Legg Mason Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Legg Mason, Inc. (NYSE:LM) will unveil its latest earnings tomorrow, Friday, February 1, 2013.  Legg Mason is a global asset management company that offers investment management and related services to individual and institutional clients.

Legg Mason, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 54 cents per share, a rise of more than twofold from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 52 cents. Between one and three months ago, the average estimate moved up. It has dropped from 55 cents during the last month. Analysts are projecting profit to rise by 1.3% compared to last year’s $1.56.

Past Earnings Performance: The company topped estimates last quarter after missing forecasts the quarter prior. In the second quarter, it reported net income of 75 cents per share against a mean estimate of profit of 56 cents per share. In the first quarter, it missed forecasts by 9 cents.

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A Look Back: In the second quarter, profit rose 42.6% to $80.8 million (60 cents a share) from $56.7 million (39 cents a share) the year earlier, exceeding analyst expectations. Revenue fell 4.4% to $640.3 million from $669.9 million.

Here’s how Legg Mason traded following its last earnings report 3 months ago and leading up to its upcoming earnings report this week: