Wall Street analysts expect that Legg Mason Inc (NYSE:LM) will report earnings of $0.94 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Legg Mason’s earnings, with the highest EPS estimate coming in at $0.98 and the lowest estimate coming in at $0.91. Legg Mason posted earnings of $0.73 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 28.8%. The firm is expected to announce its next earnings report on Monday, February 3rd.
On average, analysts expect that Legg Mason will report full-year earnings of $3.64 per share for the current year, with EPS estimates ranging from $3.58 to $3.69. For the next financial year, analysts forecast that the firm will post earnings of $3.98 per share, with EPS estimates ranging from $3.69 to $4.14. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Legg Mason.
Legg Mason (NYSE:LM) last issued its quarterly earnings results on Wednesday, October 30th. The asset manager reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.09. Legg Mason had a negative net margin of 1.93% and a positive return on equity of 7.67%. The business had revenue of $743.30 million for the quarter, compared to analysts’ expectations of $720.83 million. During the same period last year, the business earned $0.82 earnings per share. The business’s quarterly revenue was down 2.0% on a year-over-year basis.
A number of research analysts have commented on the stock. cut shares of Legg Mason from a “sell” rating to a “strong sell” rating in a research report on Monday, October 7th. Barclays reiterated a “hold” rating and set a $38.00 price target on shares of Legg Mason in a research report on Wednesday, October 9th. Finally, Wells Fargo & Co reissued a “hold” rating on shares of Legg Mason in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $34.50.
NYSE LM traded up $0.54 on Thursday, reaching $36.45. 929,005 shares of the company’s stock traded hands, compared to its average volume of 683,653. Legg Mason has a 12 month low of $25.47 and a 12 month high of $40.27. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.22 and a quick ratio of 1.53. The stock has a 50-day simple moving average of $37.62 and a 200 day simple moving average of $37.44. The stock has a market cap of $3.12 billion, a PE ratio of 11.99, a P/E/G ratio of 0.78 and a beta of 1.49.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 20th. Investors of record on Tuesday, December 24th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date is Monday, December 23rd. Legg Mason’s payout ratio is 52.63%.
A number of hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Legg Mason by 8.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,379 shares of the asset manager’s stock valued at $205,000 after buying an additional 410 shares during the period. United Services Automobile Association lifted its position in Legg Mason by 1.8% during the second quarter. United Services Automobile Association now owns 23,243 shares of the asset manager’s stock valued at $890,000 after buying an additional 412 shares during the period. Usca Ria LLC purchased a new position in Legg Mason during the third quarter valued at $31,000. Brown Advisory Inc. lifted its position in Legg Mason by 12.7% during the second quarter. Brown Advisory Inc. now owns 11,025 shares of the asset manager’s stock valued at $422,000 after buying an additional 1,242 shares during the period. Finally, Strs Ohio lifted its position in Legg Mason by 9.9% during the third quarter. Strs Ohio now owns 15,634 shares of the asset manager’s stock valued at $597,000 after buying an additional 1,410 shares during the period. 86.50% of the stock is owned by institutional investors.
Legg Mason Company Profile
Legg Mason, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides investment management and related services to company-sponsored mutual funds and other investment vehicles including pension funds, foundations, endowments, sovereign wealth funds, insurance companies, private banks, family offices, individuals, as well as to global, institutional, and retail clients.
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