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LM - Legg Mason's Stock Is Cheap. But Probably For Good Reason
Legg Mason Inc.
There is no doubt about it; Legg Mason's (LM) stock is cheap. The company trades at a forward P/E of 10 or 13 (depending on your datasource). However, as an asset management company, its business is currently facing significant disruption. EPS is projected to be essentially flat over the next five years, but investors may be right to wonder if even this projection will end up being optimistic.
Legg Mason and the Asset Management Business
We think that the most important factor that will determine whether or not LM is a good investment