Lazard Ltd. (LAZ) Given Average Rating of “Buy” by Brokerages
Shares of Lazard Ltd. (NYSE:LAZ) have received a consensus rating of “Buy” from the eleven ratings firms that are currently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $46.43.
A number of brokerages recently commented on LAZ. ValuEngine upgraded Lazard from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 28th. BidaskClub upgraded Lazard from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Finally, Zacks Investment Research lowered Lazard from a “buy” rating to a “hold” rating in a research report on Friday, July 28th.
Institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its position in Lazard by 2.2% in the 2nd quarter. Rhumbline Advisers now owns 140,191 shares of the asset manager’s stock worth $6,495,000 after purchasing an additional 2,977 shares in the last quarter. Hosking Partners LLP boosted its position in Lazard by 1.6% in the 2nd quarter. Hosking Partners LLP now owns 1,009,287 shares of the asset manager’s stock worth $46,760,000 after purchasing an additional 16,205 shares in the last quarter. LSV Asset Management boosted its position in Lazard by 560.2% in the 2nd quarter. LSV Asset Management now owns 3,428,390 shares of the asset manager’s stock worth $158,837,000 after purchasing an additional 2,909,090 shares in the last quarter. Neuberger Berman Group LLC purchased a new stake in Lazard in the 1st quarter worth approximately $335,000. Finally, UBS Group AG boosted its position in Lazard by 84.2% in the 1st quarter. UBS Group AG now owns 322,512 shares of the asset manager’s stock worth $14,832,000 after purchasing an additional 147,436 shares in the last quarter. Institutional investors and hedge funds own 72.20% of the company’s stock.
Shares of Lazard (LAZ) traded down 1.15% during trading on Friday, hitting $45.43. 375,527 shares of the stock traded hands. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 12.87 and a beta of 1.85. The stock has a 50 day moving average of $43.00 and a 200 day moving average of $44.66. Lazard has a 52-week low of $33.48 and a 52-week high of $48.86.
Lazard (NYSE:LAZ) last issued its earnings results on Thursday, July 27th. The asset manager reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.18. The firm had revenue of $720.16 million for the quarter, compared to analyst estimates of $627.12 million. Lazard had a return on equity of 39.33% and a net margin of 17.39%. Lazard’s revenue for the quarter was up 32.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.61 earnings per share. Analysts expect that Lazard will post $3.53 EPS for the current year.
Lazard Company Profile
Lazard Ltd (Lazard) is a financial advisory and asset management company. The Company operates through two segments: Financial Advisory and Asset Management. It serves a range of clients around the world, including corporations, governments, institutions, partnerships and individuals. The Financial Advisory business segment offers corporate, partnership, institutional, government, sovereign and individual clients across the globe a range of financial advisory services regarding mergers and acquisitions (M&A) and other strategic matters, restructurings, capital structure, capital raising and various other financial matters to corporate, partnership, institutional, government, sovereign and individual clients.
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