Legg Mason Receives Neutral Rating from Susquehanna (LM)
Legg Mason (NYSE:LM)‘s stock had its “neutral” rating reiterated by investment analysts at Susquehanna in a note issued to investors on Friday. They currently have a $41.00 price target on the stock, down from their previous price target of $45.00. Susquehanna’s price target suggests a potential downside of 15.27% from the stock’s previous close.
A number of other firms have also recently commented on LM. Analysts at Keefe, Bruyette & Woods cut their price target on shares of Legg Mason from $57.00 to $56.00 in a research note on Friday, August 1st. They now have an “outperform” rating on the stock. Separately, analysts at BMO Capital Markets raised their price target on shares of Legg Mason from $45.00 to $48.00 in a research note on Tuesday, July 15th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $48.00.
Legg Mason (NYSE:LM) opened at 48.39 on Friday. Legg Mason has a 1-year low of $32.11 and a 1-year high of $52.00. The stock has a 50-day moving average of $49.74 and a 200-day moving average of $47.43. The company has a market cap of $5.604 billion and a P/E ratio of 18.84.
Legg Mason (NYSE:LM) last released its earnings data on Thursday, July 31st. The company reported $0.91 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.56 by $0.35. The company had revenue of $693.90 million for the quarter, compared to the consensus estimate of $704.40 million. During the same quarter in the prior year, the company posted $0.68 earnings per share. The company’s quarterly revenue was up 3.5% on a year-over-year basis. On average, analysts predict that Legg Mason will post $2.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, October 27th. Investors of record on Thursday, October 9th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Tuesday, October 7th.
Legg Mason, Inc (NYSE:LM) is a global asset management company.
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