LeGrand (OTCMKTS:LGRDY) Shares Gap Down - Here's What Happened

Key Points

• LeGrand shares fell 2.1%, opening at $29.24 after previously closing at $30.24, and last traded at $29.04.
• Analyst sentiment is generally positive: LeGrand has a consensus rating of “Moderate Buy”, with several firms recently upgrading the stock, including Evercore to “strong buy” and Deutsche Bank to “buy.”
• In its latest quarter, LeGrand reported $0.32 in earnings per share, missing estimates of $0.36, while revenue of $3.26 billion exceeded expectations of $3.18 billion.

LeGrand SA (OTCMKTS:LGRDY - Get Free Report)'s stock price gapped down prior to trading on Monday. The stock had previously closed at $30.24, but opened at $29.24. LeGrand shares last traded at $29.04, with a volume of 4,419 shares traded.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LGRDY shares. Zacks Research upgraded shares of LeGrand from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 5th. Evercore upgraded LeGrand from a "hold" rating to a "strong-buy" rating in a report on Friday, October 2nd. Barclays reissued an "overweight" rating on shares of LeGrand in a research report on Monday, October 5th. Royal Bank Of Canada upgraded shares of LeGrand from a "sector perform" rating to an "outperform" rating in a report on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of LeGrand from a "hold" rating to a "buy" rating in a research note on Wednesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy".

LeGrand Stock Down 2.1%

The company has a fifty day moving average of $31.71 and a 200 day moving average of $32.82. The company has a market cap of $38.16 billion, a P/E ratio of 25.09, a price-to-earnings-growth ratio of 1.63 and a beta of 0.99. The company has a quick ratio of 1.12, a current ratio of 1.58 and a debt-to-equity ratio of 0.89.

LeGrand (OTCMKTS:LGRDY - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.04). LeGrand had a net margin of 13.01% and a return on equity of 17.74%. The business had revenue of $3.26 billion for the quarter, compared to analysts' expectations of $3.18 billion. On average, research analysts anticipate that LeGrand SA will post 1.38 earnings per share for the current fiscal year.

LeGrand Company Profile

Legrand SA is a France-based manufacturer of electrical and digital building infrastructure products. Its portfolio includes wiring devices, switches and sockets, circuit protection and power distribution equipment, cable management systems, lighting controls, and home and building automation solutions.

The company also provides infrastructure for data centers and communication networks, including connectivity, racks, power-management equipment, and uninterruptible power systems. Its products are used in residential, commercial, industrial, and institutional buildings.

Legrand traces its origins to a porcelain manufacturing business established in Limoges, France, in 1904, and later expanded into electrical equipment and building systems.

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