Lazard, Inc. (NYSE:LAZ) Given Average Rating of “Hold” by Analysts

Shares of Lazard, Inc. (NYSE:LAZ) have been given an average recommendation of “Hold” by the eleven analysts that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $50.3750.

A number of research analysts have weighed in on the stock. Citizens Jmp cut their price objective on shares of Lazard from $65.00 to $60.00 and set a “market outperform” rating for the company in a report on Friday, April 10th. Morgan Stanley set a $44.00 target price on Lazard in a research report on Friday. Keefe, Bruyette & Woods cut their price target on Lazard from $44.00 to $42.00 and set a “market perform” rating for the company in a research note on Friday. UBS Group restated a “neutral” rating and issued a $44.00 price target on shares of Lazard in a research note on Tuesday, June 9th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Lazard in a report on Friday.

Lazard Price Performance

Shares of NYSE LAZ opened at $44.21 on Friday. The company has a debt-to-equity ratio of 1.87, a current ratio of 2.84 and a quick ratio of 3.51. The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 0.65 and a beta of 1.43. The firm’s 50 day simple moving average is $44.24 and its 200-day simple moving average is $46.78. Lazard has a 12 month low of $38.67 and a 12 month high of $58.75.

Lazard (NYSE:LAZ) last posted its earnings results on Thursday, July 23rd. The asset manager reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.22). Lazard had a net margin of 6.95% and a return on equity of 23.58%. The firm had revenue of $786.02 million during the quarter, compared to analyst estimates of $736.29 million. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Analysts expect that Lazard will post 2.45 EPS for the current year.

Lazard Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be given a $0.50 dividend. The ex-dividend date is Monday, August 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.5%. Lazard’s payout ratio is 98.04%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. UBS Group AG raised its position in Lazard by 97.6% during the fourth quarter. UBS Group AG now owns 332,333 shares of the asset manager’s stock worth $16,138,000 after acquiring an additional 164,168 shares during the period. Algebris UK Ltd. acquired a new stake in shares of Lazard in the fourth quarter valued at about $24,424,000. Altfest L J & Co. Inc. purchased a new stake in shares of Lazard during the fourth quarter worth about $1,136,000. Fisher Asset Management LLC increased its stake in shares of Lazard by 2.2% during the fourth quarter. Fisher Asset Management LLC now owns 1,760,637 shares of the asset manager’s stock worth $85,497,000 after purchasing an additional 38,133 shares in the last quarter. Finally, Jefferies Financial Group Inc. acquired a new position in shares of Lazard during the 4th quarter worth about $1,983,000. Hedge funds and other institutional investors own 54.80% of the company’s stock.

Trending Headlines about Lazard

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

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.