Lazard, Inc. (NYSE:LAZ) Stock Has Average Target Price of $46.50

Lazard, Inc. (NYSE:LAZ) has earned an average rating of “Hold” from the ten brokerages that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $46.50.

Several analysts recently commented on the company. Citigroup reaffirmed a “market outperform” rating on shares of Lazard in a report on Friday, July 24th. The Goldman Sachs Group set a $35.00 price target on Lazard in a report on Thursday, October 22nd. Morgan Stanley lowered their price objective on Lazard from $41.00 to $40.00 and set an “underweight” rating on the stock in a research report on Friday, October 23rd. Capital One Financial set a $38.00 price objective on shares of Lazard in a research note on Tuesday, October 6th. Finally, Wall Street Zen raised shares of Lazard from a “sell” rating to a “hold” rating in a research note on Sunday, November 1st.

Lazard Price Performance

Shares of LAZ opened at $38.56 on Tuesday. The business’s 50-day moving average is $38.37 and its two-hundred day moving average is $44.04. The company has a market capitalization of $4.23 billion, a P/E ratio of 23.92, a P/E/G ratio of 2.13 and a beta of 1.47. The company has a debt-to-equity ratio of 1.80, a quick ratio of 2.66 and a current ratio of 2.66. Lazard has a fifty-two week low of $34.13 and a fifty-two week high of $58.75.

Lazard (NYSE:LAZ) last released its quarterly earnings data on Thursday, October 22nd. The asset manager reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.06). The company had revenue of $804.62 million for the quarter, compared to analysts’ expectations of $844.23 million. Lazard had a net margin of 5.55% and a return on equity of 20.76%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 EPS. Research analysts predict that Lazard will post 1.34 earnings per share for the current year.

Lazard Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Monday, November 2nd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.2%. The ex-dividend date is Monday, November 2nd. Lazard’s dividend payout ratio (DPR) is currently 121.21%.

Insider Buying and Selling

In other Lazard news, CEO Peter Orszag sold 125,000 shares of Lazard stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $43.52, for a total value of $5,440,000.00. Following the completion of the transaction, the chief executive officer owned 260,942 shares of the company’s stock, valued at approximately $11,356,195.84. The trade was a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.95% of the company’s stock.

Institutional Investors Weigh In On Lazard

Several hedge funds have recently modified their holdings of the company. EFG International AG purchased a new position in Lazard in the 2nd quarter valued at $739,000. Janus Henderson Group PLC grew its holdings in shares of Lazard by 3.5% during the first quarter. Janus Henderson Group PLC now owns 1,431,358 shares of the asset manager’s stock worth $60,806,000 after buying an additional 48,607 shares in the last quarter. Deutsche Bank AG purchased a new stake in shares of Lazard during the second quarter worth $1,093,000. Engineers Gate Manager LP grew its holdings in shares of Lazard by 74.7% during the second quarter. Engineers Gate Manager LP now owns 95,509 shares of the asset manager’s stock worth $4,006,000 after buying an additional 40,846 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of Lazard in the second quarter valued at about $42,122,000. 54.80% of the stock is owned by hedge funds and other institutional investors.

Lazard Company Profile

Lazard, Ltd. is a global financial advisory and asset management firm that serves corporations, financial institutions, governments, sovereign entities and individuals. Its Financial Advisory business provides advice on mergers and acquisitions, strategic matters, capital structure, restructuring, capital raising and other complex financial transactions.

Through its Asset Management business, Lazard offers investment strategies across equities, fixed income, private markets, alternatives and multi-asset portfolios.