Legg Mason (NYSE:LM) is expected to report Q2 earnings before the market open on Thursday, October 22 with a conference call scheduled for 8:30 am ET.
Analysts are looking for EPS of 20c on revenue of $651.85M. The consensus range is 8c-28c for EPS, and $618.60M-$670.06M for revenue, according to First Call. Legg Mason's stock funds are attracting new clients again, Bloomberg recently reported. This month the company reported that it had won deals to manage a portion of a stock portfolio for SEI Investments, and a $300M large-cap stock portfolio for Principal Financial Group. Meanwhile, last month Legg Mason CEO Mark Fetting said that assets under management by the company had risen to about $693B on August 31, representing a 55% increase over the amount under management on June 30. In addition, most of Legg Mason's funds were outperforming their benchmarks as of August. However, the firm was still suffering outflows as of last August.
A Jefferies analyst recently reiterated its Buy rating on Legg Mason. The firm thinks that the stock provides investors with a play on rebounding credit markets. It raised its target on the stock to $35 from $32.