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Stock Alert: Legg Mason (LM) Shares Hit New 52-Week High

Shares of Legg Mason Inc. (LM) touched a new 52-week high of $40.61 today, riding its upbeat Q3 report. The stock is currently trading at $39.65, down 28 cents or 0.70%.

The company's Q3 net income was $74.8 million or $0.83 per share compared to a loss of $216.9 million or $2.55 per share last year. Adjusted earnings amounted to $93.2 million or $1.03 per share.

Analysts polled by Thomson Reuters expected earnings of $0.94 per share for the quarter. Analysts' estimate typically exclude certain special items.

Revenue for the quarter rose to $753.9 million from $704.3 million generated a year ago.

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