Legg Mason, Inc. (LM) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Legg Mason, Inc. (NYSE:LM) have been given a consensus recommendation of “Hold” by the fourteen brokerages that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $43.11.

Several equities analysts have commented on LM shares. BidaskClub cut shares of Legg Mason from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Credit Suisse Group raised their price objective on shares of Legg Mason from $48.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, October 26th. Zacks Investment Research upgraded shares of Legg Mason from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Wednesday, November 8th. Deutsche Bank AG started coverage on shares of Legg Mason in a report on Tuesday, October 17th. They issued a “buy” rating and a $44.00 price objective on the stock. Finally, Morgan Stanley lowered shares of Legg Mason from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $37.00 to $36.00 in a report on Thursday, October 5th.

Large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake 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 in the last quarter. QCM Cayman Ltd. acquired a new stake in Legg Mason during the 2nd quarter worth $200,000. Gotham Asset Management LLC acquired a new stake in Legg Mason during the 2nd quarter worth $212,000. Institute for Wealth Management LLC. acquired a new stake in Legg Mason during the 2nd quarter worth $224,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in Legg Mason during the 3rd quarter worth $224,000. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Shares of Legg Mason (NYSE:LM) traded up $0.14 during mid-day trading on Monday, reaching $39.00. 299,967 shares of the company’s stock traded hands, compared to its average volume of 895,561. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.51 and a quick ratio of 1.79. Legg Mason has a 52 week low of $29.71 and a 52 week high of $42.08. The stock has a market cap of $3,572.69, a PE ratio of 13.54, a PEG ratio of 0.91 and a beta of 2.27.

Legg Mason (NYSE:LM) last issued its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.10. Legg Mason had a net margin of 8.46% and a return on equity of 7.16%. The company had revenue of $768.30 million during the quarter, compared to analysts’ expectations of $739.47 million. During the same quarter last year, the company posted $0.63 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. sell-side analysts predict that Legg Mason will post 2.84 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Wednesday, December 20th will be paid 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 2.87%. Legg Mason’s dividend payout ratio is currently 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.

Analyst Recommendations for Legg Mason (NYSE:LM)

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