Lazard Ltd (LAZ) Given Average Rating of “Buy” by Analysts

Lazard Ltd (NYSE:LAZ) has been assigned a consensus recommendation of “Buy” from the thirteen analysts that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $60.56.

A number of equities analysts have commented on the stock. Nomura raised shares of Lazard from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $46.00 to $62.00 in a report on Wednesday, January 3rd. Zacks Investment Research upgraded Lazard from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a research note on Monday. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $67.00 target price on shares of Lazard in a research note on Thursday, February 1st. Goldman Sachs Group upgraded Lazard from a “neutral” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Monday, January 8th. Finally, Instinet upgraded Lazard from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 3rd.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its stake in shares of Lazard by 9.0% during the second quarter. PNC Financial Services Group Inc. now owns 3,701 shares of the asset manager’s stock valued at $172,000 after purchasing an additional 306 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of Lazard by 2.7% during the second quarter. UBS Asset Management Americas Inc. now owns 19,025 shares of the asset manager’s stock valued at $881,000 after purchasing an additional 500 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Lazard by 18.4% during the second quarter. The Manufacturers Life Insurance Company now owns 4,843 shares of the asset manager’s stock valued at $225,000 after purchasing an additional 753 shares in the last quarter. Advisory Services Network LLC raised its stake in shares of Lazard by 83.2% during the fourth quarter. Advisory Services Network LLC now owns 2,151 shares of the asset manager’s stock valued at $113,000 after purchasing an additional 977 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Lazard by 4.3% during the third quarter. Janney Montgomery Scott LLC now owns 25,979 shares of the asset manager’s stock valued at $1,175,000 after purchasing an additional 1,076 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Lazard (NYSE LAZ) traded up $0.61 during trading on Friday, reaching $53.13. 307,287 shares of the company’s stock were exchanged, compared to its average volume of 908,906. The firm has a market capitalization of $7,414.83, a P/E ratio of 28.82, a PEG ratio of 1.35 and a beta of 1.84. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.87. Lazard has a 1 year low of $40.50 and a 1 year high of $60.00.

Lazard (NYSE:LAZ) last released its quarterly earnings data on Thursday, February 1st. The asset manager reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.20. The firm had revenue of $683.00 million during the quarter, compared to the consensus estimate of $658.86 million. Lazard had a net margin of 9.40% and a return on equity of 38.66%. The firm’s revenue was down .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.13 earnings per share. research analysts predict that Lazard will post 3.99 EPS for the current year.

Lazard announced that its Board of Directors has authorized a share repurchase plan on Wednesday, October 25th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the asset manager to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Monday, February 12th will be paid a $0.116 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Friday, February 9th. Lazard’s payout ratio is 89.13%.

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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.

Analyst Recommendations for Lazard (NYSE:LAZ)

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