LeGrand (OTCMKTS:LGRDY) Shares Gap Down - What's Next?

Key Points

• LeGrand shares gapped down from a prior close of $32.79 to open at $30.96, later trading near $30.83 on volume of 29,474 shares.
• Analyst sentiment remains positive, with recent upgrades from RBC and Deutsche Bank and a consensus “Moderate Buy” rating based on one Strong Buy, five Buys, and five Holds.
• The company’s latest quarterly earnings missed expectations at $0.32 per share versus $0.36 forecast, although revenue of $3.26 billion exceeded the $3.18 billion consensus estimate.

LeGrand SA (OTCMKTS:LGRDY - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $32.79, but opened at $30.96. LeGrand shares last traded at $30.83, with a volume of 29,474 shares traded.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on LGRDY shares. Barclays raised shares of LeGrand from an "overweight" rating to an "overweight" rating in a research note on Monday, July 6th. Morgan Stanley restated an "overweight" rating on shares of LeGrand in a research note on Friday, August 28th. Royal Bank Of Canada raised LeGrand from a "sector perform" rating to an "outperform" rating in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft upgraded LeGrand from a "hold" rating to a "buy" rating in a research note on Wednesday, September 2nd. Finally, Citigroup reissued a "buy" rating on shares of LeGrand in a report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy".

LeGrand Stock Up 0.3%

The firm has a market cap of $40.28 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 1.81 and a beta of 0.96. The business's 50-day moving average is $31.66 and its 200-day moving average is $32.97. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.12 and a current ratio of 1.58.

LeGrand (OTCMKTS:LGRDY - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.04). LeGrand had a return on equity of 17.74% and a net margin of 13.01%.The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.18 billion. On average, equities analysts predict that LeGrand SA will post 1.41 EPS for the current year.

LeGrand Company Profile

Legrand SA is a France-based specialist in electrical and digital building infrastructure. The company develops, manufactures and markets equipment used to distribute, control, protect and manage electricity and data in residential, commercial, industrial and infrastructure environments.

Its product portfolio includes wiring devices such as switches and sockets, electrical protection and distribution systems, cable management solutions, connected-home and building-automation products, and systems for data centers and other digital infrastructure applications.

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