Lazard (NYSE:LAZ) Price Target Cut to $42.00 by Analysts at Keefe, Bruyette & Woods

Lazard (NYSE:LAZ) had its target price lowered by Keefe, Bruyette & Woods from $44.00 to $42.00 in a research report report published on Friday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the asset manager’s stock.

Several other equities research analysts also recently weighed in on the stock. The Goldman Sachs Group reissued a “sell” rating on shares of Lazard in a research report on Thursday. Citigroup reiterated a “market outperform” rating on shares of Lazard in a research note on Friday. Morgan Stanley set a $44.00 target price on Lazard in a report on Friday. Argus dropped their price objective on Lazard from $63.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Finally, Zacks Research raised Lazard from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.38.

Lazard Stock Performance

Lazard stock opened at $44.21 on Friday. Lazard has a twelve month low of $38.67 and a twelve month high of $58.75. The company has a quick ratio of 3.51, a current ratio of 2.84 and a debt-to-equity ratio of 1.87. The firm has a fifty day simple moving average of $44.24 and a two-hundred day simple moving average of $46.78. The company has a market capitalization of $4.94 billion, a PE ratio of 21.67, a P/E/G ratio of 0.64 and a beta of 1.43.

Lazard (NYSE:LAZ) last released its quarterly earnings data on Thursday, July 23rd. The asset manager reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.22). Lazard had a return on equity of 23.58% and a net margin of 6.95%.The business had revenue of $786.02 million during the quarter, compared to analysts’ expectations of $736.29 million. During the same quarter last year, the business posted $0.52 EPS. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. Research analysts expect that Lazard will post 2.63 EPS for the current year.

Lazard Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.5%. Lazard’s dividend payout ratio (DPR) is presently 79.05%.

Institutional Investors Weigh In On Lazard

Institutional investors have recently modified their holdings of the stock. Kestra Advisory Services LLC bought a new position in shares of Lazard during the 4th quarter valued at approximately $26,000. Sound Income Strategies LLC raised its position in Lazard by 59.5% in the 4th quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock worth $31,000 after purchasing an additional 220 shares during the period. Quest 10 Wealth Builders Inc. bought a new stake in Lazard in the fourth quarter worth about $32,000. IFP Advisors Inc lifted its stake in Lazard by 53.5% in the third quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock worth $34,000 after purchasing an additional 224 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of Lazard in the second quarter worth approximately $38,000. 54.80% of the stock is owned by institutional investors.

Lazard News Summary

Here are the key news stories impacting Lazard this week:

• Positive Sentiment: Lazard expanded its buyback plan while continuing to grow Asset Management revenue and assets under management, which supports the long-term capital return and earnings story. LAZ Stock Down as Q2 Earnings Lag on Higher Costs, Expands Buyback Plan
• Positive Sentiment: The company reiterated a long-term revenue target for Lazard Capital and outlined productivity goals, including higher revenue per managing director, suggesting management is focused on improving margins. Lazard targets $10m per MD by 2028 as it reiterates $500m Lazard CL 2027 revenue plan
• Neutral Sentiment: CEO Peter Orszag said AI should make future deal teams “leaner,” reinforcing the firm’s cost-efficiency push, but the impact on near-term results is still uncertain. Lazard CEO Orszag: AI will lead to ‘leaner’ deal teams with more MDs
• Neutral Sentiment: Lazard declared a quarterly dividend, which may appeal to income investors, but it is not a major fresh catalyst for the stock. Lazard earnings report and conference call
• Negative Sentiment: Q2 earnings missed expectations, with EPS of $0.12 versus estimates around $0.34-$0.42, reflecting pressure from weaker Financial Advisory revenue and higher expenses. Lazard (LAZ) Q2 Earnings Miss Estimates
• Negative Sentiment: Profit fell sharply year over year, with reports pointing to a 91% decline in quarterly profit due to a higher tax rate and volatility in the advisory business, which likely weighed on sentiment. Lazard profit plunges on elevated tax rate, financial advisory volatility
• Negative Sentiment: Keefe, Bruyette & Woods cut its price target on LAZ to $42 and kept a market-perform rating, signaling limited near-term upside. Benzinga report on Lazard price target cut

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.