Equities analysts expect Legg Mason, Inc. (NYSE:LM) to post $761.33 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for Legg Mason’s earnings. The highest sales estimate is $776.00 million and the lowest is $735.10 million. Legg Mason reported sales of $715.24 million during the same quarter last year, which indicates a positive year over year growth rate of 6.4%. The firm is expected to report its next earnings report on Wednesday, February 7th.

On average, analysts expect that Legg Mason will report full-year sales of $761.33 million for the current financial year, with estimates ranging from $3.07 billion to $3.09 billion. For the next year, analysts anticipate that the company will post sales of $3.02 billion per share, with estimates ranging from $2.90 billion to $3.09 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Legg Mason.

Legg Mason (NYSE:LM) last announced its earnings results on Wednesday, October 25th. The asset manager reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.10. The firm had revenue of $768.30 million for the quarter, compared to the consensus estimate of $739.47 million. Legg Mason had a return on equity of 7.16% and a net margin of 8.46%. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.63 EPS.

LM has been the topic of a number of research reports. Zacks Investment Research raised Legg Mason from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Wednesday, November 8th. Deutsche Bank initiated coverage on Legg Mason in a research note on Tuesday, October 17th. They issued a “buy” rating and a $44.00 price objective on the stock. Royal Bank Of Canada set a $47.00 price objective on Legg Mason and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $47.00 price objective on shares of Legg Mason in a research note on Friday, September 29th. Finally, Jefferies Group reissued a “buy” rating and issued a $49.00 price objective on shares of Legg Mason in a research note on Sunday, August 20th. Three equities 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 presently has an average rating of “Hold” and an average target price of $43.10.

Hedge funds have recently modified their holdings of the company. WBI Investments Inc. purchased a new position in shares of Legg Mason during the second quarter valued at $1,654,000. Verition Fund Management LLC purchased a new position in shares of Legg Mason during the second quarter valued at $429,000. Vanguard Group Inc. grew its holdings in shares of Legg Mason by 2.4% during the second quarter. Vanguard Group Inc. now owns 7,399,178 shares of the asset manager’s stock valued at $282,352,000 after buying an additional 174,167 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Legg Mason by 58.9% during the second quarter. BNP Paribas Arbitrage SA now owns 39,569 shares of the asset manager’s stock valued at $1,510,000 after buying an additional 14,673 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Legg Mason by 77.3% during the second quarter. JPMorgan Chase & Co. now owns 366,377 shares of the asset manager’s stock valued at $13,981,000 after buying an additional 159,712 shares in the last quarter. Institutional investors and hedge funds own 82.58% of the company’s stock.

Shares of Legg Mason (NYSE:LM) opened at $40.15 on Friday. Legg Mason has a 12 month low of $29.71 and a 12 month 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 capitalization of $3,691.31, a price-to-earnings ratio of 13.99, a PEG ratio of 0.94 and a beta of 2.27.

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Wednesday, December 20th will be issued a dividend of $0.28 per share. The ex-dividend date is Tuesday, December 19th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.79%. Legg Mason’s dividend payout ratio is 43.75%.

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

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