares, the short-interest ratio is currently 0.0 days. Approximately0.0% of the shares of the company are sold short. Approximately0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 253,600 shares, the short-interest ratio is currently 0.0 days.

LeGrand Trading Up 1.2%

Shares of LGRDY traded up $0.36 on Friday, reaching $31.09. 39,553 shares of the company's stock were exchanged, compared to its average volume of 148,473. The company has a current ratio of 1.94, a quick ratio of 1.45 and a debt-to-equity ratio of 0.63. LeGrand has a 12 month low of $18.85 and a 12 month high of $31.12. The business has a 50 day moving average price of $27.41 and a two-hundred day moving average price of $23.98. The stock has a market capitalization of $41.04 billion, a P/E ratio of 31.92, a price-to-earnings-growth ratio of 3.32 and a beta of 0.84.

LeGrand (OTCMKTS:LGRDY - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.30 by ($0.04). The company had revenue of $2.87 billion for the quarter, compared to analyst estimates of $2.37 billion. LeGrand had a return on equity of 16.31% and a net margin of 17.13%. Research analysts anticipate that LeGrand will post 1.08 earnings per share for the current year.

LeGrand Cuts Dividend

The firm also recently announced a dividend, which was paid on Tuesday, June 17th. Investors of record on Thursday, May 29th were issued a dividend of $0.3264 per share. The ex-dividend date of this dividend was Wednesday, May 28th. This represents a dividend yield of 134.0%. LeGrand's payout ratio is presently 31.96%.

Analysts Set New Price Targets

LGRDY has been the topic of several recent analyst reports. Morgan Stanley reiterated an "overweight" rating on shares of LeGrand in a report on Tuesday, July 1st. Royal Bank Of Canada reiterated a "sector perform" rating on shares of LeGrand in a research report on Monday, August 4th. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of LeGrand in a research note on Monday, August 4th.

LeGrand Company Profile

Legrand SA, together with its subsidiaries, manufactures, distributes, and sells electrical and digital building infrastructures in Europe, North and Central America, and internationally. The company offers energy distribution, protection, and management solutions, such as electric vehicle charging, residential and small commercial panels, switchboards and power cabinets, and UPS devices; and wiring devices, connected home and building control solutions, and guestroom solutions, as well as back, junction, DCL, and floor boxes.

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