Legrand is a global specialist in electrical and digital building infrastructure based in France. Co. offers a full range of control-and-command, cable management, energy distribution and "Voice-Data-Image" products and systems which are suitable for the international commercial, industrial, and residential segments of the low voltage market. Co. markets its products under internationally recognized general brand names, including Legrand and Bticino. Each product group is marketed in all of Co.'s major geographic markets (France, Italy, Rest of Europe, USA/Canada and Rest of the World).
  • TickerLR
  • ISINFR0010307819
  • ExchangeEuronext Paris
  • SectorElectronic & Electrical Equipment
  • CountryFrance

Analysts

Legrand France S.A. - March 2019 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Moody's affirms Legrand France's long-term issuer A3 rating; stable outlook

Rating Action: Moody's affirms Legrand France's long-term issuer A3 rating; stable outlook. Global Credit Research- 14 May 2019. Frankfurt am Main, May 14, 2019-- Moody's Investors Service has today affirmed the A3 long-term issuer rating and its A3 senior unsecured bond rating of Legrand France S.A..

Expert Corporate Governance Service (ECGS)

Legrand - AGM 29 May 2019

ITEMS 5 and 7: This year again, the Company's disclosure is very good and allows a perfect understanding of annual bonus granted in 2018. Likewise, the company is one of the few to disclose annual bonus quantitative criteria targets to achieve in 2019.This perfect disclosure and acceptable amounts granted justifies our positive voting recommendations on items 5 and 7.

Legrand France S.A. - March 2019 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Moody's affirms Legrand France's long-term issuer A3 rating; stable outlook

Rating Action: Moody's affirms Legrand France's long-term issuer A3 rating; stable outlook. Global Credit Research- 14 May 2019. Frankfurt am Main, May 14, 2019-- Moody's Investors Service has today affirmed the A3 long-term issuer rating and its A3 senior unsecured bond rating of Legrand France S.A..

Legrand France S.A. - June 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Legrand France S.A.: Update to credit analysis

Update to rating rationale for Legrand’s A3 rating

Legrand France S.A. - March 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Alfred Glaser ...
  • Delphine Brault

Legrand : Q1 confirms less favourable momentum for 2019

>A relatively weak Q1, with a 40bp decline in the adjusted EBITA margin - The group has posted organic sales growth of 2.9% for Q1 (ODDO BHF +3.5%, consensus +2.9%), of which +3.3% for the US and a decline in France, whilst Italy continues to report robust growth. Note that Legrand no longer publishes separate figures for France and Italy, regrouping the two divisions as well as the Rest of Europe in one single Europe division, reflecting its new organisation. The adj...

Alfred Glaser ...
  • Delphine Brault

Legrand : Le T1 confirme un momentum moins porteur pour 2019

>Un T1 assez faible, avec une marge d’EBITA ajustée en recul de 40 pb - Le groupe a affiché une croissance organique de son chiffre d’affaires de 2.9% sur le T1 (ODDO BHF +3.5%, consensus +2.9%), dont +3.3% pour les US et un recul en France, tandis que l’Italie continue d’afficher une croissance soutenue. Rappelons que désormais Legrand ne fournit plus de chiffres pour la France et l’Italie, regroupant ces 2 dernières divisions ainsi que le Reste de l’Europe dans une ...

Denise Molina

Morningstar | Legrand 1Q Posts a Slowdown as Expected; Shares Look Expensive

Narrow-moat Legrand posted slightly weaker results than consensus with shares trading lower. We were not surprised by the results, which included organic revenue growth of 2.7% year over year, slower than 2018's 4.9% growth, given the company's relatively large exposure to France. The French construction market has been slowing visibly since last year with the rate of new housing permits softening in the first few months of 2018. With nearly 20% of Legrand's revenue coming from France, the company was bound to see a slowdown in group revenue growth. We are maintaining our EUR 54 fair value est...

Denise Molina

Legrand 1Q Posts a Slowdown as Expected; Shares Look Expensive

Narrow-moat Legrand posted slightly weaker results than consensus with shares trading lower. We were not surprised by the results, which included organic revenue growth of 2.7% year over year, slower than 2018's 4.9% growth, given the company's relatively large exposure to France. The French construction market has been slowing visibly since last year with the rate of new housing permits softening in the first few months of 2018. With nearly 20% of Legrand's revenue coming from France, the compa...

Alfred Glaser ...
  • Delphine Brault

Legrand : Q1 slightly weak, mainly for the margin

>Q1 2019: 2.9% organic growth, adjusted EBITA margin down -40bp - In Q1, Legrand posted organic sales growth of 2.9% (consensus at 2.9%, ODDO BHF 3.5%), reflecting moderate growth in mature countries (2%) and better growth in emerging markets (5.3%). Forex had a favourable impact of 2.3% and scope effects contributed 1.9% to sales growth. On a reported basis, sales therefore rose 7.3%.Adjusted operating profit came to € 305m (consensus € 312m), lifting the margin...

