These Analysts Revise Their Forecasts On Legence Following Q2 Results

Legence Corp (NASDAQ:LGN) on Thursday reported mixed second-quarter financial results.

Legence reported quarterly earnings of 17 cents per share which missed the analyst consensus estimate of 33 cents per share. The company reported quarterly sales of $1.260 billion which beat the analyst consensus estimate of $1.074 billion.

Legence said it sees third-quarter sales of $1.225 billion-$1.275 billion, versus market estimates of $1.080 billion.

“Strong customer demand led to another record quarter for Legence, with new highs in revenue, Adjusted EBITDA and backlog and awarded contracts,” said Jeff Sprau, Chief Executive Officer of Legence.

Legence shares rose 0.1% to $63.25 in pre-market trading.

These analysts made changes to their price targets on Legence following earnings announcement.

• BTIG analyst Gregory Lewis reiterated the stock with a Buy and lowered the price target from $120 to $100.
• BMO Capital analyst Devin Dodge maintained the stock with an Outperform rating and raised the price target from $100 to $105.

Considering buying LGN stock? Here’s what analysts think:

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