Legg Mason, Inc. (NYSE:LM) – Stock analysts at Jefferies Group lowered their Q3 2018 EPS estimates for shares of Legg Mason in a report issued on Wednesday, Zacks Investment Research reports. Jefferies Group analyst D. Fannon now forecasts that the company will post earnings per share of $0.70 for the quarter, down from their prior estimate of $0.73. Jefferies Group currently has a “Buy” rating and a $49.00 target price on the stock. Jefferies Group also issued estimates for Legg Mason’s FY2019 earnings at $3.00 EPS.
A number of other research firms also recently commented on LM. BidaskClub downgraded Legg Mason from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Royal Bank Of Canada restated a “buy” rating and issued a $47.00 target price on shares of Legg Mason in a research report on Friday, July 28th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $47.00 target price on shares of Legg Mason in a research report on Friday, September 29th. Morgan Stanley downgraded Legg Mason from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $37.00 to $36.00 in a research report on Thursday, October 5th. Finally, Credit Suisse Group lifted their target price on Legg Mason from $48.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, October 26th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of C$43.10.
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Shares of Legg Mason (NYSE:LM) opened at C$38.06 on Friday. Legg Mason has a 1 year low of C$29.71 and a 1 year high of C$42.08. The company has a quick ratio of 1.93, a current ratio of 2.74 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $3,499.16, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 0.89 and a beta of 2.27.
Legg Mason (NYSE:LM) last announced its quarterly earnings data on Wednesday, October 25th. The company reported C$0.79 EPS for the quarter, topping the Zacks’ consensus estimate of C$0.69 by C$0.10. Legg Mason had a return on equity of 7.15% and a net margin of 8.46%. The firm had revenue of C$768.30 million for the quarter, compared to the consensus estimate of C$739.47 million. During the same quarter last year, the business posted $0.63 earnings per share. The firm’s revenue was up 2.7% compared to the same quarter last year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Neuberger Berman Group LLC grew its stake in Legg Mason by 0.7% during the 2nd quarter. Neuberger Berman Group LLC now owns 6,857 shares of the company’s stock worth $262,000 after purchasing an additional 47 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in Legg Mason by 2.7% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 6,904 shares of the company’s stock worth $263,000 after purchasing an additional 183 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Legg Mason by 10.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,193 shares of the company’s stock worth $122,000 after purchasing an additional 294 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Legg Mason by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 22,300 shares of the company’s stock worth $851,000 after purchasing an additional 400 shares in the last quarter. Finally, Raymond James Trust N.A. grew its stake in Legg Mason by 3.0% during the 2nd quarter. Raymond James Trust N.A. now owns 14,168 shares of the company’s stock worth $541,000 after purchasing an additional 416 shares in the last quarter. 83.47% of the stock is owned by institutional investors and hedge funds.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Wednesday, December 20th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, December 19th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.94%. Legg Mason’s payout ratio is presently 43.75%.
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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