Positive Press Coverage Somewhat Unlikely to Affect Lazard (LAZ) Stock Price
Headlines about Lazard (NYSE:LAZ) have trended positive on Thursday, according to Accern. The research firm identifies negative and positive media coverage by analyzing more than twenty million news and blog sources in real time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Lazard earned a media sentiment score of 0.33 on Accern’s scale. Accern also gave news coverage about the asset manager an impact score of 48.2546058539178 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near future.
These are some of the media stories that may have impacted Accern’s analysis:
- Opinion: Who’d be foolish enough to buy Argentina’s 100-year bonds? The biggest fund companies out there (marketwatch.com)
- Is Lazard Global List Infrastructure Open (GLFOX) a Strong Mutual Fund Pick Right Now? (zacks.com)
- Bridgehouse Asset Managers Announces Fee Reductions and Certain Other Changes to Its Mutual Fund Lineup (globenewswire.com)
- Focusing the Lens on Lazard Ltd (LAZ) Shares: Technical Update (parkcitycaller.com)
- Head-To-Head Survey: Lazard (LAZ) versus Silvercrest Asset Management Group (SAMG) (americanbankingnews.com)
LAZ has been the topic of several analyst reports. Bank of America raised Lazard from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Tuesday, April 17th. Zacks Investment Research cut Lazard from a “buy” rating to a “hold” rating in a research report on Tuesday, April 3rd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $67.00 target price on shares of Lazard in a research report on Thursday, February 1st. Nomura lifted their target price on Lazard from $62.00 to $67.00 and gave the company a “buy” rating in a research report on Friday, February 2nd. Finally, ValuEngine cut Lazard from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 7th. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $60.13.
Lazard (NYSE:LAZ) last posted its quarterly earnings data on Thursday, April 26th. The asset manager reported $1.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.22. Lazard had a return on equity of 44.63% and a net margin of 10.81%. The business had revenue of $724.00 million for the quarter, compared to analysts’ expectations of $652.99 million. During the same quarter in the previous year, the firm earned $0.83 earnings per share. The business’s revenue was up 16.0% on a year-over-year basis. research analysts predict that Lazard will post 4.35 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 18th. Shareholders of record on Monday, May 7th will be given a $0.44 dividend. The ex-dividend date of this dividend is Friday, May 4th. This represents a $1.76 annualized dividend and a yield of 3.16%. This is a boost from Lazard’s previous quarterly dividend of $0.12. Lazard’s payout ratio is currently 46.56%.
In other Lazard news, CAO Scott D. Hoffman sold 15,000 shares of the business’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $52.13, for a total value of $781,950.00. Following the transaction, the chief accounting officer now owns 147,341 shares of the company’s stock, valued at $7,680,886.33. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Alexander F. Stern sold 65,160 shares of the business’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $53.12, for a total value of $3,461,299.20. Following the completion of the transaction, the chief operating officer now directly owns 276,886 shares in the company, valued at approximately $14,708,184.32. The disclosure for this sale can be found here. In the last three months, insiders sold 95,320 shares of company stock worth $5,053,854. Insiders own 2.76% of the company’s stock.
Lazard Company Profile
Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm worldwide. Its Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions and other strategic matters, restructurings, capital structure, capital raising, shareholder advisory, and various other financial matters.
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