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

Shares of Lazard, Inc. (NYSE:LAZ) have been given an average rating of “Hold” by the twelve ratings firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $52.00.

A number of equities research analysts have commented on the company. Wall Street Zen cut Lazard from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Keefe, Bruyette & Woods boosted their price target on Lazard from $47.00 to $49.00 and gave the stock a “market perform” rating in a report on Monday, May 4th. UBS Group restated a “neutral” rating and issued a $44.00 price objective on shares of Lazard in a research report on Tuesday, June 9th. Argus decreased their price objective on Lazard from $63.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Finally, Citizens Jmp dropped their price objective on Lazard from $65.00 to $60.00 and set a “market outperform” rating for the company in a research report on Friday, April 10th.

Hedge Funds Weigh In On Lazard

Several institutional investors have recently added to or reduced their stakes in LAZ. Teza Capital Management LLC boosted its position in shares of Lazard by 2.4% in the second quarter. Teza Capital Management LLC now owns 8,059 shares of the asset manager’s stock worth $387,000 after acquiring an additional 187 shares during the last quarter. Sound Income Strategies LLC increased its holdings in shares of Lazard by 59.5% during the 4th quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock worth $31,000 after buying an additional 220 shares during the last quarter. IFP Advisors Inc raised its position in shares of Lazard by 53.5% in the 3rd quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock worth $34,000 after buying an additional 224 shares during the period. Xponance LLC raised its position in shares of Lazard by 3.7% in the 4th quarter. Xponance LLC now owns 6,454 shares of the asset manager’s stock worth $313,000 after buying an additional 232 shares during the period. Finally, Oliver Luxxe Assets LLC boosted its holdings in Lazard by 0.5% in the fourth quarter. Oliver Luxxe Assets LLC now owns 47,628 shares of the asset manager’s stock valued at $2,313,000 after acquiring an additional 235 shares during the last quarter. 54.80% of the stock is currently owned by institutional investors and hedge funds.

Lazard Trading Up 4.0%

NYSE:LAZ opened at $42.00 on Wednesday. Lazard has a 52-week low of $38.67 and a 52-week high of $58.75. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.94. The stock has a fifty day simple moving average of $45.86 and a 200-day simple moving average of $47.68. The company has a market capitalization of $4.69 billion, a PE ratio of 16.60, a price-to-earnings-growth ratio of 0.43 and a beta of 1.41.

Lazard (NYSE:LAZ) last issued its quarterly earnings data on Friday, May 1st. The asset manager reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.10). Lazard had a net margin of 8.47% and a return on equity of 29.30%. The business had revenue of $672.98 million during the quarter, compared to analyst estimates of $707.42 million. During the same period in the previous year, the company posted $0.56 earnings per share. Lazard’s revenue was up 16.8% on a year-over-year basis. On average, equities research analysts expect that Lazard will post 2.85 earnings per share for the current fiscal year.

Lazard Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Monday, May 11th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.8%. Lazard’s payout ratio is currently 79.05%.

Lazard Company Profile

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.