Lazard, Inc. (NYSE:LAZ) Receives $50.38 Consensus Target Price from Brokerages

Lazard, Inc. (NYSE:LAZ) has been assigned a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $50.3750.

A number of equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods reduced their price target on Lazard from $44.00 to $42.00 and set a “market perform” rating on the stock in a research report on Friday, July 24th. Citigroup restated a “market outperform” rating on shares of Lazard in a research note on Friday, July 24th. Zacks Research lowered Lazard from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 4th. The Goldman Sachs Group reiterated a “sell” rating on shares of Lazard in a research note on Thursday, July 23rd. Finally, Morgan Stanley set a $44.00 price target on Lazard in a report on Friday, July 24th.

Lazard Stock Up 3.2%

Shares of Lazard stock opened at $44.14 on Thursday. The company has a quick ratio of 2.84, a current ratio of 2.84 and a debt-to-equity ratio of 1.87. The company has a market cap of $4.88 billion, a P/E ratio of 21.64, a PEG ratio of 0.93 and a beta of 1.43. The firm’s 50 day moving average price is $42.91 and its 200-day moving average price is $45.54. Lazard has a 52-week low of $38.67 and a 52-week high of $58.75.

Lazard (NYSE:LAZ) last posted its earnings results on Friday, July 24th. The asset manager reported $0.12 EPS for the quarter, missing analysts’ consensus estimates 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 $786.47 million for the quarter, compared to analysts’ expectations of $736.29 million. During the same period in the previous year, the company earned $0.52 EPS. The company’s revenue was up 1.5% on a year-over-year basis. On average, sell-side analysts predict that Lazard will post 2.18 EPS for the current fiscal year.

Lazard Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Monday, August 3rd were issued a dividend of $0.50 per share. The ex-dividend date was Monday, August 3rd. This represents a $2.00 annualized dividend and a dividend yield of 4.5%. Lazard’s dividend payout ratio is 98.04%.

Institutional Trading of Lazard

Institutional investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC purchased a new stake in Lazard during the 4th quarter worth approximately $26,000. IFP Advisors Inc raised its holdings in shares of 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 buying an additional 224 shares during the last quarter. Quest 10 Wealth Builders Inc. purchased a new position in shares of Lazard in the fourth quarter worth $32,000. State of Wyoming acquired a new stake in shares of Lazard during the second quarter worth $38,000. Finally, Triumph Capital Management acquired a new stake in shares of Lazard during the third quarter worth $42,000. 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.