Analysts Offer Predictions for Legg Mason Inc’s Q3 2018 Earnings (LM)

Legg Mason Inc (NYSE:LM) – Jefferies Group upped their Q3 2018 EPS estimates for Legg Mason in a note issued to investors on Wednesday. Jefferies Group analyst D. Fannon now anticipates that the asset manager will post earnings of $0.83 per share for the quarter, up from their previous estimate of $0.70. Jefferies Group has a “Hold” rating on the stock. Jefferies Group also issued estimates for Legg Mason’s FY2019 earnings at $3.48 EPS.

Legg Mason (NYSE:LM) last announced its quarterly earnings data on Wednesday, October 25th. The asset manager reported $0.79 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $739.47 million. During the same period last year, the business earned $0.63 EPS. The company’s revenue was up 2.7% on a year-over-year basis.

LM has been the topic of a number of other reports. Credit Suisse Group increased their target price on shares of Legg Mason from $48.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, October 26th. Zacks Investment Research raised shares of Legg Mason from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Wednesday, November 8th. Deutsche Bank assumed coverage on shares of Legg Mason in a research report on Tuesday, October 17th. They issued a “buy” rating and a $44.00 target price on the stock. Morgan Stanley downgraded shares of Legg Mason from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $37.00 to $36.00 in a research report on Thursday, October 5th. Finally, Citigroup reaffirmed a “hold” rating and issued a $42.00 target price on shares of Legg Mason in a research report on Tuesday, December 26th. Two analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Legg Mason has an average rating of “Hold” and a consensus target price of $43.90.

Shares of Legg Mason (LM) traded up $0.92 on Friday, hitting $43.74. 740,174 shares of the stock were exchanged, compared to its average volume of 829,739. Legg Mason has a fifty-two week low of $30.81 and a fifty-two week high of $43.76. The firm has a market cap of $4,020.00, a price-to-earnings ratio of 17.09, a price-to-earnings-growth ratio of 1.02 and a beta of 2.27. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.51 and a quick ratio of 1.79.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. WBI Investments Inc. purchased a new position in Legg Mason during the 2nd quarter worth $1,654,000. Verition Fund Management LLC purchased a new position in Legg Mason during the 2nd quarter worth $429,000. Vanguard Group Inc. grew its position in Legg Mason by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 7,399,178 shares of the asset manager’s stock worth $282,352,000 after purchasing an additional 174,167 shares during the last quarter. JPMorgan Chase & Co. grew its position in Legg Mason by 77.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 366,377 shares of the asset manager’s stock worth $13,981,000 after purchasing an additional 159,712 shares during the last quarter. Finally, APG Asset Management N.V. purchased a new position in Legg Mason during the 3rd quarter worth $2,123,000. 82.49% of the stock is currently owned by hedge funds and other institutional investors.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Wednesday, December 20th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Tuesday, December 19th. Legg Mason’s dividend payout ratio (DPR) 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.

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

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