Legg Mason Inc (NYSE:LM) – Research analysts at Jefferies Group upped their Q3 2018 earnings per share (EPS) estimates for Legg Mason in a research report issued on Wednesday. Jefferies Group analyst D. Fannon now forecasts that the asset manager will post earnings per share of $0.83 for the quarter, up from their previous forecast of $0.70. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for Legg Mason’s FY2019 earnings at $3.48 EPS.
Several other analysts have also recently issued reports on the stock. Morgan Stanley cut shares of Legg Mason from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $37.00 to $36.00 in a research report on Thursday, October 5th. Royal Bank of Canada set a $49.00 target price on shares of Legg Mason and gave the company a “buy” rating in a research report on Friday, December 15th. Zacks Investment Research upgraded shares of Legg Mason from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Wednesday, November 8th. Credit Suisse Group upped their target price on shares of Legg Mason from $48.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, October 26th. Finally, Deutsche Bank started coverage on shares of Legg Mason in a research report on Tuesday, October 17th. They set a “buy” rating and a $44.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $43.90.
Shares of Legg Mason (NYSE LM) opened at $43.74 on Friday. The company has a current ratio of 2.51, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56. The stock has a market cap of $4,020.00, a PE ratio of 17.09, a PEG ratio of 1.02 and a beta of 2.27. Legg Mason has a 1 year low of $30.81 and a 1 year high of $43.76.
Legg Mason (NYSE:LM) last announced its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.79 EPS for the quarter, topping the consensus estimate of $0.69 by $0.10. The business had revenue of $768.30 million for the quarter, compared to analysts’ expectations of $739.47 million. Legg Mason had a net margin of 8.46% and a return on equity of 7.16%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.63 EPS.
A number of large investors have recently modified their holdings of the stock. KAMES CAPITAL plc grew its holdings in Legg Mason by 20.5% during the 4th quarter. KAMES CAPITAL plc now owns 82,530 shares of the asset manager’s stock valued at $3,464,000 after purchasing an additional 14,040 shares during the last quarter. Dalton Greiner Hartman Maher & Co. grew its holdings in Legg Mason by 3.2% during the 4th quarter. Dalton Greiner Hartman Maher & Co. now owns 527,188 shares of the asset manager’s stock valued at $22,131,000 after purchasing an additional 16,107 shares during the last quarter. First Citizens Bank & Trust Co. bought a new position in Legg Mason during the 4th quarter valued at about $312,000. Hutchens Investment Management Inc bought a new position in Legg Mason during the 4th quarter valued at about $251,000. Finally, AXA grew its holdings in Legg Mason by 96.6% during the 3rd quarter. AXA now owns 253,400 shares of the asset manager’s stock valued at $9,961,000 after purchasing an additional 124,500 shares during the last quarter. Institutional investors own 82.49% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Wednesday, December 20th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Tuesday, December 19th. This represents a $1.12 annualized dividend and a yield of 2.56%. Legg Mason’s payout ratio is 43.75%.
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Legg Mason Company Profile
Legg Mason, Inc is a holding company. The Company and its subsidiaries are principally engaged in providing asset management and related financial services to individuals, institutions, corporations and municipalities. The Company operates through Global Asset Management segment. Global Asset Management provides investment advisory services to institutional and individual clients and to the Company-sponsored investment funds.
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