Press coverage about Legg Mason (NYSE:LM) has trended somewhat positive on Saturday, Accern Sentiment reports. The research group identifies negative and positive press coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Legg Mason earned a news sentiment score of 0.17 on Accern’s scale. Accern also assigned media headlines about the asset manager an impact score of 46.7831666839155 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 media headlines that may have effected Accern Sentiment Analysis’s analysis:
- Legg Mason Inc (LM) Receives Consensus Rating of “Hold” from Analysts (americanbankingnews.com)
- Bill Miller Reassures Investors That High Interest Rates Are Still OK for Stocks (finance.yahoo.com)
- Legg Mason Inc (LM) Plans $0.28 Quarterly Dividend (americanbankingnews.com)
- Free Research Report as Legg Mason’s Operating Revenue Jumped 11%; EPS Soared 216% (finance.yahoo.com)
- Legg Mason (LM) PT Set at $42.00 by Morgan Stanley (americanbankingnews.com)
A number of analysts recently weighed in on the stock. Bank of America increased their price objective on shares of Legg Mason from $42.00 to $44.00 and gave the stock an “underperform” rating in a report on Thursday, January 25th. Royal Bank of Canada increased their price objective on shares of Legg Mason to $57.00 and gave the stock an “outperform” rating in a report on Thursday, January 25th. Citigroup reaffirmed a “neutral” rating and issued a $50.00 price objective (up previously from $49.00) on shares of Legg Mason in a report on Thursday, January 25th. Morgan Stanley set a $42.00 target price on shares of Legg Mason and gave the company a “sell” rating in a research note on Tuesday. Finally, Jefferies Group cut shares of Legg Mason from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $45.91.
Legg Mason (NYSE:LM) last released its earnings results on Wednesday, January 24th. The asset manager reported $1.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.18. The firm had revenue of $793.10 million for the quarter, compared to analysts’ expectations of $777.11 million. Legg Mason had a net margin of 11.43% and a return on equity of 8.12%. Legg Mason’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the company earned $0.50 EPS. equities research analysts anticipate that Legg Mason will post 3.66 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Shareholders of record on Thursday, March 15th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.12 annualized dividend and a yield of 2.72%. Legg Mason’s payout ratio is 30.77%.
Legg Mason Company Profile
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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