Legg Mason (LM) Earning Positive Press Coverage, Analysis Shows
News headlines about Legg Mason (NYSE:LM) have trended positive this week, according to Accern Sentiment. Accern identifies negative and positive press coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Legg Mason earned a news sentiment score of 0.29 on Accern’s scale. Accern also assigned news headlines about the asset manager an impact score of 46.2962000070815 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
These are some of the headlines that may have impacted Accern’s scoring:
- Legg Mason Inc (LM) Given Average Recommendation of “Hold” by Brokerages (americanbankingnews.com)
- Legg Mason Earns Relative Strength Rating Upgrade (finance.yahoo.com)
- Will Legg Mason (LM) Crush Estimates at Its Next Earnings Report? (finance.yahoo.com)
- Legg Mason Inc (LM) Expected to Announce Quarterly Sales of $761.33 Million (americanbankingnews.com)
- Credit Suisse Downgrades Legg Mason, Says Its Thesis Parallels The Consensus (finance.yahoo.com)
Shares of Legg Mason (LM) traded up $0.44 during trading hours on Tuesday, hitting $42.83. 1,309,385 shares of the company were exchanged, compared to its average volume of 955,983. The firm has a market cap of $3,900.00, a P/E ratio of 16.73, a price-to-earnings-growth ratio of 0.96 and a beta of 2.27. The company has a quick ratio of 1.79, a current ratio of 2.51 and a debt-to-equity ratio of 0.56. Legg Mason has a 1-year low of $30.65 and a 1-year high of $43.29.
Legg Mason (NYSE:LM) last announced its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.10. The business had revenue of $768.30 million for the quarter, compared to the consensus estimate of $739.47 million. Legg Mason had a net margin of 8.46% and a return on equity of 7.16%. Legg Mason’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period last year, the company posted $0.63 EPS. equities analysts anticipate that Legg Mason will post 2.89 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Wednesday, December 20th will be given a $0.28 dividend. The ex-dividend date is Tuesday, December 19th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.61%. Legg Mason’s dividend payout ratio is 43.75%.
LM has been the topic of several recent research reports. Credit Suisse Group raised their target price on shares of Legg Mason from $48.00 to $49.00 and gave the company an “outperform” rating in a research note on Thursday, October 26th. Zacks Investment Research raised shares of Legg Mason from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research note on Wednesday, November 8th. Deutsche Bank initiated coverage on shares of Legg Mason in a research note on Tuesday, October 17th. They issued a “buy” rating and a $44.00 target price on the stock. Morgan Stanley lowered shares of Legg Mason from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $37.00 to $36.00 in a research note on Thursday, October 5th. Finally, Citigroup reaffirmed a “hold” rating and issued a $42.00 target price on shares of Legg Mason in a research note on Tuesday, December 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $43.90.
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.
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