Positive News Coverage Somewhat Unlikely to Affect Legg Mason (NYSE:LM) Stock Price
News stories about Legg Mason (NYSE:LM) have trended positive recently, according to Accern. The research firm scores the sentiment of media coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Legg Mason earned a news sentiment score of 0.26 on Accern’s scale. Accern also gave media headlines about the asset manager an impact score of 46.5394314942557 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
These are some of the media headlines that may have impacted Accern Sentiment Analysis’s scoring:
- Legg Mason’s (NYSE:LM) “Buy” Rating Reaffirmed at Royal Bank Of Canada (elcumanes.com)
- Legg Mason, Inc. (NYSE:LM) Experiences Lighter than Average Trading Volume (campdesrecrues.com)
- Legg Mason, Inc. (NYSE:LM) Stock Rating Reaffirmed by Morgan Stanley (expressnewsline.com)
- Legg Mason, Inc. (LM) Downgraded to Hold at BidaskClub (overnewsmagazine.com)
- Legg Mason (LM) Passes Through 3% Yield Mark (nasdaq.com)
Shares of Legg Mason (NYSE LM) opened at 37.45 on Friday. Legg Mason has a 52 week low of $28.10 and a 52 week high of $42.08. The firm has a market capitalization of $3.51 billion, a PE ratio of 15.57 and a beta of 2.20. The firm’s 50-day moving average is $39.19 and its 200 day moving average is $37.34.
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, topping the Thomson Reuters’ 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 firm had revenue of $793.80 million during the quarter, compared to the consensus estimate of $766.60 million. During the same period last year, the company earned $0.68 earnings per share. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, equities analysts forecast that Legg Mason will post $2.26 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 23rd. Shareholders of record on Thursday, October 5th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Wednesday, October 4th. Legg Mason’s payout ratio is 46.47%.
LM has been the subject of a number of research reports. Credit Suisse Group reaffirmed a “buy” rating and set a $47.00 target price on shares of Legg Mason in a report on Sunday, July 9th. Jefferies Group LLC increased their price objective on shares of Legg Mason from $41.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Royal Bank Of Canada began coverage on shares of Legg Mason in a research report on Thursday, June 29th. They set an “outperform” rating and a $45.00 target price for the company. Zacks Investment Research lowered shares of Legg Mason from a “hold” rating to a “sell” rating in a research report on Tuesday, June 13th. Finally, BidaskClub upgraded shares of Legg Mason from a “hold” rating to a “buy” rating in a research report on Saturday, June 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $41.11.
In other news, Director Tian Qiao Chen sold 4,232,500 shares of the firm’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $38.43, for a total value of $162,654,975.00. Following the completion of the transaction, the director now owns 3,383 shares in the company, valued at $130,008.69. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 12.70% of the company’s stock.
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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