ValuEngine Lowers Lazard (LAZ) to Sell

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Lazard (NYSE:LAZ) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

Several other equities research analysts also recently weighed in on LAZ. Zacks Investment Research downgraded shares of Lazard from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th. TheStreet downgraded shares of Lazard from a “b” rating to a “c+” rating in a research note on Friday, July 27th. Finally, Wolfe Research started coverage on shares of Lazard in a research note on Tuesday, September 25th. They issued a “market perform” rating for the company. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $60.25.

Shares of LAZ opened at $41.96 on Thursday. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 0.91 and a beta of 1.80. Lazard has a twelve month low of $41.34 and a twelve month high of $60.00. The company has a debt-to-equity ratio of 1.07, a current ratio of 1.78 and a quick ratio of 1.78.

Lazard (NYSE:LAZ) last announced its earnings results on Thursday, July 26th. The asset manager reported $1.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.18. The company had revenue of $741.00 million during the quarter, compared to the consensus estimate of $663.44 million. Lazard had a net margin of 11.58% and a return on equity of 47.49%. Lazard’s revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm earned $0.98 earnings per share. On average, equities analysts predict that Lazard will post 4.53 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Summit Trail Advisors LLC raised its holdings in shares of Lazard by 4,755.8% in the first quarter. Summit Trail Advisors LLC now owns 113,965 shares of the asset manager’s stock worth $114,000 after buying an additional 111,618 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Lazard in the second quarter worth $130,000. Contravisory Investment Management Inc. purchased a new position in shares of Lazard in the second quarter worth $134,000. Cerebellum GP LLC raised its holdings in shares of Lazard by 82.7% in the second quarter. Cerebellum GP LLC now owns 3,544 shares of the asset manager’s stock worth $173,000 after buying an additional 1,604 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Lazard in the second quarter worth $208,000. 71.91% of the stock is owned by institutional investors and hedge funds.

About Lazard

Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm worldwide. Its Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions and other strategic matters, restructurings, capital structure, capital raising, shareholder advisory, and various other financial matters.

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Analyst Recommendations for Lazard (NYSE:LAZ)

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