Lazard (NYSE:LAZ) was downgraded by research analysts at Buckingham Research from a “buy” rating to a “neutral” rating in a research note issued on Thursday.

A number of other equities analysts have also recently weighed in on the company. Zacks Investment Research raised Lazard from a “hold” rating to a “strong-buy” rating and set a $53.00 price target for the company in a report on Monday, October 23rd. Nomura upped their price target on Lazard from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. Finally, ValuEngine raised Lazard from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $48.56.

Lazard (NYSE LAZ) opened at $50.17 on Thursday. The firm has a market capitalization of $6,621.96, a PE ratio of 13.46, a P/E/G ratio of 1.74 and a beta of 1.89. Lazard has a fifty-two week low of $40.22 and a fifty-two week high of $52.30. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.87.

Lazard (NYSE:LAZ) last released its quarterly earnings results on Thursday, October 26th. The asset manager reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.10. The company had revenue of $624.00 million during the quarter, compared to analysts’ expectations of $593.19 million. Lazard had a return on equity of 38.81% and a net margin of 17.16%. Lazard’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 EPS. analysts forecast that Lazard will post 3.58 earnings per share for the current fiscal year.

Lazard announced that its board has approved a stock buyback program on Wednesday, October 25th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the asset manager to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. increased its stake in Lazard by 9.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,701 shares of the asset manager’s stock worth $172,000 after buying an additional 306 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Lazard during the 2nd quarter worth approximately $179,000. The Manufacturers Life Insurance Company increased its stake in Lazard by 18.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,843 shares of the asset manager’s stock worth $225,000 after buying an additional 753 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in Lazard during the 3rd quarter worth approximately $221,000. Finally, BNP Paribas Arbitrage SA increased its stake in Lazard by 57.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,327 shares of the asset manager’s stock worth $247,000 after buying an additional 1,947 shares in the last quarter. Institutional investors own 73.47% of the company’s stock.

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About Lazard

Lazard Ltd (Lazard) is a financial advisory and asset management company. The Company operates through two segments: Financial Advisory and Asset Management. It serves a range of clients around the world, including corporations, governments, institutions, partnerships and individuals. The Financial Advisory business segment offers corporate, partnership, institutional, government, sovereign and individual clients across the globe a range of financial advisory services regarding mergers and acquisitions (M&A) and other strategic matters, restructurings, capital structure, capital raising and various other financial matters to corporate, partnership, institutional, government, sovereign and individual clients.

Analyst Recommendations for Lazard (NYSE:LAZ)

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