Legg Mason Inc. (NYSE:LM) – Equities researchers at Gabelli issued their Q2 2017 earnings per share (EPS) estimates for Legg Mason in a research note issued to investors on Thursday. Gabelli analyst M. Sykes anticipates that the firm will post earnings of $0.61 per share for the quarter. Gabelli also issued estimates for Legg Mason’s Q3 2017 earnings at $0.69 EPS, Q4 2017 earnings at $0.73 EPS, FY2017 earnings at $2.34 EPS, FY2018 earnings at $3.29 EPS and FY2020 earnings at $4.85 EPS.
LM has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Legg Mason from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 27th. Keefe, Bruyette & Woods restated an “outperform” rating and set a $4.00 target price on shares of Legg Mason in a research report on Monday, September 12th. Citigroup Inc. upped their target price on shares of Legg Mason from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Jefferies Group restated a “buy” rating and set a $36.00 target price (down from $39.00) on shares of Legg Mason in a research report on Monday, July 11th. Finally, Wells Fargo & Co. restated a “buy” rating on shares of Legg Mason in a research report on Monday, July 18th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Legg Mason has a consensus rating of “Buy” and an average target price of $42.11.
Shares of Legg Mason (NYSE:LM) opened at 32.289 on Monday. The firm’s market cap is $3.35 billion. Legg Mason has a one year low of $24.93 and a one year high of $46.41. The stock’s 50 day moving average is $33.69 and its 200-day moving average is $32.87.
Legg Mason (NYSE:LM) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.06. The business earned $700.20 million during the quarter, compared to the consensus estimate of $681.99 million. Legg Mason had a negative net margin of 3.25% and a positive return on equity of 7.06%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.14 EPS.
Several institutional investors have recently made changes to their positions in the stock. Integrated Investment Consultants LLC increased its position in shares of Legg Mason by 11.4% in the third quarter. Integrated Investment Consultants LLC now owns 3,175 shares of the company’s stock valued at $102,000 after buying an additional 325 shares during the last quarter. Seven Eight Capital LLC bought a new position in Legg Mason during the first quarter worth $180,000. Neuberger Berman Group LLC bought a new position in Legg Mason during the second quarter worth $220,000. Ironwood Investment Counsel LLC bought a new position in Legg Mason during the first quarter worth $227,000. Finally, Fox Run Management L.L.C. bought a new position in Legg Mason during the third quarter worth $244,000. 78.70% of the stock is currently owned by institutional investors and hedge funds.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 24th. Investors of record on Thursday, October 6th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Tuesday, October 4th. Legg Mason’s payout ratio is -103.53%.
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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