Shares of Lazard Ltd. (NYSE:LAZ) have been assigned a consensus rating of “Buy” from the eleven ratings firms that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $46.43.
A number of analysts recently issued reports on the stock. BidaskClub raised shares of Lazard from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 31st. Zacks Investment Research downgraded shares of Lazard from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, ValuEngine raised shares of Lazard from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 28th.
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Lazard (LAZ) traded up 0.29% during midday trading on Tuesday, reaching $41.70. 666,091 shares of the company traded hands. The firm has a market capitalization of $5.07 billion, a PE ratio of 11.81 and a beta of 1.84. The company’s 50-day moving average price is $43.38 and its 200 day moving average price is $44.66. Lazard has a 12 month low of $33.48 and a 12 month high of $48.86.
Lazard (NYSE:LAZ) last posted its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.98 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.18. The company had revenue of $720.16 million during the quarter, compared to the consensus estimate of $627.12 million. Lazard had a net margin of 17.39% and a return on equity of 39.33%. The company’s quarterly revenue was up 32.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.61 EPS. On average, equities analysts anticipate that Lazard will post $3.52 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Monday, August 7th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend was Thursday, August 3rd. Lazard’s dividend payout ratio is presently 46.46%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LAZ. BlackRock Inc. boosted its holdings in Lazard by 68,589.3% in the 1st quarter. BlackRock Inc. now owns 7,603,906 shares of the asset manager’s stock worth $349,704,000 after acquiring an additional 7,592,836 shares during the period. LSV Asset Management boosted its holdings in Lazard by 560.2% in the 2nd quarter. LSV Asset Management now owns 3,428,390 shares of the asset manager’s stock worth $158,837,000 after acquiring an additional 2,909,090 shares during the period. BT Investment Management Ltd purchased a new position in Lazard in the 2nd quarter worth approximately $94,831,000. Westpac Banking Corp purchased a new position in Lazard in the 1st quarter worth approximately $103,532,000. Finally, Vanguard Group Inc. boosted its holdings in Lazard by 7.4% in the 2nd quarter. Vanguard Group Inc. now owns 10,967,499 shares of the asset manager’s stock worth $508,124,000 after acquiring an additional 750,941 shares during the period. Hedge funds and other institutional investors own 72.15% of the company’s stock.
Lazard Company Profile
Lazard Ltd (Lazard) is a financial advisory and asset management company. The Company operates through two segments: Financial Advisory and Asset Management. It serves a range of clients around the world, including corporations, governments, institutions, partnerships and individuals. The Financial Advisory business segment offers corporate, partnership, institutional, government, sovereign and individual clients across the globe 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 to corporate, partnership, institutional, government, sovereign and individual clients.
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