Lazard, Inc. (NYSE:LAZ) Receives $50.38 Average PT from Brokerages

Shares of Lazard, Inc. (NYSE:LAZ) have been assigned an average recommendation of “Hold” from the eleven analysts that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $50.3750.

LAZ has been the subject of several recent analyst reports. Argus lowered their price target on Lazard from $63.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Zacks Research upgraded shares of Lazard from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Citigroup reaffirmed a “market outperform” rating on shares of Lazard in a research report on Friday, July 24th. The Goldman Sachs Group reiterated a “sell” rating on shares of Lazard in a research note on Thursday, July 23rd. Finally, Weiss Ratings downgraded shares of Lazard from a “hold (c+)” rating to a “hold (c)” rating in a research report on Wednesday.

Institutional Investors Weigh In On Lazard

A number of large investors have recently made changes to their positions in the stock. Kestra Advisory Services LLC purchased a new position in Lazard in the 4th quarter worth $26,000. Sound Income Strategies LLC grew its stake in Lazard by 59.5% during the 4th quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 220 shares during the last quarter. Quest 10 Wealth Builders Inc. purchased a new stake in Lazard during the 4th quarter valued at about $32,000. IFP Advisors Inc increased 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 valued at $34,000 after purchasing an additional 224 shares during the period. Finally, State of Wyoming acquired a new position in shares of Lazard in the second quarter valued at about $38,000. 54.80% of the stock is owned by hedge funds and other institutional investors.

Lazard Stock Up 1.1%

Lazard stock opened at $42.41 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 $4.69 billion, a price-to-earnings ratio of 20.79, a PEG ratio of 0.89 and a beta of 1.43. Lazard has a 1-year low of $38.67 and a 1-year high of $58.75. The business has a fifty day moving average price of $43.77 and a 200-day moving average price of $46.47.

Lazard (NYSE:LAZ) last announced its earnings results on Friday, July 24th. 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 $786.47 million for the quarter, compared to analysts’ expectations of $736.29 million. During the same quarter last year, the firm earned $0.52 earnings per share. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. Equities research analysts forecast that Lazard will post 2.18 EPS for the current fiscal year.

Lazard Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Monday, August 3rd. Lazard’s payout ratio is presently 98.04%.

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.