Several other equities research analysts also recently weighed in on the company. Nomura increased their price target on Lazard from $43.00 to $46.00 and gave the stock a neutral rating in a report on Friday, November 3rd. Buckingham Research downgraded Lazard from a buy rating to a neutral rating and set a $54.00 target price for the company. in a report on Thursday, December 21st. Zacks Investment Research downgraded Lazard from a buy rating to a hold rating in a report on Wednesday, January 3rd. Finally, ValuEngine downgraded Lazard from a strong-buy rating to a buy rating in a report on Tuesday, October 3rd. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $53.80.
Shares of Lazard (NYSE LAZ) traded up $0.71 during trading on Wednesday, reaching $57.27. 550,000 shares of the company’s stock traded hands, compared to its average volume of 748,900. The stock has a market capitalization of $7,550.00, a price-to-earnings ratio of 16.00, a P/E/G ratio of 1.86 and a beta of 1.89. Lazard has a one year low of $40.25 and a one year high of $57.58. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.09 and a quick ratio of 2.09.
Lazard (NYSE:LAZ) last announced its quarterly earnings results on Thursday, October 26th. The asset manager reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.10. The company had revenue of $624.00 million for the quarter, compared to analyst estimates of $593.19 million. Lazard had a net margin of 17.16% and a return on equity of 38.81%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.85 earnings per share. sell-side analysts predict that Lazard will post 3.58 earnings per share for the current year.
Lazard declared that its board has initiated a stock repurchase program on Wednesday, October 25th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the asset manager to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
Large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in shares of Lazard by 9.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,701 shares of the asset manager’s stock worth $172,000 after buying an additional 306 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Lazard during the 2nd quarter worth about $179,000. Cambridge Investment Research Advisors Inc. purchased a new stake in Lazard during the 3rd quarter worth about $221,000. The Manufacturers Life Insurance Company increased its position in Lazard by 18.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,843 shares of the asset manager’s stock worth $225,000 after purchasing an additional 753 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in Lazard by 57.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,327 shares of the asset manager’s stock worth $247,000 after purchasing an additional 1,947 shares in the last quarter. 73.47% of the stock is owned by institutional investors and hedge funds.
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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