Lazard Ltd (NYSE:LAZ) Receives $38.00 Average PT from Brokerages

Lazard Ltd (NYSE:LAZ) has received an average rating of “Hold” from the eight brokerages that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $39.20.

A number of analysts recently issued reports on the company. Morgan Stanley assumed coverage on Lazard in a report on Wednesday, November 27th. They set an “underweight” rating and a $35.00 price objective on the stock. Wolfe Research raised Lazard from an “underperform” rating to a “peer perform” rating in a report on Monday, January 6th. Zacks Investment Research raised Lazard from a “strong sell” rating to a “hold” rating and set a $42.00 price objective on the stock in a report on Thursday, January 2nd. Buckingham Research increased their price objective on Lazard from $40.00 to $46.00 and gave the stock a “neutral” rating in a report on Monday. Finally, ValuEngine raised Lazard from a “sell” rating to a “hold” rating in a report on Monday, December 30th.

Shares of NYSE LAZ traded down $0.31 during trading on Friday, reaching $44.24. 1,339,300 shares of the stock traded hands, compared to its average volume of 1,159,275. Lazard has a 52-week low of $31.07 and a 52-week high of $44.95. The company has a debt-to-equity ratio of 3.40, a current ratio of 1.91 and a quick ratio of 1.91. The company has a 50-day moving average of $40.10 and a 200-day moving average of $37.07. The stock has a market capitalization of $4.65 billion, a P/E ratio of 10.63 and a beta of 1.72.

Lazard (NYSE:LAZ) last issued its quarterly earnings results on Thursday, October 31st. The asset manager reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.03. Lazard had a return on equity of 50.66% and a net margin of 12.29%. The firm had revenue of $588.00 million for the quarter, compared to analysts’ expectations of $612.98 million. During the same quarter in the prior year, the firm earned $0.86 EPS. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. Analysts expect that Lazard will post 3.12 earnings per share for the current fiscal year.

In other Lazard news, CAO Scott D. Hoffman sold 40,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $38.25, for a total value of $1,530,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Dominick Ragone sold 4,293 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $38.62, for a total value of $165,795.66. The disclosure for this sale can be found here. Corporate insiders own 2.94% of the company’s stock.

Several large investors have recently added to or reduced their stakes in LAZ. HM Payson & Co. purchased a new stake in shares of Lazard in the 2nd quarter valued at about $103,000. AlphaMark Advisors LLC purchased a new stake in shares of Lazard in the 3rd quarter valued at about $103,000. ETF Managers Group LLC purchased a new stake in shares of Lazard in the 2nd quarter valued at about $173,000. Atria Investments LLC purchased a new stake in shares of Lazard in the 2nd quarter valued at about $199,000. Finally, Boyd Watterson Asset Management LLC OH bought a new position in shares of Lazard during the 4th quarter valued at about $206,000. 79.25% of the stock is currently 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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