Lazard, Inc. (NYSE:LAZ) Receives Consensus Rating of “Hold” from Brokerages

Shares of Lazard, Inc. (NYSE:LAZ) have received an average rating of “Hold” from the eleven brokerages that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $57.1250.

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods upped their target price on Lazard from $59.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, January 30th. Weiss Ratings restated a “hold (c)” rating on shares of Lazard in a report on Monday, December 29th. Morgan Stanley lowered their target price on Lazard from $61.00 to $59.00 and set an “underweight” rating on the stock in a report on Tuesday, January 6th. Bank of America started coverage on shares of Lazard in a report on Monday, January 26th. They issued a “buy” rating and a $65.00 price target for the company. Finally, UBS Group restated a “neutral” rating and set a $59.00 price objective on shares of Lazard in a research report on Friday, January 30th.

Lazard Stock Performance

LAZ stock opened at $51.71 on Thursday. The company has a 50-day simple moving average of $51.94 and a 200 day simple moving average of $52.03. The company has a market capitalization of $5.78 billion, a P/E ratio of 23.72, a PEG ratio of 0.40 and a beta of 1.38. The company has a quick ratio of 2.58, a current ratio of 2.28 and a debt-to-equity ratio of 1.85. Lazard has a fifty-two week low of $31.97 and a fifty-two week high of $58.75.

Lazard (NYSE:LAZ) last released its quarterly earnings results on Thursday, January 29th. The asset manager reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.12. The company had revenue of $892.00 million for the quarter, compared to the consensus estimate of $876.32 million. Lazard had a net margin of 7.49% and a return on equity of 33.04%. Lazard’s revenue was up 11.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 EPS. Sell-side analysts predict that Lazard will post 4.24 earnings per share for the current fiscal year.

Lazard Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Monday, February 9th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.9%. The ex-dividend date was Monday, February 9th. Lazard’s payout ratio is presently 91.74%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Kestra Advisory Services LLC acquired a new stake in shares of Lazard during the fourth quarter valued at approximately $26,000. Sound Income Strategies LLC raised its stake in Lazard by 59.5% during the 4th quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 220 shares during the period. Quest 10 Wealth Builders Inc. purchased a new stake in shares of Lazard in the fourth quarter valued at $32,000. IFP Advisors Inc lifted its holdings in shares of Lazard by 53.5% in the third quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 224 shares in the last quarter. Finally, Costello Asset Management INC acquired a new stake in shares of Lazard in the third quarter worth $37,000. 54.80% of the stock is owned by hedge funds and other institutional investors.

About Lazard

Lazard Ltd. (NYSE: LAZ) is a leading global financial advisory and asset management firm, offering a comprehensive suite of services to corporations, governments and individuals. Founded in 1848, Lazard has built a reputation for providing independent advice and innovative solutions in complex financial transactions. The firm is publicly traded on the New York Stock Exchange under the ticker symbol LAZ and maintains its headquarters in Hamilton, Bermuda.

In its Financial Advisory segment, Lazard assists clients with mergers and acquisitions, restructurings, capital structure optimization and strategic planning.