Lazard, Inc. (NYSE:LAZ) Receives $52.00 Average PT from Analysts

Shares of Lazard, Inc. (NYSE:LAZ) have been given an average rating of “Hold” by the twelve analysts that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $52.00.

A number of equities analysts recently weighed in on LAZ shares. Zacks Research raised shares of Lazard from a “strong sell” rating to a “hold” rating in a research note on Monday. Wall Street Zen lowered Lazard from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Weiss Ratings downgraded Lazard from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 22nd. Argus dropped their price target 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, The Goldman Sachs Group set a $40.00 price objective on shares of Lazard in a research report on Friday, June 12th.

Lazard Price Performance

Shares of NYSE:LAZ opened at $41.76 on Wednesday. Lazard has a one year low of $38.67 and a one year high of $58.75. The company has a debt-to-equity ratio of 1.94, a current ratio of 3.51 and a quick ratio of 3.51. The company has a market cap of $4.66 billion, a price-to-earnings ratio of 16.51, a PEG ratio of 0.46 and a beta of 1.43. The firm has a 50 day simple moving average of $45.28 and a 200 day simple moving average of $47.37.

Lazard (NYSE:LAZ) last posted its earnings results on Friday, May 1st. The asset manager reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.10). Lazard had a return on equity of 29.30% and a net margin of 8.47%.The business had revenue of $672.98 million for the quarter, compared to the consensus estimate of $707.42 million. During the same period in the previous year, the firm earned $0.56 earnings per share. The company’s revenue was up 16.8% compared to the same quarter last year. Research analysts predict that Lazard will post 2.85 earnings per share for the current fiscal year.

Lazard Dividend Announcement

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

Institutional Trading of Lazard

Several large investors have recently made changes to their positions in LAZ. Kestra Advisory Services LLC bought a new position in Lazard in the fourth quarter worth approximately $26,000. Sound Income Strategies LLC raised its position in shares of Lazard by 59.5% during the fourth 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 position in shares of Lazard in the 4th quarter worth $32,000. IFP Advisors Inc grew its position in Lazard by 53.5% in the 3rd quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 224 shares during the period. Finally, State of Wyoming bought a new stake in Lazard during the 2nd quarter valued at $38,000. 54.80% of the stock is currently owned by institutional investors and hedge funds.

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.