RBC Capital Increases Legg Mason Price Target to $37.00 (LM)
Research analysts at RBC Capital increased their target price on shares of Legg Mason (NYSE:LM) from $31.00 to $37.00 in a report released on Thursday, AnalystRatingsNetwork reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s price target would indicate a potential upside of 8.82% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at BMO Capital Markets reiterated an “underperform” rating on shares of Legg Mason (NYSE:LM) in a research note to investors on Thursday. They now have a $35.00 price target on the stock, up previously from $34.00. Separately, analysts at TheStreet downgraded shares of Legg Mason (NYSE:LM) from a “buy” rating to a “hold” rating in a research note to investors on Tuesday. Finally, analysts at Susquehanna raised their price target on shares of Legg Mason (NYSE:LM) from $22.00 to $23.00 in a research note to investors on Friday, July 26th. They now have a “negative” rating on the stock.
Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $33.43.
Shares of Legg Mason (NYSE:LM) traded down 1.13% during mid-day trading on Thursday, hitting $34.00. 1,568,282 shares of the company’s stock traded hands. Legg Mason has a 52-week low of $23.88 and a 52-week high of $37.04. The stock has a 50-day moving average of $33.66 and a 200-day moving average of $32.52. The company’s market cap is $4.195 billion.
Legg Mason (NYSE:LM) last released its earnings data on Thursday, July 25th. The company reported $0.68 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.46 by $0.22. The company had revenue of $670.40 million for the quarter, compared to the consensus estimate of $657.20 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. On average, analysts predict that Legg Mason will post $2.17 earnings per share for the current fiscal year.
Legg Mason, Inc (NYSE:LM) is a global asset management company.
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