Lazard (NYSE:LAZ) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of Lazard (NYSE:LAZFree Report) from a buy rating to a hold rating in a research report report published on Saturday.

Other equities analysts have also recently issued reports about the company. UBS Group cut their price target on Lazard from $59.00 to $48.00 and set a “neutral” rating on the stock in a report on Thursday. Morgan Stanley dropped their target price on shares of Lazard from $61.00 to $59.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Lazard in a research note on Monday, December 29th. Bank of America assumed coverage on shares of Lazard in a report on Monday, January 26th. They issued a “buy” rating and a $65.00 price target for the company. Finally, Zacks Research raised shares of Lazard from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $55.75.

View Our Latest Research Report on LAZ

Lazard Stock Performance

Shares of Lazard stock opened at $40.51 on Friday. The business has a 50-day moving average price of $51.13 and a two-hundred day moving average price of $51.33. Lazard has a 1-year low of $31.97 and a 1-year high of $58.75. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 1.85. The company has a market cap of $4.53 billion, a P/E ratio of 18.58, a PEG ratio of 0.32 and a beta of 1.40.

Lazard (NYSE:LAZGet Free Report) last announced its quarterly earnings data on Thursday, January 29th. The asset manager reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $876.32 million. During the same period in the previous year, the business earned $0.78 EPS. The firm’s revenue was up 11.0% compared to the same quarter last year. As a group, analysts anticipate that Lazard will post 4.24 EPS for the current year.

Lazard Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Monday, February 9th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Monday, February 9th. Lazard’s dividend payout ratio is presently 91.74%.

Institutional Trading of Lazard

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Kestra Advisory Services LLC bought a new position in shares of Lazard in the fourth quarter valued at $26,000. Sound Income Strategies LLC increased its position in shares of Lazard by 59.5% during the fourth quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock worth $31,000 after acquiring an additional 220 shares in the last quarter. Quest 10 Wealth Builders Inc. bought a new stake in shares of Lazard during the fourth quarter worth about $32,000. IFP Advisors Inc lifted 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 in the last quarter. Finally, Costello Asset Management INC bought a new position in Lazard in the 3rd quarter valued at about $37,000. Institutional investors own 54.80% of the company’s stock.

Lazard News Roundup

Here are the key news stories impacting Lazard this week:

Lazard Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Lazard (NYSE:LAZ)

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