StockNews.com Lowers Lazard (NYSE:LAZ) to Hold

Lazard (NYSE:LAZGet Rating) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Several other analysts have also weighed in on the company. Keefe, Bruyette & Woods lowered Lazard from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $52.00 to $49.00 in a report on Friday, February 4th. JMP Securities reduced their target price on Lazard from $58.00 to $56.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 7th. Wolfe Research lowered Lazard from a “peer perform” rating to an “underperform” rating and set a $39.00 target price on the stock. in a research note on Thursday, April 7th. UBS Group dropped their price target on Lazard from $47.00 to $43.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 4th. Finally, Morgan Stanley downgraded Lazard from an “overweight” rating to an “equal weight” rating and set a $40.00 price target on the stock. in a research report on Tuesday, March 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Lazard has an average rating of “Hold” and a consensus target price of $46.25.

Shares of Lazard stock opened at $33.47 on Wednesday. The company’s fifty day simple moving average is $34.50 and its 200-day simple moving average is $41.44. The stock has a market capitalization of $3.52 billion, a PE ratio of 7.23 and a beta of 1.52. Lazard has a 1-year low of $31.64 and a 1-year high of $53.00. The company has a debt-to-equity ratio of 2.08, a current ratio of 1.75 and a quick ratio of 1.75.

Lazard (NYSE:LAZGet Rating) last released its earnings results on Thursday, February 3rd. The asset manager reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.47. Lazard had a net margin of 16.13% and a return on equity of 59.74%. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $856.96 million. During the same quarter in the previous year, the company earned $1.66 EPS. Lazard’s revenue for the quarter was up 12.7% on a year-over-year basis. As a group, research analysts anticipate that Lazard will post 4.16 EPS for the current year.

A number of large investors have recently bought and sold shares of LAZ. PFG Private Wealth Management LLC raised its holdings in shares of Lazard by 9,502.5% in the 1st quarter. PFG Private Wealth Management LLC now owns 7,682 shares of the asset manager’s stock valued at $265,000 after buying an additional 7,602 shares during the period. Sweet Financial Partners LLC acquired a new position in shares of Lazard during the 1st quarter worth about $345,000. Strs Ohio boosted its position in shares of Lazard by 52.8% during the 1st quarter. Strs Ohio now owns 110,000 shares of the asset manager’s stock worth $3,795,000 after acquiring an additional 38,000 shares in the last quarter. Lesa Sroufe & Co boosted its position in shares of Lazard by 0.5% during the 1st quarter. Lesa Sroufe & Co now owns 55,773 shares of the asset manager’s stock worth $2,434,000 after acquiring an additional 290 shares in the last quarter. Finally, Endurance Wealth Management Inc. acquired a new stake in shares of Lazard in the 1st quarter valued at about $976,000.

About Lazard (Get Rating)

Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm in North America, Europe, Asia, Australia, and Central and South America. It operates in two segments, Financial Advisory and Asset Management. The Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions, restructurings, capital advisory, shareholder advisory, capital raising, sovereign advisory, and other strategic advisory matters.

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Analyst Recommendations for Lazard (NYSE:LAZ)

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