$0.71 Earnings Per Share Expected for Legg Mason (LM) This Quarter

Brokerages forecast that Legg Mason (NYSE:LM) will announce earnings of $0.71 per share for the current quarter, according to Zacks. Three analysts have issued estimates for Legg Mason’s earnings, with estimates ranging from $0.69 to $0.76. Legg Mason posted earnings per share of $0.92 in the same quarter last year, which would suggest a negative year over year growth rate of 22.8%. The company is expected to announce its next quarterly earnings report after the market closes on Wednesday, April 25th.

On average, analysts expect that Legg Mason will report full year earnings of $3.61 per share for the current fiscal year, with EPS estimates ranging from $3.55 to $3.69. For the next year, analysts expect that the firm will report earnings of $3.61 per share, with EPS estimates ranging from $3.41 to $3.75. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Legg Mason.

Legg Mason (NYSE:LM) last released its quarterly earnings results on Wednesday, January 24th. The asset manager reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.18. Legg Mason had a return on equity of 8.21% and a net margin of 11.43%. The business had revenue of $793.10 million during the quarter, compared to the consensus estimate of $777.11 million. During the same quarter in the previous year, the business earned $0.50 EPS. The company’s quarterly revenue was up 10.9% on a year-over-year basis.

A number of equities research analysts have issued reports on the stock. Morgan Stanley lowered their target price on shares of Legg Mason from $42.00 to $40.00 and set an “underweight” rating on the stock in a report on Tuesday, April 10th. Deutsche Bank boosted their price target on shares of Legg Mason from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, April 6th. Citigroup restated a “neutral” rating and set a $50.00 price target (up from $49.00) on shares of Legg Mason in a research report on Thursday, January 25th. Zacks Investment Research lowered shares of Legg Mason from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, ValuEngine lowered shares of Legg Mason from a “buy” rating to a “hold” rating in a research report on Thursday, April 12th. Three analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Legg Mason currently has a consensus rating of “Hold” and an average price target of $46.40.

Several large investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in Legg Mason by 8.9% in the fourth quarter. BlackRock Inc. now owns 7,968,793 shares of the asset manager’s stock worth $334,532,000 after buying an additional 652,719 shares in the last quarter. LSV Asset Management grew its holdings in Legg Mason by 23.1% in the fourth quarter. LSV Asset Management now owns 3,469,278 shares of the asset manager’s stock worth $145,640,000 after purchasing an additional 650,160 shares during the period. Clarkston Capital Partners LLC grew its holdings in Legg Mason by 3.8% in the fourth quarter. Clarkston Capital Partners LLC now owns 3,303,897 shares of the asset manager’s stock worth $138,698,000 after purchasing an additional 119,604 shares during the period. Millennium Management LLC grew its holdings in Legg Mason by 269.3% in the fourth quarter. Millennium Management LLC now owns 1,655,666 shares of the asset manager’s stock worth $69,505,000 after purchasing an additional 1,207,280 shares during the period. Finally, Macquarie Group Ltd. grew its holdings in Legg Mason by 2.0% in the fourth quarter. Macquarie Group Ltd. now owns 1,052,376 shares of the asset manager’s stock worth $44,179,000 after purchasing an additional 20,732 shares during the period. 91.45% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:LM traded down $0.07 during mid-day trading on Monday, reaching $38.07. The company had a trading volume of 653,790 shares, compared to its average volume of 724,542. The company has a current ratio of 1.98, a quick ratio of 1.41 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $3,224.37, a PE ratio of 11.28, a price-to-earnings-growth ratio of 0.67 and a beta of 2.05. Legg Mason has a one year low of $36.10 and a one year high of $47.13.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 16th. Shareholders of record on Thursday, March 15th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $1.12 annualized dividend and a yield of 2.94%. Legg Mason’s payout ratio is 33.73%.

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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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