Brokerages Set Lazard, Inc. (NYSE:LAZ) Price Target at $50.38

Lazard, Inc. (NYSE:LAZ) has received an average recommendation of “Hold” from the eleven analysts that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $50.3750.

A number of brokerages have weighed in on LAZ. Keefe, Bruyette & Woods dropped their price target on shares of Lazard from $44.00 to $42.00 and set a “market perform” rating for the company in a research report on Friday, July 24th. Zacks Research upgraded shares of Lazard from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. UBS Group reaffirmed a “neutral” rating and set a $44.00 price objective on shares of Lazard in a research report on Tuesday, June 9th. Argus dropped their target price on shares of Lazard from $63.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Finally, The Goldman Sachs Group reissued a “sell” rating on shares of Lazard in a research report on Thursday, July 23rd.

Institutional Investors Weigh In On Lazard

Several institutional investors and hedge funds have recently modified their holdings of LAZ. Teza Capital Management LLC lifted its holdings in shares of Lazard by 2.4% in the 2nd quarter. Teza Capital Management LLC now owns 8,059 shares of the asset manager’s stock valued at $387,000 after buying an additional 187 shares during the period. Sound Income Strategies LLC grew its holdings in Lazard by 59.5% during the fourth quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock worth $31,000 after acquiring an additional 220 shares during the period. IFP Advisors Inc grew its holdings in Lazard by 53.5% during the third quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock worth $34,000 after acquiring an additional 224 shares during the period. Xponance LLC raised its position in Lazard by 3.7% in the fourth quarter. Xponance LLC now owns 6,454 shares of the asset manager’s stock worth $313,000 after acquiring an additional 232 shares in the last quarter. Finally, Bleakley Financial Group LLC raised its position in Lazard by 2.7% in the first quarter. Bleakley Financial Group LLC now owns 11,111 shares of the asset manager’s stock worth $472,000 after acquiring an additional 289 shares in the last quarter. Hedge funds and other institutional investors own 54.80% of the company’s stock.

Lazard Stock Down 0.4%

Shares of NYSE:LAZ opened at $42.80 on Friday. The business has a 50-day moving average price of $44.13 and a 200 day moving average price of $46.63. The company has a current ratio of 2.84, a quick ratio of 3.51 and a debt-to-equity ratio of 1.87. The company has a market capitalization of $4.78 billion, a price-to-earnings ratio of 20.98, a PEG ratio of 0.92 and a beta of 1.43. Lazard has a 12-month low of $38.67 and a 12-month high of $58.75.

Lazard (NYSE:LAZ) last issued its quarterly earnings data on Friday, July 24th. The asset manager reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.22). Lazard had a net margin of 6.95% and a return on equity of 23.58%. The company had revenue of $786.47 million during the quarter, compared to analysts’ expectations of $736.29 million. During the same quarter last year, the firm posted $0.52 earnings per share. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. Sell-side analysts expect that Lazard will post 2.15 EPS for the current year.

Lazard Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Monday, August 3rd will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.7%. Lazard’s payout ratio is presently 98.04%.

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.