Recap: Legg Mason Q1 Earnings

Shares of Legg Mason LM were flat in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share fell 5.33% over the past year to $0.71, which beat the estimate of $0.64.

Revenue of $666,186,000 declined by 5.55% from the same period last year, which missed the estimate of $677,750,000.

Looking Ahead

Legg Mason hasn't issued any earnings guidance for the time being.

Revenue guidance hasn't been issued by the company for now.

Recent Stock Performance

52-week high: $50.70

Company's 52-week low was at $33.99

Price action over last quarter: Up 0.30%

Company Profile

Legg Mason provides investment management services for institutional and individual investors. The firm had $783.4 billion in managed assets at the end of June, spread among its equity (25% of total AUM), fixed-income (57%), alternatives (9%), and money market (9%) investment platforms. Legg Mason uses a multiaffiliate business model, with its single-largest affiliate, Western Asset Management, accounting for more than 60% of managed assets. Other major affiliates include ClearBridge Investments (more than 15% of AUM), Brandywine (less than 10%), and Clarion Partners (less than 10%). The remaining affiliates--Martin Currie, Royce & Associates, EnTrustPermal, QS Investors, and RARE Infrastructure--each account for 2% or less of Legg Mason's managed assets.