LeGrand (OTCMKTS:LGRDY) Shares Gap Down Following Weak Earnings

LeGrand SA (OTCMKTS:LGRDY) gapped down before the market opened on Thursday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $33.78, but opened at $30.2050. LeGrand shares last traded at $29.97, with a volume of 9,999 shares.

The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.05). The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.62 billion. LeGrand had a return on equity of 16.27% and a net margin of 16.71%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Kepler Capital Markets lowered shares of LeGrand from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. Deutsche Bank Aktiengesellschaft lowered LeGrand from a “buy” rating to a “hold” rating in a report on Thursday. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of LeGrand in a research report on Monday, August 4th. Jefferies Financial Group upgraded shares of LeGrand from a “moderate sell” rating to a “strong-buy” rating in a report on Sunday, October 12th. Finally, Citigroup reaffirmed a “buy” rating on shares of LeGrand in a research report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

LeGrand Stock Up 1.5%

The firm has a market cap of $39.88 billion, a price-to-earnings ratio of 30.52, a P/E/G ratio of 1.89 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.94 and a quick ratio of 1.45. The firm’s fifty day moving average is $33.00 and its two-hundred day moving average is $28.68.

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.