Lazard, Inc. (NYSE:LAZ) Given Average Rating of “Hold” by Analysts

Lazard, Inc. (NYSE:LAZ) has been given an average rating of “Hold” by the eleven analysts that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $57.1250.

A number of research analysts have recently issued reports on the stock. UBS Group restated a “neutral” rating and issued a $59.00 price target on shares of Lazard in a research report on Friday, January 30th. Zacks Research lowered shares of Lazard from a “hold” rating to a “strong sell” rating in a research note on Monday, January 12th. Citigroup restated a “market outperform” rating on shares of Lazard in a research note on Friday, January 30th. Morgan Stanley dropped their price target on Lazard from $61.00 to $59.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 6th. Finally, Keefe, Bruyette & Woods boosted their price objective on Lazard from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, January 30th.

Institutional Trading of Lazard

Hedge funds have recently bought and sold shares of the company. Teza Capital Management LLC grew its position in Lazard by 2.4% in the 2nd quarter. Teza Capital Management LLC now owns 8,059 shares of the asset manager’s stock worth $387,000 after purchasing an additional 187 shares during the last quarter. Lesa Sroufe & Co boosted its position in shares of Lazard by 0.4% during the third quarter. Lesa Sroufe & Co now owns 52,836 shares of the asset manager’s stock worth $2,789,000 after buying an additional 217 shares during the period. Sound Income Strategies LLC grew its holdings in Lazard by 59.5% in the 4th quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock worth $31,000 after buying an additional 220 shares in the last quarter. IFP Advisors Inc increased its position in Lazard by 53.5% in the 3rd quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 224 shares during the period. Finally, Xponance LLC raised its stake in Lazard by 3.7% during the 4th quarter. Xponance LLC now owns 6,454 shares of the asset manager’s stock valued at $313,000 after acquiring an additional 232 shares in the last quarter. 54.80% of the stock is currently owned by institutional investors.

Lazard Stock Up 2.7%

NYSE:LAZ opened at $51.71 on Thursday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 2.58 and a current ratio of 2.28. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 0.40 and a beta of 1.38. Lazard has a one year low of $31.97 and a one year high of $58.75. The stock has a 50-day simple moving average of $51.94 and a 200 day simple moving average of $52.03.

Lazard (NYSE:LAZ) last issued its earnings results on Thursday, January 29th. The asset manager reported $0.80 EPS for the quarter, topping the consensus estimate of $0.68 by $0.12. Lazard had a return on equity of 33.04% and a net margin of 7.49%.The company had revenue of $892.00 million during the quarter, compared to analyst estimates of $876.32 million. During the same quarter last year, the firm earned $0.78 EPS. The business’s revenue was up 11.0% on a year-over-year basis. Sell-side analysts predict that Lazard will post 4.24 EPS for the current fiscal year.

Lazard Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Monday, February 9th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, February 9th. This represents a $2.00 annualized dividend and a dividend yield of 3.9%. Lazard’s payout ratio is 91.74%.

About Lazard

Lazard Ltd. (NYSE: LAZ) is a leading global financial advisory and asset management firm, offering a comprehensive suite of services to corporations, governments and individuals. Founded in 1848, Lazard has built a reputation for providing independent advice and innovative solutions in complex financial transactions. The firm is publicly traded on the New York Stock Exchange under the ticker symbol LAZ and maintains its headquarters in Hamilton, Bermuda.

In its Financial Advisory segment, Lazard assists clients with mergers and acquisitions, restructurings, capital structure optimization and strategic planning.