Legg Mason, Inc. (NYSE:LM) – Equities researchers at Jefferies Group lifted their FY2018 EPS estimates for Legg Mason in a research report issued on Wednesday. Jefferies Group analyst D. Fannon now expects that the asset manager will post earnings of $2.72 per share for the year, up from their prior forecast of $2.63. Jefferies Group currently has a “Buy” rating and a $49.00 price target on the stock. Jefferies Group also issued estimates for Legg Mason’s Q4 2018 earnings at $0.69 EPS.

LM has been the subject of several other research reports. Credit Suisse Group reiterated a “buy” rating and issued a $47.00 price objective on shares of Legg Mason in a research note on Sunday, July 9th. Deutsche Bank AG initiated coverage on shares of Legg Mason in a research report on Tuesday, October 17th. They issued a “buy” rating and a $44.00 price target for the company. Royal Bank Of Canada set a $47.00 price target on shares of Legg Mason and gave the company a “buy” rating in a research report on Wednesday, October 18th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $47.00 price target on shares of Legg Mason in a research report on Friday, September 29th. Finally, Barclays PLC initiated coverage on shares of Legg Mason in a research report on Friday, September 8th. They issued an “equal weight” rating and a $39.00 price target for the company. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Legg Mason has a consensus rating of “Hold” and a consensus target price of $43.11.

ILLEGAL ACTIVITY WARNING: “FY2018 EPS Estimates for Legg Mason, Inc. (LM) Boosted by Jefferies Group” was first posted by American Banking News and is owned by of American Banking News. If you are reading this news story on another domain, it was stolen and reposted in violation of US & international trademark & copyright law. The original version of this news story can be accessed at https://www.americanbankingnews.com/2017/10/30/fy2018-eps-estimates-for-legg-mason-inc-lm-boosted-by-jefferies-group.html.

Legg Mason (NYSE:LM) traded down 0.51% on Monday, hitting $38.82. 67,955 shares of the stock traded hands. The stock has a 50-day moving average price of $38.26 and a 200 day moving average price of $38.27. Legg Mason has a 1-year low of $28.10 and a 1-year high of $42.08. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 16.13 and a beta of 2.23.

Legg Mason (NYSE:LM) last released its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.79 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.10. The company had revenue of $768.30 million during the quarter, compared to analysts’ expectations of $739.47 million. Legg Mason had a net margin of 8.46% and a return on equity of 7.15%. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 earnings per share.

Several large investors have recently modified their holdings of LM. UBS Asset Management Americas Inc. boosted its holdings in shares of Legg Mason by 13.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 81,668 shares of the asset manager’s stock worth $2,949,000 after buying an additional 9,978 shares during the last quarter. Prudential Financial Inc. raised its stake in Legg Mason by 1.2% in the 1st quarter. Prudential Financial Inc. now owns 54,899 shares of the asset manager’s stock valued at $1,982,000 after acquiring an additional 630 shares during the period. Credit Agricole S A raised its stake in Legg Mason by 63.3% in the 1st quarter. Credit Agricole S A now owns 8,049 shares of the asset manager’s stock valued at $291,000 after acquiring an additional 3,121 shares during the period. PNC Financial Services Group Inc. raised its stake in Legg Mason by 13.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 26,589 shares of the asset manager’s stock valued at $961,000 after acquiring an additional 3,126 shares during the period. Finally, Legal & General Group Plc raised its stake in Legg Mason by 46.1% in the 1st quarter. Legal & General Group Plc now owns 123,073 shares of the asset manager’s stock valued at $4,445,000 after acquiring an additional 38,833 shares during the period. 83.23% of the stock is currently owned by institutional investors.

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.

Earnings History and Estimates for Legg Mason (NYSE:LM)

Receive News & Ratings for Legg Mason Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Legg Mason Inc. and related companies with MarketBeat.com's FREE daily email newsletter.