Lazard (NYSE:LAZ) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Lazard (NYSE:LAZ) from a hold rating to a buy rating in a report issued on Saturday morning.

A number of other equities analysts have also weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Lazard in a research report on Monday, December 29th. Citigroup reiterated a “market outperform” rating on shares of Lazard in a research report on Friday, January 30th. Bank of America started coverage on Lazard in a research report on Monday, January 26th. They set a “buy” rating and a $65.00 target price on the stock. Keefe, Bruyette & Woods upped their target price on Lazard from $59.00 to $62.00 and gave the company an “outperform” rating in a research note on Friday, January 30th. Finally, UBS Group reiterated a “neutral” rating and set a $59.00 price objective on shares of Lazard in a report on Friday, January 30th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Lazard presently has a consensus rating of “Hold” and a consensus price target of $57.13.

Lazard Price Performance

Shares of LAZ opened at $50.85 on Friday. The firm has a market cap of $5.68 billion, a PE ratio of 23.33, a P/E/G ratio of 0.40 and a beta of 1.40. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 1.85. Lazard has a 1-year low of $31.97 and a 1-year high of $58.75. The firm has a fifty day simple moving average of $52.02 and a two-hundred day simple moving average of $51.96.

Lazard (NYSE:LAZ) last announced its earnings results on Thursday, January 29th. The asset manager reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.12. The business had revenue of $892.00 million for the quarter, compared to analysts’ expectations of $876.32 million. Lazard had a return on equity of 33.04% and a net margin of 7.49%.The business’s revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the firm posted $0.78 earnings per share. On average, equities analysts anticipate that Lazard will post 4.24 EPS for the current year.

Lazard Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Monday, February 9th were paid 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 business. Amica Retiree Medical Trust boosted its position in Lazard by 44.4% in the 2nd quarter. Amica Retiree Medical Trust now owns 10,922 shares of the asset manager’s stock worth $524,000 after purchasing an additional 3,356 shares in the last quarter. Amica Mutual Insurance Co. lifted its stake in shares of Lazard by 48.2% in the 2nd quarter. Amica Mutual Insurance Co. now owns 120,707 shares of the asset manager’s stock valued at $5,791,000 after purchasing an additional 39,263 shares during the period. Van Berkom & Associates Inc. acquired a new position in shares of Lazard in the 3rd quarter valued at $2,920,000. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Lazard during the third quarter worth $1,210,000. Finally, Alps Advisors Inc. purchased a new position in shares of Lazard in the 3rd quarter valued at about $4,744,000. Hedge funds and other institutional investors own 54.80% of the company’s stock.

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.