Legg Mason (LM) Earning Somewhat Favorable Media Coverage, Accern Reports
News stories about Legg Mason (NYSE:LM) have been trending somewhat positive this week, Accern Sentiment reports. Accern identifies negative and positive media coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Legg Mason earned a coverage optimism score of 0.20 on Accern’s scale. Accern also assigned headlines about the asset manager an impact score of 46.1875936616424 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
Here are some of the news headlines that may have impacted Accern Sentiment Analysis’s analysis:
- Reviewing Legg Mason (LM) and Its Rivals (americanbankingnews.com)
- Legg Mason’s (LM) AUM Down in August, Net Outflows Recorded (finance.yahoo.com)
- Legg Mason's (LM) AUM Down in August, Net Outflows Recorded (finance.yahoo.com)
- Legg Mason Reports Assets Under Management and Flows for August 2017 (finance.yahoo.com)
- Legg Mason, Inc. (LM) Coverage Initiated by Analysts at Barclays PLC (americanbankingnews.com)
Legg Mason (NYSE LM) opened at 38.21 on Friday. The company’s 50-day moving average is $37.82 and its 200-day moving average is $37.79. Legg Mason has a 12 month low of $28.10 and a 12 month high of $42.08. The company has a market cap of $3.58 billion, a P/E ratio of 15.88 and a beta of 2.21.
Legg Mason (NYSE:LM) last issued its quarterly earnings data on Wednesday, July 26th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.09. Legg Mason had a net margin of 8.21% and a return on equity of 6.84%. The firm had revenue of $793.80 million for the quarter, compared to the consensus estimate of $766.60 million. During the same quarter in the previous year, the firm earned $0.68 EPS. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts expect that Legg Mason will post $2.26 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 23rd. Stockholders of record on Thursday, October 5th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Wednesday, October 4th. Legg Mason’s payout ratio is currently 46.47%.
Several research firms recently commented on LM. Barclays PLC began coverage on shares of Legg Mason in a research note on Friday, September 8th. They set an “equal weight” rating and a $39.00 price objective on the stock. Jefferies Group LLC reiterated 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. reiterated 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 downgraded shares of Legg Mason from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $47.00 target price on shares of Legg Mason in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Legg Mason currently has an average rating of “Hold” and an average price target of $42.00.
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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 value of $162,654,975.00. Following the completion of the sale, the director now directly owns 3,383 shares in the company, valued at approximately $130,008.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 12.70% of the stock is owned by company insiders.
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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