Lazard (LAZ) Rating Increased to Sell at ValuEngine

Lazard (NYSE:LAZ) was upgraded by research analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a report released on Friday.

A number of other research analysts have also recently issued reports on LAZ. Zacks Investment Research raised Lazard from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Tuesday, July 31st. TheStreet cut Lazard from a “b” rating to a “c+” rating in a research note on Friday, July 27th. Buckingham Research decreased their target price on Lazard from $64.00 to $52.00 and set a “neutral” rating for the company in a research note on Friday, October 26th. Goldman Sachs Group started coverage on Lazard in a research note on Tuesday, November 6th. They issued a “neutral” rating and a $46.00 target price for the company. Finally, Wolfe Research started coverage on Lazard in a research note on Tuesday, September 25th. They issued a “market perform” rating for the company. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $57.75.

NYSE LAZ traded up $0.77 on Friday, reaching $39.59. The company had a trading volume of 524,800 shares, compared to its average volume of 795,693. The company has a market capitalization of $5.04 billion, a PE ratio of 10.47, a P/E/G ratio of 1.11 and a beta of 1.86. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 1.28. Lazard has a 52 week low of $36.51 and a 52 week high of $60.00.

Lazard (NYSE:LAZ) last released its quarterly earnings data on Thursday, October 25th. The asset manager reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.07). The company had revenue of $605.61 million during the quarter. Lazard had a net margin of 11.49% and a return on equity of 49.98%. As a group, sell-side analysts predict that Lazard will post 4.26 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of LAZ. Wedge Capital Management L L P NC boosted its position in shares of Lazard by 9.5% during the second 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 period. Putnam Investments LLC boosted its position in shares of Lazard by 27.0% during the second 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 period. Twin Capital Management Inc. boosted its position in shares of Lazard by 2.1% during the second 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 period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Lazard by 2.2% during the second 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 period. Finally, MRJ Capital Inc. boosted its position in shares of Lazard by 1.9% during the second quarter. MRJ Capital Inc. now owns 86,141 shares of the asset manager’s stock worth $4,213,000 after buying an additional 1,641 shares during the period. 69.27% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Lazard (NYSE:LAZ)

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