Lazard (NYSE:LAZ) Stock Rating Lowered by Zacks Research

Lazard (NYSE:LAZ) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Argus decreased their target price on shares of Lazard from $63.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Citizens Jmp reduced their price target on Lazard from $65.00 to $60.00 and set a “market outperform” rating on the stock in a research report on Friday, April 10th. Keefe, Bruyette & Woods decreased their price objective on Lazard from $44.00 to $42.00 and set a “market perform” rating for the company in a report on Friday, July 24th. Citigroup reissued a “market outperform” rating on shares of Lazard in a research report on Friday, July 24th. Finally, Morgan Stanley set a $44.00 target price on Lazard in a research note on Friday, July 24th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $50.38.

Lazard Price Performance

Shares of LAZ stock opened at $43.81 on Tuesday. The stock’s 50-day moving average is $43.49 and its 200 day moving average is $46.24. Lazard has a 1-year low of $38.67 and a 1-year high of $58.75. The company has a debt-to-equity ratio of 1.87, a current ratio of 2.84 and a quick ratio of 2.84. The company has a market cap of $4.84 billion, a P/E ratio of 21.47, a PEG ratio of 0.92 and a beta of 1.43.

Lazard (NYSE:LAZ) last released its quarterly earnings results on Friday, July 24th. The asset manager reported $0.12 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 firm had revenue of $786.47 million for the quarter, compared to analysts’ expectations of $736.29 million. During the same period in the previous year, the company posted $0.52 earnings per share. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. Research analysts predict that Lazard will post 2.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lazard

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Kestra Advisory Services LLC acquired a new position in shares of Lazard in the 4th quarter valued at $26,000. Sound Income Strategies LLC lifted its position in Lazard by 59.5% during the 4th 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. Quest 10 Wealth Builders Inc. acquired a new stake in Lazard during the 4th quarter worth about $32,000. IFP Advisors Inc grew its stake in Lazard by 53.5% during the 3rd quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 224 shares during the last quarter. Finally, State of Wyoming acquired a new position in shares of Lazard in the second quarter valued at about $38,000. 54.80% of the stock is currently owned by institutional investors and hedge funds.

About Lazard

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.