Lazard Ltd (NYSE:LAZ) has been assigned a consensus recommendation of “Buy” from the twelve brokerages that are covering the stock. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $49.11.
LAZ has been the topic of several recent research reports. Credit Suisse Group AG restated a “buy” rating on shares of Lazard in a report on Tuesday, June 28th. Nomura restated a “buy” rating and set a $46.00 target price on shares of Lazard in a report on Wednesday, July 6th. TheStreet upgraded Lazard to a “buy” rating in a report on Thursday, August 18th. Finally, Zacks Investment Research upgraded Lazard from a “sell” rating to a “hold” rating in a report on Tuesday, August 30th.
In other Lazard news, General Counsel Scott D. Hoffman sold 42,000 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $34.92, for a total transaction of $1,466,640.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jane L. Mendillo purchased 1,400 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were purchased at an average price of $35.22 per share, for a total transaction of $49,308.00. The disclosure for this purchase can be found here.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its position in Lazard by 50.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,454 shares of the company’s stock worth $103,000 after buying an additional 1,160 shares during the period. Westport Resources Management Inc. boosted its position in Lazard by 100.0% in the second quarter. Westport Resources Management Inc. now owns 3,800 shares of the company’s stock worth $113,000 after buying an additional 1,900 shares during the period. Canada Pension Plan Investment Board boosted its position in Lazard by 3.2% in the first quarter. Canada Pension Plan Investment Board now owns 3,200 shares of the company’s stock worth $124,000 after buying an additional 100 shares during the period. Synovus Financial Corp boosted its position in Lazard by 0.7% in the second quarter. Synovus Financial Corp now owns 5,227 shares of the company’s stock worth $156,000 after buying an additional 36 shares during the period. Finally, Societe Generale purchased a new position in Lazard during the second quarter worth approximately $169,000.
Lazard (NYSE:LAZ) opened at 35.89 on Tuesday. The firm’s 50-day moving average price is $36.54 and its 200 day moving average price is $35.08. The stock has a market capitalization of $4.46 billion, a P/E ratio of 6.79 and a beta of 2.20. Lazard has a 12-month low of $26.21 and a 12-month high of $49.57.
Lazard (NYSE:LAZ) last issued its earnings results on Thursday, July 28th. The company reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. The company had revenue of $542.30 million for the quarter, compared to analyst estimates of $542.68 million. The company’s revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 earnings per share. On average, equities analysts anticipate that Lazard will post $2.84 EPS for the current year.
Lazard Ltd (Lazard) is a financial advisory and asset management company. The Company operates in two business segments: Financial Advisory and Asset Management. The Financial Advisory business segment offers corporate, partnership, institutional, government, sovereign and individual clients 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.
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