Wall Street brokerages expect Legg Mason Inc (NYSE:LM) to announce $737.77 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Legg Mason’s earnings. The lowest sales estimate is $734.53 million and the highest is $741.00 million. Legg Mason posted sales of $793.09 million in the same quarter last year, which suggests a negative year-over-year growth rate of 7%. The company is expected to announce its next quarterly earnings report on Wednesday, January 23rd.

According to Zacks, analysts expect that Legg Mason will report full-year sales of $2.99 billion for the current fiscal year, with estimates ranging from $2.94 billion to $3.05 billion. For the next fiscal year, analysts forecast that the company will post sales of $3.04 billion, with estimates ranging from $2.96 billion to $3.14 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Legg Mason.

Legg Mason (NYSE:LM) last announced its quarterly earnings data on Wednesday, October 24th. The asset manager reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). The firm had revenue of $758.43 million during the quarter, compared to analyst estimates of $755.29 million. Legg Mason had a net margin of 11.81% and a return on equity of 8.03%.

A number of research analysts have recently weighed in on the company. Bank of America raised Legg Mason from an “underperform” rating to a “neutral” rating and cut their price objective for the company from $30.00 to $29.00 in a report on Friday. Deutsche Bank lowered Legg Mason from a “buy” rating to a “hold” rating and cut their price objective for the company from $31.00 to $27.00 in a report on Thursday. Zacks Investment Research raised Legg Mason from a “sell” rating to a “hold” rating in a report on Monday, December 31st. Morgan Stanley lowered their target price on Legg Mason from $32.00 to $25.00 and set a “sell” rating on the stock in a research note on Wednesday, November 14th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $33.00 target price on shares of Legg Mason in a research note on Monday, October 29th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Legg Mason presently has an average rating of “Hold” and an average target price of $37.55.

Shares of LM stock traded down $0.11 during mid-day trading on Friday, reaching $26.70. The stock had a trading volume of 940,210 shares, compared to its average volume of 942,301. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.27 and a current ratio of 1.77. The firm has a market capitalization of $2.31 billion, a PE ratio of 7.18, a P/E/G ratio of 0.54 and a beta of 1.60. Legg Mason has a 1-year low of $23.25 and a 1-year high of $47.13.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 14th. Stockholders of record on Wednesday, December 19th will be paid a $0.34 dividend. The ex-dividend date is Tuesday, December 18th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 5.09%. Legg Mason’s payout ratio is 36.56%.

Institutional investors and hedge funds have recently modified their holdings of the company. West Coast Financial LLC boosted its position in Legg Mason by 5.9% during the third quarter. West Coast Financial LLC now owns 133,917 shares of the asset manager’s stock worth $4,182,000 after purchasing an additional 7,505 shares in the last quarter. Macquarie Group Ltd. boosted its position in Legg Mason by 2.0% during the third quarter. Macquarie Group Ltd. now owns 1,270,046 shares of the asset manager’s stock worth $39,664,000 after purchasing an additional 25,300 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in Legg Mason during the second quarter worth approximately $142,000. Capital Fund Management S.A. purchased a new position in Legg Mason during the third quarter worth approximately $2,142,000. Finally, Strs Ohio purchased a new position in Legg Mason during the second quarter worth approximately $390,000. Hedge funds and other institutional investors own 83.92% of the company’s stock.

About Legg Mason

Legg Mason, Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides investment management and related services to company-sponsored mutual funds and other investment vehicles including pension funds, foundations, endowments, sovereign wealth funds, insurance companies, private banks, family offices, individuals, as well as to global, institutional, and retail clients.

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

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