Lazard (LAZ) – Investment Analysts’ Weekly Ratings Updates

Lazard (NYSE: LAZ) has recently received a number of price target changes and ratings updates:

  • 2/5/2024 – Lazard was upgraded by analysts at TheStreet from a “d+” rating to a “c+” rating.
  • 2/5/2024 – Lazard had its price target raised by analysts at UBS Group AG from $40.00 to $43.00. They now have a “neutral” rating on the stock.
  • 2/2/2024 – Lazard was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
  • 1/29/2024 – Lazard had its “outperform” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $51.00 price target on the stock.
  • 1/9/2024 – Lazard had its price target raised by analysts at UBS Group AG from $31.00 to $40.00. They now have a “neutral” rating on the stock.
  • 1/3/2024 – Lazard was upgraded by analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating. They now have a $42.00 price target on the stock.
  • 1/2/2024 – Lazard was downgraded by analysts at TheStreet from a “c” rating to a “d+” rating.
  • 12/19/2023 – Lazard had its price target raised by analysts at The Goldman Sachs Group, Inc. from $28.00 to $31.00. They now have a “sell” rating on the stock.

Lazard Stock Performance

NYSE LAZ opened at $38.56 on Tuesday. The company has a 50-day simple moving average of $36.54 and a two-hundred day simple moving average of $32.99. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 4.03. Lazard, Inc. has a 12-month low of $25.82 and a 12-month high of $42.15. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of -39.75 and a beta of 1.46.

Lazard (NYSE:LAZGet Free Report) last issued its quarterly earnings data on Thursday, February 1st. The asset manager reported $0.66 EPS for the quarter, beating the consensus estimate of $0.35 by $0.31. Lazard had a negative net margin of 2.93% and a positive return on equity of 16.75%. The firm had revenue of $825.70 million during the quarter, compared to the consensus estimate of $666.56 million. During the same period in the prior year, the firm posted $0.69 earnings per share. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, equities analysts forecast that Lazard, Inc. will post 3.24 EPS for the current year.

Lazard Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Monday, February 12th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.19%. The ex-dividend date of this dividend is Friday, February 9th. Lazard’s dividend payout ratio is -206.18%.

Institutional Investors Weigh In On Lazard

A number of institutional investors have recently made changes to their positions in the company. Argent Trust Co boosted its holdings in Lazard by 55.1% in the third quarter. Argent Trust Co now owns 47,659 shares of the asset manager’s stock worth $1,478,000 after purchasing an additional 16,930 shares during the last quarter. Mackenzie Financial Corp raised its position in Lazard by 1.4% in the second quarter. Mackenzie Financial Corp now owns 214,208 shares of the asset manager’s stock worth $7,011,000 after acquiring an additional 2,908 shares during the period. Barclays PLC raised its position in Lazard by 42.8% in the third quarter. Barclays PLC now owns 343,841 shares of the asset manager’s stock worth $10,662,000 after acquiring an additional 103,118 shares during the period. Comerica Bank bought a new position in Lazard in the second quarter worth approximately $68,660,000. Finally, Bank of New York Mellon Corp raised its position in Lazard by 12.6% in the second quarter. Bank of New York Mellon Corp now owns 282,058 shares of the asset manager’s stock worth $9,026,000 after acquiring an additional 31,500 shares during the period. Hedge funds and other institutional investors own 57.64% of the company’s stock.

Lazard, Inc, together with its subsidiaries, operates as a financial advisory and asset management firm in North and South America, Europe, the Middle East, Asia, and Australia. 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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