Analysts predict that Legg Mason Inc (NYSE:LM) will post earnings per share of $0.83 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Legg Mason’s earnings, with the highest EPS estimate coming in at $0.89 and the lowest estimate coming in at $0.79. Legg Mason reported earnings of $0.79 per share during the same quarter last year, which would suggest a positive year over year growth rate of 5.1%. The firm is scheduled to issue its next earnings results after the market closes on Wednesday, October 24th.

On average, analysts expect that Legg Mason will report full-year earnings of $3.34 per share for the current fiscal year, with EPS estimates ranging from $3.20 to $3.61. For the next fiscal year, analysts anticipate that the firm will post earnings of $3.56 per share, with EPS estimates ranging from $3.39 to $3.71. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Legg Mason.

Legg Mason (NYSE:LM) last posted its quarterly earnings data on Wednesday, July 25th. The asset manager reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.03). Legg Mason had a net margin of 11.87% and a return on equity of 8.12%. The firm had revenue of $747.91 million during the quarter, compared to analysts’ expectations of $748.72 million. During the same quarter last year, the business earned $0.52 earnings per share. The business’s quarterly revenue was down 5.8% on a year-over-year basis.

LM has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Legg Mason from a “hold” rating to a “sell” rating in a report on Tuesday, June 26th. ValuEngine downgraded Legg Mason from a “sell” rating to a “strong sell” rating in a report on Monday, July 2nd. Morgan Stanley reduced their target price on Legg Mason from $39.00 to $34.00 and set an “underweight” rating for the company in a report on Thursday, July 12th. Wells Fargo & Co reduced their target price on Legg Mason from $44.00 to $43.00 and set an “outperform” rating for the company in a report on Friday, July 13th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $40.00 target price on shares of Legg Mason in a report on Thursday, July 26th. Four equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $43.60.

Legg Mason stock traded down $0.05 during midday trading on Friday, reaching $28.83. The company’s stock had a trading volume of 1,074,981 shares, compared to its average volume of 906,564. Legg Mason has a fifty-two week low of $28.24 and a fifty-two week high of $47.13. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.64 and a current ratio of 2.41. The company has a market cap of $2.67 billion, a P/E ratio of 7.75, a price-to-earnings-growth ratio of 0.54 and a beta of 1.88.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 23rd. Shareholders of record on Friday, October 5th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date is Thursday, October 4th. Legg Mason’s dividend payout ratio (DPR) is currently 36.56%.

In other Legg Mason news, insider Frances Cashman sold 10,058 shares of the firm’s stock in a transaction on Monday, September 24th. The stock was sold at an average price of $31.61, for a total value of $317,933.38. Following the completion of the sale, the insider now owns 72,937 shares of the company’s stock, valued at $2,305,538.57. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 4.33% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Granite Investment Advisors LLC raised its stake in shares of Legg Mason by 29.2% during the 2nd quarter. Granite Investment Advisors LLC now owns 7,750 shares of the asset manager’s stock worth $269,000 after buying an additional 1,750 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of Legg Mason by 25.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 8,815 shares of the asset manager’s stock worth $275,000 after buying an additional 1,785 shares during the last quarter. Factorial Partners LLC raised its stake in shares of Legg Mason by 2.7% during the 2nd quarter. Factorial Partners LLC now owns 76,800 shares of the asset manager’s stock worth $2,667,000 after buying an additional 2,000 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Legg Mason by 3.7% during the 2nd quarter. Arizona State Retirement System now owns 59,333 shares of the asset manager’s stock worth $2,061,000 after buying an additional 2,097 shares during the last quarter. Finally, United Services Automobile Association raised its stake in shares of Legg Mason by 13.6% during the 2nd quarter. United Services Automobile Association now owns 17,669 shares of the asset manager’s stock worth $614,000 after buying an additional 2,113 shares during the last quarter. 86.55% of the stock is owned by institutional investors and hedge funds.

Legg Mason Company Profile

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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