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

Shares of Lazard, Inc. (NYSE:LAZ) have been given an average rating of “Hold” by the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $50.3750.

LAZ has been the subject of several research analyst reports. Zacks Research downgraded Lazard from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 4th. Morgan Stanley set a $44.00 target price on Lazard in a report on Friday, July 24th. The Goldman Sachs Group reissued a “sell” rating on shares of Lazard in a research report on Thursday, July 23rd. Argus cut their price objective on Lazard from $63.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Finally, Citigroup reiterated a “market outperform” rating on shares of Lazard in a research note on Friday, July 24th.

Institutional Investors Weigh In On Lazard

A number of institutional investors have recently added to or reduced their stakes in the stock. Teza Capital Management LLC grew its position in Lazard by 2.4% in the second quarter. Teza Capital Management LLC now owns 8,059 shares of the asset manager’s stock valued at $387,000 after acquiring an additional 187 shares during the period. IFP Advisors Inc lifted its holdings in shares of Lazard by 53.5% during the third 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. Xponance LLC lifted its holdings in shares of Lazard by 3.7% during the fourth quarter. Xponance LLC now owns 6,454 shares of the asset manager’s stock valued at $313,000 after acquiring an additional 232 shares during the period. Bleakley Financial Group LLC lifted its holdings in shares of Lazard by 2.7% during the first quarter. Bleakley Financial Group LLC now owns 11,111 shares of the asset manager’s stock valued at $472,000 after acquiring an additional 289 shares during the period. Finally, TD Waterhouse Canada Inc. boosted its position in Lazard by 18.2% in the fourth quarter. TD Waterhouse Canada Inc. now owns 2,294 shares of the asset manager’s stock valued at $111,000 after buying an additional 353 shares in the last quarter. 54.80% of the stock is owned by institutional investors and hedge funds.

Lazard Stock Down 0.1%

LAZ stock opened at $44.10 on Thursday. Lazard has a 12 month low of $38.67 and a 12 month high of $58.75. The firm has a market cap of $4.88 billion, a PE ratio of 21.62, a P/E/G ratio of 0.93 and a beta of 1.43. The firm has a 50 day simple moving average of $42.91 and a 200 day simple moving average of $45.42. The company has a debt-to-equity ratio of 1.87, a current ratio of 2.84 and a quick ratio of 2.84.

Lazard (NYSE:LAZ) last announced its earnings results on Friday, July 24th. The asset manager reported $0.12 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.22). The company had revenue of $786.47 million for the quarter, compared to analysts’ expectations of $736.29 million. Lazard had a net margin of 6.95% and a return on equity of 23.58%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.52 earnings per share. Equities research analysts forecast that Lazard will post 2.18 earnings per share for the current fiscal year.

Lazard Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Monday, August 3rd. Lazard’s dividend payout ratio (DPR) is 98.04%.

Lazard Company Profile

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.