Legg Mason Given Consensus Rating of “Hold” by Brokerages (NYSE:LM)
Legg Mason (NYSE:LM) has earned an average rating of “Hold” from the thirteen analysts that are covering the company, Analyst Ratings News reports. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $48.00.
LM has been the subject of a number of recent research reports. Analysts at Susquehanna reiterated a “neutral” rating on shares of Legg Mason in a research note on Friday, August 15th. They now have a $41.00 price target on the stock, down previously from $45.00. Separately, 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. Finally, 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.
Shares of Legg Mason (NYSE:LM) traded up 0.28% on Wednesday, hitting $49.59. The stock had a trading volume of 55,079 shares. Legg Mason has a one year low of $32.44 and a one year high of $52.00. The stock has a 50-day moving average of $49.08 and a 200-day moving average of $48.13. The company has a market cap of $5.743 billion and a price-to-earnings ratio of 19.26.
Legg Mason (NYSE:LM) last released its earnings data on Thursday, July 31st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, analysts predict that Legg Mason will post $2.06 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, October 27th. Stockholders of record on Thursday, October 9th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Tuesday, October 7th.
Legg Mason, Inc (NYSE:LM) is a global asset management company.
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