Legg Mason, Inc. (NYSE:LM) is scheduled to issue its Q2 2018 quarterly earnings data on Thursday, October 26th. Analysts expect the company to announce earnings of $0.69 per share for the quarter.
Legg Mason (NYSE:LM) last issued its quarterly earnings results on Wednesday, July 26th. The asset manager reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.09. Legg Mason had a return on equity of 6.84% and a net margin of 8.21%. The business had revenue of $793.80 million during the quarter, compared to the consensus estimate of $766.60 million. During the same period in the previous year, the business earned $0.68 EPS. The business’s quarterly revenue was up 13.4% on a year-over-year basis. On average, analysts expect Legg Mason to post $2.26 EPS for the current fiscal year and $3.21 EPS for the next fiscal year.
Shares of Legg Mason, Inc. (NYSE LM) opened at 37.63 on Wednesday. The stock has a 50 day moving average price of $38.11 and a 200-day moving average price of $38.25. The company has a market capitalization of $3.52 billion, a P/E ratio of 15.64 and a beta of 2.23. Legg Mason, Inc. has a one year low of $28.10 and a one year high of $42.08.
LM has been the subject of a number of research reports. BidaskClub downgraded Legg Mason from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Zacks Investment Research upgraded Legg Mason from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Deutsche Bank AG initiated coverage on Legg Mason in a research report on Tuesday, October 17th. They issued a “buy” rating and a $44.00 price objective for the company. Morgan Stanley downgraded Legg Mason from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $37.00 to $36.00 in a research report on Thursday, October 5th. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $41.00 price objective (down previously from $43.00) on shares of Legg Mason in a research report on Friday, August 11th. Three 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. The company presently has a consensus rating of “Hold” and a consensus price target of $42.89.
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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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