Legg Mason (LM) Given Daily News Impact Rating of 0.30
News headlines about Legg Mason (NYSE:LM) have been trending positive this week, according to Accern Sentiment. Accern identifies negative and positive media coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Legg Mason earned a coverage optimism score of 0.30 on Accern’s scale. Accern also gave headlines about the asset manager an impact score of 46.9056442441205 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
A number of analysts recently weighed in on the stock. Jefferies Group LLC reissued a “buy” rating and issued a $49.00 target price on shares of Legg Mason in a research note on Sunday, August 20th. Citigroup Inc. reissued a “neutral” rating and issued a $41.00 target price (down previously from $43.00) on shares of Legg Mason in a research note on Friday, August 11th. BidaskClub cut shares of Legg Mason from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Royal Bank Of Canada reissued a “buy” rating and issued a $47.00 target price on shares of Legg Mason in a research note on Friday, July 28th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $38.00 target price (up previously from $35.00) on shares of Legg Mason in a research note on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Legg Mason presently has a consensus rating of “Hold” and a consensus target price of $41.78.
Shares of Legg Mason (NYSE LM) opened at 38.42 on Monday. The company has a market capitalization of $3.60 billion, a PE ratio of 15.97 and a beta of 2.21. Legg Mason has a 52 week low of $28.10 and a 52 week high of $42.08. The firm’s 50-day moving average is $38.63 and its 200 day moving average is $37.75.
Legg Mason (NYSE:LM) last announced its quarterly earnings results on Wednesday, July 26th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.09. The company had revenue of $793.80 million for the quarter, compared to analyst estimates of $766.60 million. Legg Mason had a net margin of 8.21% and a return on equity of 6.84%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 EPS. On average, analysts anticipate that Legg Mason will post $2.26 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 23rd. Investors of record on Thursday, October 5th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.92%. The ex-dividend date is Wednesday, October 4th. Legg Mason’s dividend payout ratio (DPR) is presently 46.47%.
In related news, Director Tian Qiao Chen sold 4,232,500 shares of Legg Mason stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $38.43, for a total transaction of $162,654,975.00. Following the sale, the director now directly owns 3,383 shares of the company’s stock, valued at approximately $130,008.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 12.70% of the company’s stock.
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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.
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