Lazard, Inc. (NYSE:LAZ) Short Interest Up 20.7% in April

Lazard, Inc. (NYSE:LAZ) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totaling 4,211,398 shares, a growth of 20.7% from the March 31st total of 3,488,663 shares. Approximately 3.8% of the company’s shares are short sold. Based on an average daily volume of 1,430,019 shares, the short-interest ratio is currently 2.9 days.

Lazard Price Performance

LAZ opened at $45.27 on Friday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 2.28 and a current ratio of 2.28. Lazard has a 52-week low of $38.67 and a 52-week high of $58.75. The stock has a market capitalization of $5.06 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 0.43 and a beta of 1.44. The stock’s 50 day moving average price is $45.25 and its 200-day moving average price is $48.97.

Lazard (NYSE:LAZ) last posted its earnings results on Friday, May 1st. The asset manager reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.10). Lazard had a net margin of 7.49% and a return on equity of 33.04%. The business had revenue of $673.00 million for the quarter, compared to analysts’ expectations of $707.42 million. During the same period last year, the firm posted $0.56 earnings per share. Lazard’s quarterly revenue was up 16.8% on a year-over-year basis. On average, equities research analysts predict that Lazard will post 3.36 EPS for the current year.

Lazard Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Monday, May 11th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, May 11th. This represents a $2.00 annualized dividend and a dividend yield of 4.4%. Lazard’s payout ratio is 91.74%.

Analysts Set New Price Targets

LAZ has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price target on Lazard from $40.00 to $45.00 and gave the stock a “sell” rating in a research note on Tuesday, April 14th. Citizens Jmp decreased their price target on Lazard from $65.00 to $60.00 and set a “market outperform” rating on the stock in a research note on Friday, April 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lazard in a research note on Friday, March 27th. Wall Street Zen cut Lazard from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Morgan Stanley reduced their target price on Lazard from $59.00 to $52.00 and set an “underweight” rating on the stock in a research note on Thursday, April 9th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $52.50.

Insider Buying and Selling

In other Lazard news, CEO Christopher Hogbin sold 7,885 shares of Lazard stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $40.37, for a total value of $318,317.45. Following the transaction, the chief executive officer directly owned 15,773 shares of the company’s stock, valued at $636,756.01. The trade was a 33.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Peter Richard Orszag sold 69,170 shares of Lazard stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $40.76, for a total value of $2,819,369.20. Following the completion of the transaction, the chief executive officer directly owned 210,942 shares in the company, valued at $8,597,995.92. This trade represents a 24.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 80,999 shares of company stock worth $3,292,962 over the last ninety days. Insiders own 0.95% of the company’s stock.

Institutional Investors Weigh In On Lazard

Several hedge funds have recently made changes to their positions in LAZ. Kestra Advisory Services LLC bought a new stake in shares of Lazard during the fourth quarter valued at approximately $26,000. Sound Income Strategies LLC boosted its position in shares of Lazard by 59.5% during the fourth quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 220 shares in the last quarter. Quest 10 Wealth Builders Inc. bought a new stake in shares of Lazard during the fourth quarter valued at approximately $32,000. IFP Advisors Inc boosted its position in shares of Lazard by 53.5% during the third quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 224 shares in the last quarter. Finally, Costello Asset Management INC bought a new stake in shares of Lazard during the third quarter valued at approximately $37,000. 54.80% of the stock is currently owned by institutional investors.

More Lazard News

Here are the key news stories impacting Lazard this week:

• Positive Sentiment: Strategic acquisition — Lazard agreed to buy Campbell Lutyens to create “Lazard CL,” expanding its private-capital advisory capabilities and positioning the firm as a leader in fund placement and secondary advisory, which could boost long-term fee pool and cross?sell opportunities. Article Title
• Positive Sentiment: Asset-management strength — Adjusted net revenue for Asset Management rose 17% YoY with positive net flows of $9 billion; Lazard said the asset-management business drove much of the profit increase this quarter. This supports recurring-fee growth and margin resilience. Article Title
• Positive Sentiment: Dividend — Board declared a $0.50 quarterly dividend (4.4% yield on current levels), payable May 22; a healthy yield can support shareholder returns and investor sentiment. Article Title
• Neutral Sentiment: GAAP vs. adjusted metrics — Lazard reported first-quarter net revenue of $757M and GAAP net income of $101M ($0.91 per share), while adjusted net revenue and the EPS metric investors tracked differ; reconcilement between GAAP and adjusted figures may explain mixed market reaction. Article Title
• Negative Sentiment: Earnings and revenue missed estimates — Reported EPS of $0.42 missed consensus ~$0.52 and revenue of $673M missed estimates near $707M; missing both top- and bottom-line expectations is the primary catalyst for the stock decline as it shows near-term operating pressure vs. Street models. Article Title
• Negative Sentiment: Market focus and volume — Shares moved lower on the earnings miss with above-average volume, suggesting investors are prioritizing near-term earnings shortfalls and uncertainty over integration/timing of growth from the acquisition. Article Title

Lazard Company Profile

Lazard Ltd. (NYSE: LAZ) is a leading global financial advisory and asset management firm, offering a comprehensive suite of services to corporations, governments and individuals. Founded in 1848, Lazard has built a reputation for providing independent advice and innovative solutions in complex financial transactions. The firm is publicly traded on the New York Stock Exchange under the ticker symbol LAZ and maintains its headquarters in Hamilton, Bermuda.

In its Financial Advisory segment, Lazard assists clients with mergers and acquisitions, restructurings, capital structure optimization and strategic planning.