Lazard (NYSE:LAZ) Stock Rating Lowered by StockNews.com

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

A number of other equities research analysts have also recently issued reports on the company. Wolfe Research cut Lazard from a “peer perform” rating to an “underperform” rating and set a $39.00 target price for the company. in a research report on Thursday, April 7th. JMP Securities reduced their price objective on Lazard from $58.00 to $56.00 and set a “market outperform” rating for the company in a research report on Thursday, April 7th. Keefe, Bruyette & Woods cut Lazard from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $52.00 to $49.00 in a research report on Friday, February 4th. Morgan Stanley cut Lazard from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective for the company. in a research report on Tuesday, March 8th. Finally, Piper Sandler reduced their price objective on Lazard from $49.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, April 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $45.86.

NYSE:LAZ opened at $31.92 on Friday. The stock’s 50 day moving average price is $34.10 and its 200 day moving average price is $40.05. Lazard has a 52 week low of $30.85 and a 52 week high of $53.00. The company has a market capitalization of $3.35 billion, a P/E ratio of 6.47 and a beta of 1.44. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.75 and a current ratio of 1.75.

Lazard (NYSE:LAZGet Rating) last announced its earnings results on Thursday, April 28th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.18. The firm had revenue of $716.14 million during the quarter, compared to analysts’ expectations of $677.58 million. Lazard had a return on equity of 59.55% and a net margin of 16.76%. The company’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.87 earnings per share. As a group, sell-side analysts forecast that Lazard will post 4.22 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in LAZ. Huntington National Bank acquired a new position in Lazard during the fourth quarter worth $38,000. Bessemer Group Inc. acquired a new stake in shares of Lazard in the fourth quarter valued at $55,000. PNC Financial Services Group Inc. increased its stake in shares of Lazard by 64.3% in the first quarter. PNC Financial Services Group Inc. now owns 1,839 shares of the asset manager’s stock valued at $63,000 after buying an additional 720 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Lazard in the fourth quarter valued at $86,000. Finally, Altshuler Shaham Ltd increased its stake in shares of Lazard by 119.8% in the third quarter. Altshuler Shaham Ltd now owns 2,743 shares of the asset manager’s stock valued at $126,000 after buying an additional 1,495 shares in the last quarter.

Lazard Company Profile (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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