Legg Mason (NYSE:LM) is set to post its quarterly earnings results after the market closes on Wednesday, October 30th. Analysts expect Legg Mason to post earnings of $0.86 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.
Legg Mason (NYSE:LM) last released its quarterly earnings results on Thursday, August 1st. The asset manager reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.03. Legg Mason had a negative net margin of 1.72% and a positive return on equity of 7.24%. The company had revenue of $705.36 million for the quarter, compared to analyst estimates of $708.70 million. During the same quarter last year, the firm posted $0.75 earnings per share. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. On average, analysts expect Legg Mason to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.
Shares of LM stock opened at $35.25 on Wednesday. Legg Mason has a 1 year low of $23.25 and a 1 year high of $40.27. The firm’s fifty day simple moving average is $37.27 and its 200 day simple moving average is $36.32. The firm has a market capitalization of $3.11 billion, a P/E ratio of 11.60, a price-to-earnings-growth ratio of 0.79 and a beta of 1.51. The company has a current ratio of 2.01, a quick ratio of 1.41 and a debt-to-equity ratio of 0.61.
A number of brokerages recently issued reports on LM. Barclays reaffirmed a “hold” rating and set a $38.00 target price on shares of Legg Mason in a research report on Wednesday, October 9th. Zacks Investment Research lowered shares of Legg Mason from a “buy” rating to a “hold” rating and set a $38.00 target price on the stock. in a research report on Monday, August 19th. Wells Fargo & Co set a $38.00 target price on shares of Legg Mason and gave the stock a “hold” rating in a research report on Thursday, October 10th. Credit Suisse Group boosted their target price on shares of Legg Mason from $39.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Finally, ValuEngine lowered shares of Legg Mason from a “sell” rating to a “strong sell” rating in a research report on Monday, October 7th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $34.36.
Legg Mason Company Profile
Legg Mason, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides investment management and related services to company-sponsored mutual funds and other investment vehicles including pension funds, foundations, endowments, sovereign wealth funds, insurance companies, private banks, family offices, individuals, as well as to global, institutional, and retail clients.
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