Keefe, Bruyette & Woods Issues Pessimistic Forecast for Lazard (NYSE:LAZ) Stock Price

Lazard (NYSE:LAZ) had its price objective cut by investment analysts at Keefe, Bruyette & Woods from $44.00 to $42.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “market perform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ price objective indicates a potential downside of 5.00% from the company’s current price.

A number of other equities analysts have also commented on the stock. Citigroup reaffirmed a “market outperform” rating on shares of Lazard in a research report on Friday. The Goldman Sachs Group reiterated a “sell” rating on shares of Lazard in a report on Thursday. UBS Group reiterated a “neutral” rating and issued a $44.00 price target on shares of Lazard in a report on Tuesday, June 9th. Argus dropped their price objective on Lazard from $63.00 to $52.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Finally, Morgan Stanley set a $44.00 price objective on Lazard in a report on Friday. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $50.38.

Lazard Trading Up 2.7%

NYSE LAZ opened at $44.21 on Friday. The stock has a market cap of $4.94 billion, a PE ratio of 21.67, a PEG ratio of 0.65 and a beta of 1.43. Lazard has a 12 month low of $38.67 and a 12 month high of $58.75. The company’s 50-day moving average price is $44.24 and its 200-day moving average price is $46.78. The company has a current ratio of 2.84, a quick ratio of 3.51 and a debt-to-equity ratio of 1.87.

Lazard (NYSE:LAZ) last announced its quarterly earnings data on Thursday, July 23rd. The asset manager reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.22). The company had revenue of $786.02 million for the quarter, compared to the consensus estimate of $736.29 million. Lazard had a net margin of 6.95% and a return on equity of 23.58%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 EPS. Equities research analysts forecast that Lazard will post 2.45 earnings per share for the current year.

Institutional Investors Weigh In On Lazard

Large investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in shares of Lazard by 13.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,807,320 shares of the asset manager’s stock valued at $427,685,000 after purchasing an additional 1,047,869 shares in the last quarter. Capital Research Global Investors increased its holdings in Lazard by 9.9% during the fourth quarter. Capital Research Global Investors now owns 2,456,726 shares of the asset manager’s stock valued at $119,299,000 after buying an additional 221,214 shares during the period. Geode Capital Management LLC raised its stake in Lazard by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 2,357,095 shares of the asset manager’s stock worth $114,481,000 after buying an additional 6,429 shares in the last quarter. State Street Corp raised its stake in Lazard by 9.3% in the second quarter. State Street Corp now owns 2,108,229 shares of the asset manager’s stock worth $101,153,000 after buying an additional 180,244 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Lazard by 2.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,929,435 shares of the asset manager’s stock worth $93,693,000 after buying an additional 39,901 shares during the period. Institutional investors own 54.80% of the company’s stock.

Key Lazard News

Here are the key news stories impacting Lazard this week:

• Positive Sentiment: Lazard expanded its buyback plan while continuing to grow Asset Management revenue and assets under management, which supports the long-term capital return and earnings story. LAZ Stock Down as Q2 Earnings Lag on Higher Costs, Expands Buyback Plan
• Positive Sentiment: The company reiterated a long-term revenue target for Lazard Capital and outlined productivity goals, including higher revenue per managing director, suggesting management is focused on improving margins. Lazard targets $10m per MD by 2028 as it reiterates $500m Lazard CL 2027 revenue plan
• Neutral Sentiment: CEO Peter Orszag said AI should make future deal teams “leaner,” reinforcing the firm’s cost-efficiency push, but the impact on near-term results is still uncertain. Lazard CEO Orszag: AI will lead to ‘leaner’ deal teams with more MDs
• Neutral Sentiment: Lazard declared a quarterly dividend, which may appeal to income investors, but it is not a major fresh catalyst for the stock. Lazard earnings report and conference call
• Negative Sentiment: Q2 earnings missed expectations, with EPS of $0.12 versus estimates around $0.34-$0.42, reflecting pressure from weaker Financial Advisory revenue and higher expenses. Lazard (LAZ) Q2 Earnings Miss Estimates
• Negative Sentiment: Profit fell sharply year over year, with reports pointing to a 91% decline in quarterly profit due to a higher tax rate and volatility in the advisory business, which likely weighed on sentiment. Lazard profit plunges on elevated tax rate, financial advisory volatility
• Negative Sentiment: Keefe, Bruyette & Woods cut its price target on LAZ to $42 and kept a market-perform rating, signaling limited near-term upside. Benzinga report on Lazard price target cut

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.