1 director bought

A director at Legrand Promesse bought 1,000 shares at 53.040EUR and the significance rating of the trade was 55/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of bo...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Louis Boujard
  • Philippe Ourpatian
  • Steven Gould
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/03/2019

...

Ahmed Ben Salem ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Delphine Brault
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Louis Boujard
  • Philippe Ourpatian
  • Steven Gould
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 03/05/2019

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Delphine Brault
  • Louis Boujard
  • Martial Descoutures
  • Philippe Ourpatian
  • Pierre Corby
  • Roland Pfaender
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/02/2019

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Delphine Brault
  • Louis Boujard
  • Martial Descoutures
  • Philippe Ourpatian
  • Pierre Corby
  • Roland Pfaender
  • Sven Edelfelt
  • Virginie Rousseau
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 02/05/2019

...

Alfred Glaser ...
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emmanuel Matot
  • Jerôme Bodin
  • Laurence Hofmann
  • Martial Descoutures
  • Michael Foundoukidis
  • Pierre Tegner
  • Pierre Corby
  • Roland Pfaender
  • Stephane Houri
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 24/04/2019

...

LEGRAND with less fundamental stars is reduced to Neutral

LEGRAND (FR), a company active in the Electrical Components & Equipment industry, loses a star(s) at the fundamental level and sees its general evaluation downgraded. The independent financial analyst theScreener just removed a fundamental star(s) for a 3 over 4-star rating. As such, market behaviour remains unchanged and is evaluated as moderately risky. theScreener believes that the loss of a star(s) merits downgrade to the general evaluation of the title, which passes to Neutral. As of the analysis date February 22, 2019, the closing price was EUR 58.56 and its expected value was estimated ...

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Legrand - AGM 29 May 2019

ITEMS 5 and 7: This year again, the Company's disclosure is very good and allows a perfect understanding of annual bonus granted in 2018. Likewise, the company is one of the few to disclose annual bonus quantitative criteria targets to achieve in 2019.This perfect disclosure and acceptable amounts granted justifies our positive voting recommendations on items 5 and 7.

Jehanne Leroy

Legrand - Assemblée générale des actionnaires du 29 mai 2019

Rémunérations Cette année encore, la très bonne communication de la société permet de parfaitement comprendre le bonus attribué au titre de l'exercice. De la même façon, la société est l'une des rares du CAC 40 à publier, a priori, les objectifs de chacun des critères quantitatifs du bonus annuel pour l'exercice suivant. Cette très bonne transparence alliée à des montants raisonnables et une structure respectant nos préconisations justifient nos recommandations positives sur les rémunérations.

Legrand – Proxinvest Corporate Governance Rating ® : A

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Jehanne Leroy

Proxy Report - 30/05/2018

On February 8, 2018, the company announced that Chairman and CEO are now split. Gilles Schnepp remains Chairman while Benoît Coquart is CEO. ITEM 5: Although the 2018 remuneration of the Chairman will exceed the index median, considering improvements made on governance (removal of the double voting rights in 2015 and split of Chairman and CEO functions), we support the 2018 remuneration policy of the Chairman. ITEM 6: Although the increase of the fixed remuneration is not excessive, it is combined to the increases of target and maximum bonuses and of LTI cap. Hence the total variable remuner...

Jehanne Leroy

Proxy Report - 30/05/2018

Le 8 février 2018, la société a annoncé la dissociation des fonctions de Président et de Directeur général, jusque-là assumées par Gilles Schnepp. Ce dernier est désormais Président du Conseil tandis que la fonction de Directeur général est assurée par Benoît Coquart. Nous saluons cette amélioration de la gouvernance.C'est celle-ci, couplée à la suppression du droit de vote double en 2015 qui nous permettent de soutenir la politique de rémunération du Président pour 2018. En effet, la rémunération du Président pour 2018 excèdera légèrement la médiane des rémunérations totales des présidents du...

Jérôme VINERIER

Short term view - LEGRAND : The background trend is clearly bearish.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €55.15. The background trend would be questioned should prices rise above €59.24.

Jérôme VINERIER

Analyse court terme - LEGRAND : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 55,15 €. La tendance de fond serait remise en cause en cas de franchissement de 59,24 €.

Jérôme VINERIER

Short term view - LEGRAND : The background trend is clearly bearish.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €55.15. The background trend would be questioned should prices rise above €59.24.

Jérôme VINERIER

Analyse court terme - LEGRAND : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 55,15 €. La tendance de fond serait remise en cause en cas de franchissement de 59,24 €.

Jérôme VINERIER

Medium term view - LEGRAND : The trend is uncertain.

The trend is uncertain. Prices are falling and they may accelerate to the downside. A new bearish trend is attempting to emerge.

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