Equities Analysts Offer Predictions for Legg Mason Inc.’s Q2 2017 Earnings (LM)
Legg Mason Inc. (NYSE:LM) – Gabelli issued their Q2 2017 earnings per share (EPS) estimates for shares of Legg Mason in a research note issued on Thursday. Gabelli analyst M. Sykes expects that the brokerage will post earnings per share of $0.61 for the quarter. Gabelli also issued estimates for Legg Mason’s Q3 2017 earnings at $0.69 EPS, Q4 2017 earnings at $0.73 EPS, FY2017 earnings at $2.34 EPS, FY2018 earnings at $3.29 EPS and FY2020 earnings at $4.85 EPS.
Legg Mason (NYSE:LM) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.06. The firm earned $700.20 million during the quarter, compared to analyst estimates of $681.99 million. Legg Mason had a negative net margin of 3.25% and a positive return on equity of 7.06%. Legg Mason’s revenue was down 1.2% on a year-over-year basis. During the same period last year, the firm posted $1.14 EPS.
Other analysts have also issued reports about the stock. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $44.00 price target on shares of Legg Mason in a research note on Friday. Zacks Investment Research lowered shares of Legg Mason from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Morgan Stanley boosted their price target on shares of Legg Mason from $37.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 28th. Jefferies Group reiterated a “buy” rating on shares of Legg Mason in a research note on Thursday, August 11th. Finally, Barclays PLC reiterated an “overweight” rating and set a $41.00 price target on shares of Legg Mason in a research note on Sunday, July 31st. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $42.11.
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Legg Mason (NYSE:LM) opened at 31.95 on Monday. Legg Mason has a 12 month low of $24.93 and a 12 month high of $46.41. The company has a 50 day moving average of $33.76 and a 200 day moving average of $32.91. The stock’s market capitalization is $3.31 billion.
Institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc increased its position in shares of Legg Mason by 1.6% in the first quarter. Legal & General Group Plc now owns 474,810 shares of the company’s stock worth $16,466,000 after buying an additional 7,259 shares during the period. Bogle Investment Management L P DE increased its position in shares of Legg Mason by 26.8% in the first quarter. Bogle Investment Management L P DE now owns 43,086 shares of the company’s stock worth $1,494,000 after buying an additional 9,116 shares during the period. Wellington Management Group LLP increased its position in shares of Legg Mason by 122.2% in the first quarter. Wellington Management Group LLP now owns 765,818 shares of the company’s stock worth $26,559,000 after buying an additional 421,217 shares during the period. Ironwood Investment Counsel LLC acquired a new position in shares of Legg Mason during the first quarter worth about $227,000. Finally, Geode Capital Management LLC increased its position in shares of Legg Mason by 17.3% in the first quarter. Geode Capital Management LLC now owns 1,024,433 shares of the company’s stock worth $35,467,000 after buying an additional 150,734 shares during the period. 78.70% of the stock is owned by hedge funds and other institutional investors.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 24th. Investors of record on Thursday, October 6th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Tuesday, October 4th. Legg Mason’s dividend payout ratio (DPR) is -103.53%.
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.
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