Lazard (LAZ) Upgraded at Instinet
Several other equities analysts also recently commented on LAZ. Zacks Investment Research downgraded shares of Lazard from a buy rating to a hold rating in a research note on Wednesday. ValuEngine downgraded shares of Lazard from a strong-buy rating to a buy rating in a research note on Tuesday, October 3rd. Buckingham Research downgraded shares of Lazard from a buy rating to a neutral rating and set a $54.00 price target on the stock. in a research note on Thursday, December 21st. Finally, Nomura upped their price target on shares of Lazard from $43.00 to $46.00 and gave the company a neutral rating in a research note on Friday, November 3rd. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $50.33.
Lazard (NYSE LAZ) opened at $55.87 on Wednesday. Lazard has a fifty-two week low of $40.22 and a fifty-two week high of $55.92. The company has a market cap of $7,250.00, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 1.85 and a beta of 1.89. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.09 and a quick ratio of 2.09.
Lazard (NYSE:LAZ) last released its quarterly earnings results on Thursday, October 26th. The asset manager reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.10. Lazard had a net margin of 17.16% and a return on equity of 38.81%. The business had revenue of $624.00 million for the quarter, compared to the consensus estimate of $593.19 million. During the same period in the prior year, the company posted $0.85 earnings per share. Lazard’s revenue was up 2.5% compared to the same quarter last year. equities research analysts predict that Lazard will post 3.58 EPS for the current year.
Lazard declared that its board has approved a stock buyback plan on Wednesday, October 25th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the asset manager to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
Hedge funds have recently added to or reduced their stakes in the stock. LSV Asset Management grew its stake in Lazard by 560.2% during the second quarter. LSV Asset Management now owns 3,428,390 shares of the asset manager’s stock worth $158,837,000 after buying an additional 2,909,090 shares in the last quarter. Koch Industries Inc. acquired a new stake in Lazard during the second quarter worth about $510,000. Schwab Charles Investment Management Inc. grew its stake in Lazard by 9.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 704,174 shares of the asset manager’s stock worth $32,625,000 after buying an additional 62,595 shares in the last quarter. Principal Financial Group Inc. grew its stake in Lazard by 244.0% during the second quarter. Principal Financial Group Inc. now owns 566,121 shares of the asset manager’s stock worth $26,229,000 after buying an additional 401,534 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Lazard by 7.4% during the second quarter. Vanguard Group Inc. now owns 10,967,499 shares of the asset manager’s stock worth $508,124,000 after buying an additional 750,941 shares in the last quarter. Institutional investors and hedge funds own 73.47% of the company’s stock.
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Lazard Company Profile
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.
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