Analysts expect Legg Mason, Inc. (NYSE:LM) to report earnings of $0.81 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Legg Mason’s earnings, with estimates ranging from $0.70 to $0.88. Legg Mason reported earnings of $0.50 per share in the same quarter last year, which indicates a positive year over year growth rate of 62%. The firm is scheduled to report its next earnings report on Wednesday, February 7th.

According to Zacks, analysts expect that Legg Mason will report full year earnings of $2.84 per share for the current year, with EPS estimates ranging from $2.72 to $2.89. For the next financial year, analysts anticipate that the company will post earnings of $3.11 per share, with EPS estimates ranging from $2.65 to $3.32. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Legg Mason.

Legg Mason (NYSE:LM) last released its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.10. Legg Mason had a net margin of 8.46% and a return on equity of 7.16%. The business had revenue of $768.30 million during the quarter, compared to analysts’ expectations of $739.47 million. During the same quarter in the previous year, the company earned $0.63 EPS. The business’s quarterly revenue was up 2.7% compared to the same quarter last year.

LM has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of Legg Mason from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Credit Suisse Group lifted their price objective on Legg Mason from $48.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, October 26th. Royal Bank Of Canada set a $47.00 price objective on Legg Mason and gave the company a “buy” rating in a report on Wednesday, October 18th. Deutsche Bank initiated coverage on Legg Mason in a report on Tuesday, October 17th. They issued a “buy” rating and a $44.00 price objective for the company. Finally, Morgan Stanley downgraded Legg Mason from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $37.00 to $36.00 in a report on Thursday, October 5th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. Legg Mason currently has an average rating of “Hold” and a consensus price target of $43.10.

Legg Mason (NYSE LM) traded up $0.12 during trading hours on Friday, reaching $39.96. 791,000 shares of the company were exchanged, compared to its average volume of 1,077,070. Legg Mason has a 52 week low of $29.71 and a 52 week high of $42.08. The company has a quick ratio of 1.79, a current ratio of 2.51 and a debt-to-equity ratio of 0.56. The company has a market cap of $3,660.03, a price-to-earnings ratio of 13.87, a P/E/G ratio of 0.93 and a beta of 2.27.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Wednesday, December 20th will be given a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, December 19th. This represents a $1.12 annualized dividend and a yield of 2.80%. Legg Mason’s dividend payout ratio is presently 43.75%.

Large investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Legg Mason by 10.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,193 shares of the asset manager’s stock valued at $122,000 after purchasing an additional 294 shares during the last quarter. QCM Cayman Ltd. acquired a new position in Legg Mason in the 2nd quarter valued at $200,000. Gotham Asset Management LLC acquired a new position in Legg Mason in the 2nd quarter valued at $212,000. Raymond James Financial Services Advisors Inc. acquired a new position in Legg Mason in the 3rd quarter valued at $224,000. Finally, Institute for Wealth Management LLC. acquired a new position in Legg Mason in the 2nd quarter valued at $224,000. Hedge funds and other institutional investors own 82.58% of the company’s stock.

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About Legg Mason

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

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