Shares of Lazard Ltd (NYSE:LAZ) have been assigned a consensus rating of “Buy” from the twelve research firms that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $60.13.
Several analysts recently weighed in on the company. Zacks Investment Research upgraded Lazard from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research note on Monday, February 5th. TheStreet upgraded Lazard from a “c+” rating to a “b” rating in a research note on Thursday, April 26th. Nomura increased their target price on Lazard from $62.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $67.00 target price on shares of Lazard in a research note on Thursday, February 1st. Finally, ValuEngine upgraded Lazard from a “buy” rating to a “strong-buy” rating in a research note on Friday, April 27th.
In other news, COO Alexander F. Stern sold 65,160 shares of the firm’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $53.12, for a total value of $3,461,299.20. Following the transaction, the chief operating officer now directly owns 276,886 shares in the company, valued at approximately $14,708,184.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Scott D. Hoffman sold 15,000 shares of the firm’s stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $52.13, for a total value of $781,950.00. Following the completion of the transaction, the chief accounting officer now owns 147,341 shares in the company, valued at $7,680,886.33. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,320 shares of company stock worth $5,053,854. Company insiders own 2.76% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Denali Advisors LLC purchased a new position in shares of Lazard in the 4th quarter worth $105,000. Advisory Services Network LLC boosted its stake in shares of Lazard by 83.2% in the 4th quarter. Advisory Services Network LLC now owns 2,151 shares of the asset manager’s stock worth $113,000 after buying an additional 977 shares during the last quarter. Summit Trail Advisors LLC raised its holdings in Lazard by 4,755.8% in the 1st quarter. Summit Trail Advisors LLC now owns 113,965 shares of the asset manager’s stock worth $114,000 after purchasing an additional 111,618 shares during the period. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC bought a new position in Lazard in the 4th quarter worth $125,000. Finally, First Dallas Securities Inc. bought a new position in Lazard in the 4th quarter worth $127,000. Hedge funds and other institutional investors own 71.97% of the company’s stock.
Shares of Lazard traded up $0.26, hitting $54.33, during midday trading on Friday, Marketbeat Ratings reports. The company had a trading volume of 25,520 shares, compared to its average volume of 638,752. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $7.10 billion, a P/E ratio of 14.30, a PEG ratio of 1.40 and a beta of 1.86. Lazard has a 52-week low of $40.50 and a 52-week high of $60.00.
Lazard (NYSE:LAZ) last posted its quarterly earnings results on Thursday, April 26th. The asset manager reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.04 by $0.22. The company had revenue of $724.00 million for the quarter, compared to the consensus estimate of $652.99 million. Lazard had a return on equity of 44.63% and a net margin of 10.81%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.83 EPS. equities analysts expect that Lazard will post 4.35 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 18th. Stockholders of record on Monday, May 7th were paid a $0.44 dividend. This is an increase from Lazard’s previous quarterly dividend of $0.12. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.24%. The ex-dividend date was Friday, May 4th. Lazard’s dividend payout ratio (DPR) is 46.56%.
Lazard Company Profile
Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm worldwide. Its Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions and other strategic matters, restructurings, capital structure, capital raising, shareholder advisory, and various other financial matters.
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