Lazard (LAZ) Hits New 52-Week Low at $37.74

Lazard Ltd (NYSE:LAZ) shares reached a new 52-week low on Tuesday . The company traded as low as $37.74 and last traded at $37.75, with a volume of 1136051 shares. The stock had previously closed at $38.60.

A number of research analysts have weighed in on the stock. ValuEngine lowered shares of Lazard from a “sell” rating to a “strong sell” rating in a research note on Thursday. Zacks Investment Research raised shares of Lazard from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Tuesday, July 31st. TheStreet lowered shares of Lazard from a “b” rating to a “c+” rating in a research note on Friday, July 27th. Buckingham Research decreased their target price on shares of Lazard from $64.00 to $52.00 and set a “neutral” rating on the stock in a research note on Friday, October 26th. Finally, Goldman Sachs Group assumed coverage on shares of Lazard in a research note on Tuesday, November 6th. They issued a “neutral” rating and a $46.00 target price on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Lazard has an average rating of “Hold” and an average target price of $57.75.

The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 1.28. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of 9.84, a P/E/G ratio of 1.10 and a beta of 1.86.

Lazard (NYSE:LAZ) last announced its quarterly earnings results on Thursday, October 25th. The asset manager reported $0.86 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.07). The firm had revenue of $605.61 million for the quarter. Lazard had a return on equity of 49.98% and a net margin of 11.49%. Analysts anticipate that Lazard Ltd will post 4.26 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 16th. Stockholders of record on Monday, November 5th will be issued a dividend of $0.44 per share. The ex-dividend date is Friday, November 2nd. This represents a $1.76 dividend on an annualized basis and a dividend yield of 4.73%. Lazard’s dividend payout ratio is currently 46.56%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wedge Capital Management L L P NC increased its holdings in shares of Lazard by 9.5% during the 2nd quarter. Wedge Capital Management L L P NC now owns 12,515 shares of the asset manager’s stock worth $612,000 after buying an additional 1,087 shares during the last quarter. Putnam Investments LLC increased its holdings in shares of Lazard by 27.0% during the 2nd quarter. Putnam Investments LLC now owns 5,664 shares of the asset manager’s stock worth $277,000 after buying an additional 1,203 shares during the last quarter. Twin Capital Management Inc. increased its holdings in shares of Lazard by 2.1% during the 2nd quarter. Twin Capital Management Inc. now owns 71,390 shares of the asset manager’s stock worth $3,492,000 after buying an additional 1,450 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Lazard by 2.2% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 75,135 shares of the asset manager’s stock worth $3,675,000 after buying an additional 1,625 shares during the last quarter. Finally, Greystone Managed Investments Inc. increased its holdings in shares of Lazard by 3.0% during the 2nd quarter. Greystone Managed Investments Inc. now owns 55,434 shares of the asset manager’s stock worth $2,711,000 after buying an additional 1,640 shares during the last quarter. Institutional investors and hedge funds own 70.67% of the company’s stock.

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Lazard Company Profile (NYSE:LAZ)

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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