Legg Mason Rating Reiterated by BMO Capital Markets (LM)
Legg Mason (NYSE:LM)‘s stock had its “sell” rating reaffirmed by equities researchers at BMO Capital Markets in a research report issued on Thursday, Stock Ratings Network reports. They currently have a $35.00 price target on the stock. BMO Capital Markets’ target price would suggest a potential upside of 4.26% from the company’s current price.
Shares of Legg Mason (NYSE:LM) traded down 1.15% during mid-day trading on Thursday, hitting $33.57. The stock had a trading volume of 1,376,999 shares. Legg Mason has a 1-year low of $23.88 and a 1-year high of $37.04. The stock’s 50-day moving average is $33.61 and its 200-day moving average is $33.01. The company’s market cap is $4.142 billion.
Legg Mason (NYSE:LM) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.68 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.25 earnings per share. Legg Mason’s revenue was up 6.3% compared to the same quarter last year. On average, analysts predict that Legg Mason will post $2.14 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on LM. Analysts at Morgan Stanley raised their price target on shares of Legg Mason (NYSE:LM) from $36.00 to $38.00 in a research note to investors on Thursday. They now have an “equal weight” rating on the stock. Separately, analysts at RBC Capital raised their price target on shares of Legg Mason (NYSE:LM) from $31.00 to $37.00 in a research note to investors on Thursday, September 12th. They now have a “sector perform” rating on the stock. Finally, 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, September 10th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $33.73.
Legg Mason, Inc (NYSE:LM) is a global asset management company.
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