Legg Mason, Inc. (LM) Earns Buy Rating from Analysts at Deutsche Bank AG

Deutsche Bank AG began coverage on shares of Legg Mason, Inc. (NYSE:LM) in a report released on Tuesday morning. The brokerage issued a buy rating and a $44.00 price objective on the asset manager’s stock.

Other equities research analysts also recently issued reports about the company. BidaskClub downgraded Legg Mason from a buy rating to a hold rating in a report on Monday, July 31st. Citigroup Inc. downgraded Legg Mason from a buy rating to a neutral rating in a report on Thursday, July 13th. TheStreet upgraded Legg Mason from a c+ rating to a b rating in a report on Friday, June 30th. Morgan Stanley downgraded Legg Mason from an equal weight rating to an underweight rating and lowered their price target for the company from $37.00 to $36.00 in a report on Thursday, October 5th. Finally, Zacks Investment Research upgraded Legg Mason from a sell rating to a hold rating in a report on Tuesday, July 4th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $42.89.

Legg Mason (NYSE LM) traded up 1.60% during midday trading on Tuesday, hitting $38.83. The stock had a trading volume of 820,414 shares. The company has a 50-day moving average price of $38.13 and a 200-day moving average price of $38.17. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 16.14 and a beta of 2.22. Legg Mason has a 12-month low of $28.10 and a 12-month high of $42.08.

Legg Mason (NYSE:LM) last posted its quarterly earnings data on Wednesday, July 26th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.09. Legg Mason had a return on equity of 6.84% and a net margin of 8.21%. The company had revenue of $793.80 million for the quarter, compared to the consensus estimate of $766.60 million. During the same period in the previous year, the business earned $0.68 EPS. Legg Mason’s revenue for the quarter was up 13.4% compared to the same quarter last year. Equities analysts anticipate that Legg Mason will post $2.26 EPS for the current year.

COPYRIGHT VIOLATION WARNING: “Legg Mason, Inc. (LM) Earns Buy Rating from Analysts at Deutsche Bank AG” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another website, it was stolen and reposted in violation of U.S. and international copyright and trademark legislation. The original version of this piece can be viewed at https://ledgergazette.com/2017/10/20/legg-mason-inc-lm-earns-buy-rating-from-analysts-at-deutsche-bank-ag.html.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 23rd. Investors of record on Thursday, October 5th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, October 4th. This represents a $1.12 dividend on an annualized basis and a yield of 2.88%. Legg Mason’s dividend payout ratio is currently 46.47%.

Large investors have recently added to or reduced their stakes in the stock. FNY Partners Fund LP acquired a new position in Legg Mason during the 1st quarter worth $109,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Legg Mason by 10.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,193 shares of the asset manager’s stock worth $122,000 after acquiring an additional 294 shares during the period. QCM Cayman Ltd. acquired a new position in Legg Mason during the 2nd quarter worth $200,000. Envestnet Asset Management Inc. boosted its position in Legg Mason by 23.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 5,857 shares of the asset manager’s stock worth $212,000 after acquiring an additional 1,100 shares during the period. Finally, Gotham Asset Management LLC acquired a new position in Legg Mason during the 2nd quarter

Other equities research analysts also recently issued reports about the company. BidaskClub downgraded Legg Mason from a buy rating to a hold rating in a report on Monday, July 31st. Citigroup Inc. downgraded Legg Mason from a buy rating to a neutral rating in a report on Thursday, July 13th. TheStreet upgraded Legg Mason from a c+ rating to a b rating in a report on Friday, June 30th. Morgan Stanley downgraded Legg Mason from an equal weight rating to an underweight rating and lowered their price target for the company from $37.00 to $36.00 in a report on Thursday, October 5th. Finally, Zacks Investment Research upgraded Legg Mason from a sell rating to a hold rating in a report on Tuesday, July 4th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $42.89.

Legg Mason (NYSE LM) traded up 1.60% during midday trading on Tuesday, hitting $38.83. The stock had a trading volume of 820,414 shares. The company has a 50-day moving average price of $38.13 and a 200-day moving average price of $38.17. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 16.14 and a beta of 2.22. Legg Mason has a 12-month low of $28.10 and a 12-month high of $42.08.

Legg Mason (NYSE:LM) last posted its quarterly earnings data on Wednesday, July 26th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.09. Legg Mason had a return on equity of 6.84% and a net margin of 8.21%. The company had revenue of $793.80 million for the quarter, compared to the consensus estimate of $766.60 million. During the same period in the previous year, the business earned $0.68 EPS. Legg Mason’s revenue for the quarter was up 13.4% compared to the same quarter last year. Equities analysts anticipate that Legg Mason will post $2.26 EPS for the current year.

COPYRIGHT VIOLATION WARNING: “Legg Mason, Inc. (LM) Earns Buy Rating from Analysts at Deutsche Bank AG” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another website, it was stolen and reposted in violation of U.S. and international copyright and trademark legislation. The original version of this piece can be viewed at https://ledgergazette.com/2017/10/20/legg-mason-inc-lm-earns-buy-rating-from-analysts-at-deutsche-bank-ag.html.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 23rd. Investors of record on Thursday, October 5th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, October 4th. This represents a $1.12 dividend on an annualized basis and a yield of 2.88%. Legg Mason’s dividend payout ratio is currently 46.47%.

Large investors have recently added to or reduced their stakes in the stock. FNY Partners Fund LP acquired a new position in Legg Mason during the 1st quarter worth $109,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Legg Mason by 10.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,193 shares of the asset manager’s stock worth $122,000 after acquiring an additional 294 shares during the period. QCM Cayman Ltd. acquired a new position in Legg Mason during the 2nd quarter worth $200,000. Envestnet Asset Management Inc. boosted its position in Legg Mason by 23.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 5,857 shares of the asset manager’s stock worth $212,000 after acquiring an additional 1,100 shares during the period. Finally, Gotham Asset Management LLC acquired a new position in Legg Mason during the 2nd quarter worth $212,000. Institutional investors and hedge funds own 82.28% of the company’s stock.

About Legg Mason

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.

Analyst Recommendations for Legg Mason (NYSE:LM)

Receive News & Ratings for Legg Mason Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Legg Mason Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply