Legg Mason (NYSE:LM) is scheduled to announce its earnings results on Tuesday, January 30th.
Legg Mason (NYSE:LM) last issued its earnings results on Wednesday, October 25th. The asset manager reported $0.79 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.10. The firm 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 7.16%. The firm’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period last year, the firm posted $0.63 earnings per share. On average, analysts expect Legg Mason to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.
Shares of Legg Mason (NYSE LM) opened at $44.93 on Tuesday. The firm has a market cap of $4,109.61, a P/E ratio of 17.55, a P/E/G ratio of 1.07 and a beta of 2.27. Legg Mason has a 1-year low of $30.81 and a 1-year high of $44.96. The company has a current ratio of 2.51, a quick ratio of 1.79 and a debt-to-equity ratio of 0.56.
A number of analysts recently weighed in on LM shares. Keefe, Bruyette & Woods restated a “buy” rating and set a $47.00 target price on shares of Legg Mason in a report on Friday, September 29th. Royal Bank of Canada set a $47.00 target price on shares of Legg Mason and gave the stock a “buy” rating in a report on Wednesday, October 18th. Deutsche Bank began coverage on shares of Legg Mason in a report on Tuesday, October 17th. They set a “buy” rating and a $44.00 target price for the company. Zacks Investment Research upgraded shares of Legg Mason from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a research report on Wednesday, November 8th. Finally, Citigroup restated a “hold” rating and issued a $42.00 price target on shares of Legg Mason in a research report on Tuesday, December 26th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $43.90.
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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