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LeGrand SA (OTCMKTS:LGRDY) Short Interest Up 2,312.9% in July

LeGrand logo with Computer and Technology background

Key Points

  • LeGrand SA's short interest surged by 2,312.9% in July, increasing from 3,100 shares at the end of June to 74,800 shares by July 15th.
  • The company reported quarterly earnings of $0.26 per share, missing estimates of $0.30, despite a strong revenue of $2.87 billion surpassing expectations of $2.37 billion.
  • LeGrand recently cut its dividend while maintaining a yield of 134.0% and a payout ratio of 31.25%.
  • MarketBeat previews top five stocks to own in September.

LeGrand SA (OTCMKTS:LGRDY - Get Free Report) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 74,800 shares, agrowthof2,312.9% from the June 30th total of 3,100 shares. Based on an average daily trading volume, of 991,700 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 991,700 shares, the days-to-cover ratio is presently 0.1 days.

Wall Street Analyst Weigh In

Separately, Morgan Stanley reissued an "overweight" rating on shares of LeGrand in a research report on Tuesday, July 1st.

Check Out Our Latest Analysis on LeGrand

LeGrand Stock Up 0.6%

OTCMKTS:LGRDY traded up $0.19 during trading hours on Friday, hitting $29.81. 40,876 shares of the company traded hands, compared to its average volume of 154,974. The company has a market cap of $39.35 billion, a PE ratio of 31.05, a PEG ratio of 5.02 and a beta of 0.82. LeGrand has a one year low of $18.85 and a one year high of $30.27. The company has a quick ratio of 1.45, a current ratio of 1.94 and a debt-to-equity ratio of 0.63. The firm's 50-day simple moving average is $26.15 and its 200-day simple moving average is $23.24.

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 the consensus estimate of $0.30 by ($0.04). LeGrand had a return on equity of 16.09% and a net margin of 17.18%. The business had revenue of $2.87 billion for the quarter, compared to analysts' expectations of $2.37 billion. Equities analysts predict that LeGrand will post 1.08 earnings per share for the current year.

LeGrand Cuts Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, June 17th. Shareholders of record on Thursday, May 29th were issued a $0.3264 dividend. The ex-dividend date was Wednesday, May 28th. This represents a yield of 134.0%. LeGrand's dividend payout ratio is 31.25%.

LeGrand Company Profile

(Get Free Report)

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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