Leon’s Furniture (TSE:LNF) Stock Price Breaks Below 200 Day Moving Average – Here’s What Happened

Leon’s Furniture Limited (TSE:LNF) passed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of C$24.83 and traded as low as C$24.22. Leon’s Furniture shares last traded at C$24.22, with a volume of 11,787 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently weighed in on LNF shares. Royal Bank Of Canada reduced their target price on Leon’s Furniture from C$33.00 to C$32.00 and set an “outperform” rating for the company in a report on Monday, August 10th. National Bank Financial dropped their price target on shares of Leon’s Furniture from C$35.00 to C$34.00 and set an “outperform” rating on the stock in a research report on Monday, August 10th. Finally, Stifel Nicolaus reduced their price objective on shares of Leon’s Furniture from C$27.00 to C$25.50 and set a “hold” rating for the company in a research note on Monday, August 10th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$30.88.

Leon’s Furniture Stock Down 0.3%

The firm has a 50-day moving average of C$24.43 and a two-hundred day moving average of C$24.83. The firm has a market cap of C$1.69 billion, a price-to-earnings ratio of 10.65 and a beta of 1.01. The company has a current ratio of 1.59, a quick ratio of 0.53 and a debt-to-equity ratio of 38.38.

Leon’s Furniture (TSE:LNF) last issued its quarterly earnings results on Thursday, August 6th. The company reported C$0.51 EPS for the quarter. Leon’s Furniture had a return on equity of 12.76% and a net margin of 6.22%.The company had revenue of C$631.29 million for the quarter. As a group, sell-side analysts predict that Leon’s Furniture Limited will post 2.2104466 earnings per share for the current fiscal year.

Leon’s Furniture Company Profile

Leon’s Furniture Ltd is a Canada-based retailer which is involved in the sale of home furnishing, mattresses, appliances, and electronics. The firm is also the country’s commercial retailer of appliances to builders, developers, hotels, and property management companies. It generates maximum revenue from sales of goods by corporate stores.