Legg Mason Inc. (NYSE:LM) – Investment analysts at Gabelli issued their Q2 2017 EPS estimates for Legg Mason in a research note issued on Thursday. Gabelli analyst M. Sykes forecasts that the brokerage will earn $0.61 per share for the quarter. Gabelli also issued estimates for Legg Mason’s Q3 2017 earnings at $0.69 EPS, Q4 2017 earnings at $0.73 EPS, FY2017 earnings at $2.34 EPS, FY2018 earnings at $3.29 EPS and FY2020 earnings at $4.85 EPS.

LM has been the subject of several other research reports. Zacks Investment Research raised Legg Mason from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 27th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $4.00 price target on shares of Legg Mason in a research report on Monday, September 12th. Citigroup Inc. raised their price target on Legg Mason from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Jefferies Group reissued a “buy” rating and set a $36.00 price target (down previously from $39.00) on shares of Legg Mason in a research report on Monday, July 11th. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of Legg Mason in a research report on Monday, July 18th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Legg Mason currently has a consensus rating of “Buy” and an average target price of $42.11.

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

Legg Mason (NYSE:LM) opened at 31.845 on Monday. The firm’s market cap is $3.30 billion. Legg Mason has a 1-year low of $24.93 and a 1-year high of $46.41. The company’s 50-day moving average price is $33.62 and its 200 day moving average price is $32.85.

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

The company also recently announced a quarterly dividend, which will be paid on Monday, October 24th. Investors of record on Thursday, October 6th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Tuesday, October 4th. Legg Mason’s payout ratio is currently -103.53%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP boosted 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 worth $26,559,000 after buying an additional 421,217 shares during the last quarter. Geode Capital Management LLC boosted 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 worth $35,467,000 after buying an additional 150,734 shares in the last quarter. Junto Capital Management LP bought a new position in shares of Legg Mason during the first quarter worth approximately $28,672,000. Bogle Investment Management L P DE boosted 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 worth $1,494,000 after buying an additional 9,116 shares in the last quarter. Finally, Systematic Financial Management LP boosted its position in shares of Legg Mason by 24.3% in the second quarter. Systematic Financial Management LP now owns 302,497 shares of the company’s stock worth $8,920,000 after buying an additional 59,227 shares in the last quarter. Hedge funds and other institutional investors own 78.70% of the company’s stock.

About Legg Mason

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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