Short Interest in Legrand SA (OTCMKTS:LGRDY) Drops By 61.6%

Legrand SA (OTCMKTS:LGRDY - Get Free Report) was the target of a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 10,100 shares, a decrease of 61.6% from the May 15th total of 26,300 shares. Approximately 0.0% of the company's stock are short sold. Based on an average daily trading volume, of 314,800 shares, the days-to-cover ratio is presently 0.0 days.

Analysts Set New Price Targets

Separately, Royal Bank of Canada upgraded Legrand from a "strong sell" rating to a "hold" rating in a report on Monday, February 24th.

Legrand Stock Down 1.1%

Shares of LGRDY stock traded down $0.27 during mid-day trading on Friday, hitting $25.24. 84,856 shares of the stock traded hands, compared to its average volume of 132,001. The stock has a market cap of $33.32 billion, a P/E ratio of 26.34, a P/E/G ratio of 5.98 and a beta of 0.81. The stock's fifty day moving average is $23.07 and its two-hundred day moving average is $21.60. Legrand has a 52-week low of $18.85 and a 52-week high of $25.51. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.95 and a quick ratio of 1.39.

Legrand (OTCMKTS:LGRDY - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.02). The company had revenue of $2.59 billion during the quarter, compared to analysts' expectations of $2.26 billion. Legrand had a net margin of 13.48% and a return on equity of 16.63%. Equities analysts predict that Legrand will post 1.08 EPS for the current year.

Legrand Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 29th will be given a $0.3264 dividend. This represents a dividend yield of 1.34%. The ex-dividend date is Wednesday, May 28th. Legrand's payout ratio is currently 30.21%.

About Legrand

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.