Lazard Ltd (NYSE:LAZ) has earned an average rating of “Buy” from the eleven brokerages that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $48.56.
A number of equities research analysts have recently commented on the company. Buckingham Research downgraded Lazard from a “buy” rating to a “neutral” rating and set a $54.00 price objective for the company. in a research report on Thursday. Nomura lifted their price objective on Lazard from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Zacks Investment Research raised Lazard from a “hold” rating to a “strong-buy” rating and set a $53.00 price objective for the company in a research report on Monday, October 23rd. Finally, ValuEngine downgraded Lazard from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 3rd.
Shares of Lazard (LAZ) traded down $0.86 during trading hours on Thursday, hitting $50.17. The stock had a trading volume of 435,200 shares, compared to its average volume of 799,222. The stock has a market capitalization of $6,621.96, a P/E ratio of 13.46, a P/E/G ratio of 1.74 and a beta of 1.89. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.09 and a current ratio of 2.09. Lazard has a twelve month low of $40.22 and a twelve month high of $52.30.
Lazard (NYSE:LAZ) last announced its quarterly earnings data on Thursday, October 26th. The asset manager reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.10. The business had revenue of $624.00 million during the quarter, compared to the consensus estimate of $593.19 million. Lazard had a return on equity of 38.81% and a net margin of 17.16%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 earnings per share. research analysts forecast that Lazard will post 3.58 earnings per share for the current year.
Lazard declared that its Board of Directors has authorized a share buyback plan on Wednesday, October 25th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the asset manager to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
A number of institutional investors have recently modified their holdings of LAZ. PNC Financial Services Group Inc. lifted its stake in shares of Lazard by 9.0% during the second quarter. PNC Financial Services Group Inc. now owns 3,701 shares of the asset manager’s stock worth $172,000 after purchasing an additional 306 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Lazard during the second quarter worth about $179,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Lazard during the third quarter worth about $221,000. The Manufacturers Life Insurance Company lifted its stake in shares of Lazard by 18.4% during the second 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 lifted its stake in shares of Lazard by 57.6% during the second 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. Hedge funds and other institutional investors own 73.47% of the company’s stock.
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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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