Lazard Ltd (NYSE:LAZ) has been given an average rating of “Hold” by the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $42.40.
Several brokerages have commented on LAZ. Zacks Investment Research raised Lazard from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Bank of America downgraded Lazard from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a research report on Thursday, April 11th. Finally, UBS Group downgraded Lazard from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $43.00 to $36.00 in a research report on Monday, June 10th.
Large investors have recently made changes to their positions in the company. Alpha Omega Wealth Management LLC grew its holdings in shares of Lazard by 111.3% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 1,253 shares of the asset manager’s stock worth $45,000 after purchasing an additional 660 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Lazard by 61.8% during the 4th quarter. Advisors Asset Management Inc. now owns 1,707 shares of the asset manager’s stock worth $63,000 after purchasing an additional 652 shares in the last quarter. Quantamental Technologies LLC acquired a new stake in shares of Lazard during the 1st quarter worth approximately $97,000. Chiron Investment Management LLC grew its holdings in shares of Lazard by 7.5% during the 4th quarter. Chiron Investment Management LLC now owns 4,303 shares of the asset manager’s stock worth $159,000 after purchasing an additional 300 shares in the last quarter. Finally, Oakbrook Investments LLC acquired a new stake in shares of Lazard during the 1st quarter worth approximately $217,000. 65.59% of the stock is currently owned by institutional investors.
NYSE LAZ traded up $0.08 during trading on Monday, hitting $34.39. The company’s stock had a trading volume of 2,447,632 shares, compared to its average volume of 910,533. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.28. The business’s 50 day moving average is $34.19. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 8.27, a P/E/G ratio of 3.39 and a beta of 1.67. Lazard has a 52 week low of $31.07 and a 52 week high of $54.64.
Lazard (NYSE:LAZ) last issued its quarterly earnings results on Thursday, April 25th. The asset manager reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.29. The company had revenue of $620.00 million for the quarter, compared to the consensus estimate of $598.66 million. Lazard had a return on equity of 48.17% and a net margin of 16.72%. The company’s revenue for the quarter was down 14.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.26 EPS. As a group, analysts predict that Lazard will post 3.71 earnings per share for the current year.
Lazard Company Profile
Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm worldwide. Its Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions and other strategic matters, restructurings, capital structure, capital raising, shareholder advisory, and various other financial matters.
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