Shares of Lazard Ltd (NYSE:LAZ) have earned a consensus recommendation of “Hold” from the nine brokerages that are currently covering the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $45.00.
A number of research firms recently issued reports on LAZ. Raymond James Financial, Inc. downgraded Lazard from a “strong-buy” rating to an “outperform” rating and set a $45.00 target price on the stock. in a research report on Friday, January 20th. Zacks Investment Research downgraded Lazard from a “buy” rating to a “hold” rating in a research report on Wednesday, December 28th. Bank of America Corp began coverage on Lazard in a research report on Wednesday, December 14th. They issued an “underperform” rating and a $40.00 target price on the stock. Nomura downgraded Lazard from a “buy” rating to a “neutral” rating in a research report on Thursday, January 5th. Finally, Keefe, Bruyette & Woods began coverage on Lazard in a research report on Friday, February 17th. They issued an “outperform” rating and a $51.00 target price on the stock.
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In other Lazard news, General Counsel Scott D. Hoffman sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The stock was sold at an average price of $43.16, for a total transaction of $863,200.00. Following the transaction, the general counsel now owns 129,031 shares of the company’s stock, valued at $5,568,977.96. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.20% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Lazard during the fourth quarter worth $26,117,000. Sowell Financial Services LLC acquired a new position in shares of Lazard during the fourth quarter worth $328,000. I.G. Investment Management LTD. acquired a new position in shares of Lazard during the fourth quarter worth $12,635,000. Putnam Investments LLC increased its position in shares of Lazard by 24.1% in the fourth quarter. Putnam Investments LLC now owns 18,751 shares of the company’s stock worth $771,000 after buying an additional 3,647 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in shares of Lazard by 60.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 40,920 shares of the company’s stock worth $1,682,000 after buying an additional 15,390 shares during the period. 70.45% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lazard (NYSE:LAZ) opened at 45.04 on Thursday. The company has a market cap of $5.48 billion, a P/E ratio of 15.42 and a beta of 1.91. The firm has a 50 day moving average price of $43.50 and a 200-day moving average price of $39.93. Lazard has a 12 month low of $26.21 and a 12 month high of $47.09.
Lazard (NYSE:LAZ) last released its earnings results on Thursday, February 2nd. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.12. The business had revenue of $685 million for the quarter, compared to the consensus estimate of $679.51 million. Lazard had a return on equity of 32.97% and a net margin of 16.26%. Lazard’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 earnings per share. Analysts anticipate that Lazard will post $3.25 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 24th. Shareholders of record on Monday, February 13th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend was Thursday, February 9th. Lazard’s dividend payout ratio (DPR) is presently 52.05%.
Lazard Company Profile
Lazard Ltd (Lazard) is a financial advisory and asset management company. The Company operates in two business segments: Financial Advisory and Asset Management. The Financial Advisory business segment offers corporate, partnership, institutional, government, sovereign and individual clients a range of financial advisory services regarding mergers and acquisitions (M&A) and other strategic matters, restructurings, capital structure, capital raising and various other financial matters.
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