Legg Mason Inc. (NYSE:LM) – Analysts at Jefferies Group decreased their Q2 2017 EPS estimates for Legg Mason in a research note issued on Tuesday. Jefferies Group analyst D. Fannon now expects that the brokerage will post earnings per share of $0.58 for the quarter, down from their prior estimate of $0.62. Jefferies Group has a “Buy” rating and a $33.00 price objective on the stock. Jefferies Group also issued estimates for Legg Mason’s Q1 2018 earnings at $0.69 EPS, Q2 2018 earnings at $0.76 EPS, Q3 2018 earnings at $0.82 EPS, Q4 2018 earnings at $0.80 EPS and FY2018 earnings at $3.07 EPS.

A number of other analysts have also weighed in on LM. Zacks Investment Research raised shares of Legg Mason from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Friday, October 7th. Citigroup Inc. raised their price target on shares of Legg Mason from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Wells Fargo & Co. reissued a “buy” rating on shares of Legg Mason in a report on Monday, July 18th. Morgan Stanley raised their price target on shares of Legg Mason from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Thursday, July 28th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $4.00 price target on shares of Legg Mason in a report on Monday, September 12th. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Legg Mason has an average rating of “Buy” and a consensus target price of $37.67.

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

Legg Mason (NYSE:LM) traded up 1.94% during midday trading on Wednesday, reaching $32.63. The company’s stock had a trading volume of 2,953,479 shares. Legg Mason has a 1-year low of $24.93 and a 1-year high of $46.41. The company has a 50 day moving average of $33.95 and a 200-day moving average of $32.93. The company’s market capitalization is $3.38 billion.

Legg Mason (NYSE:LM) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.06. The company had revenue of $700.20 million for the quarter, compared to analyst estimates of $681.99 million. Legg Mason had a positive return on equity of 7.06% and a negative net margin of 3.25%. Legg Mason’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.14 EPS.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 24th. Stockholders of record on Thursday, October 6th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Tuesday, October 4th. Legg Mason’s dividend payout ratio (DPR) is -103.53%.

Several institutional investors have recently made changes to their positions in the stock. Bogle Investment Management L P DE raised its position in shares of Legg Mason by 26.8% in the first quarter. Bogle Investment Management L P DE now owns 43,086 shares of the company’s stock valued at $1,494,000 after buying an additional 9,116 shares during the period. Wellington Management Group LLP raised its position in shares of Legg Mason by 122.2% in the first quarter. Wellington Management Group LLP now owns 765,818 shares of the company’s stock valued at $26,559,000 after buying an additional 421,217 shares during the period. Ironwood Investment Counsel LLC purchased a new position in shares of Legg Mason during the first quarter valued at about $227,000. Geode Capital Management LLC raised its position in shares of Legg Mason by 17.3% in the first quarter. Geode Capital Management LLC now owns 1,024,433 shares of the company’s stock valued at $35,467,000 after buying an additional 150,734 shares during the period. Finally, Fairpointe Capital LLC raised its position in shares of Legg Mason by 43.0% in the first quarter. Fairpointe Capital LLC now owns 51,850 shares of the company’s stock valued at $1,798,000 after buying an additional 15,600 shares during the period. 78.66% of the stock is owned by institutional investors.

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.

5 Day Chart for NYSE:LM

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