Lazard, Inc. (NYSE:LAZ) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Lazard has a consensus “Hold” rating from 11 analysts: four buys, four holds, and three sells. The average 12-month price target is $50.38, compared with the stock’s recent price of $41.15.
• Lazard’s latest quarterly earnings missed expectations, with EPS of $0.12 versus the $0.34 consensus estimate, although revenue rose 1.5% year over year to $786.47 million.
• The company paid a quarterly dividend of $0.50, equivalent to a 4.9% annualized yield, while CEO Peter Orszag sold 125,000 shares worth approximately $5.44 million under a pre-arranged trading plan.

Lazard, Inc. (NYSE:LAZ - Get Free Report) has been given an average rating of "Hold" by the eleven ratings firms that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $50.3750.

A number of equities analysts recently issued reports on LAZ shares. Weiss Ratings cut shares of Lazard from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, July 29th. Citigroup reaffirmed a "market outperform" rating on shares of Lazard in a report on Friday, July 24th. Morgan Stanley set a $44.00 target price on shares of Lazard in a research note on Friday, July 24th. Keefe, Bruyette & Woods cut their price target on shares of Lazard from $44.00 to $42.00 and set a "market perform" rating on the stock in a report on Friday, July 24th. Finally, UBS Group reissued a "neutral" rating and set a $44.00 price target on shares of Lazard in a research report on Tuesday, June 9th.

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 stock was sold at an average price of $43.52, for a total value of $5,440,000.00. Following the completion of the sale, the chief executive officer owned 260,942 shares of the company's stock, valued at approximately $11,356,195.84. This trade represents a 32.39% decrease in their position. The transaction was disclosed in a document filed 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 Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Kestra Advisory Services LLC bought a new stake in Lazard in the 4th quarter worth about $26,000. IFP Advisors Inc lifted 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 acquiring an additional 224 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Lazard during the 2nd quarter valued at about $36,000. State of Wyoming purchased a new stake in shares of Lazard during the 2nd quarter valued at about $38,000. Finally, Compass Financial Management LLC purchased a new stake in shares of Lazard during the 2nd quarter valued at about $41,000. 54.80% of the stock is owned by institutional investors.

Lazard Stock Performance

Shares of LAZ opened at $41.15 on Monday. The company has a quick ratio of 2.84, a current ratio of 2.84 and a debt-to-equity ratio of 1.87. The stock has a market cap of $4.55 billion, a P/E ratio of 20.17, a P/E/G ratio of 1.12 and a beta of 1.43. The business's 50 day moving average price is $43.23 and its 200-day moving average price is $44.43. Lazard has a 52 week low of $38.67 and a 52 week high of $58.75.

Lazard (NYSE:LAZ - Get Free Report) last posted its quarterly earnings data on Friday, July 24th. The asset manager reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.34 by ($0.22). The company had revenue of $786.47 million for the quarter, compared to the consensus estimate of $736.29 million. Lazard had a net margin of 6.95% and a return on equity of 23.58%. The firm's quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the business earned $0.52 EPS. Equities research analysts anticipate that Lazard will post 2.18 earnings per share for the current fiscal year.

Lazard Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, August 3rd. This represents a $2.00 annualized dividend and a yield of 4.9%. Lazard's dividend payout ratio is 98.04%.

Lazard Company Profile

Lazard Ltd. NYSE: LAZ is a global financial advisory and asset management firm. The company provides advice on mergers and acquisitions, capital structure, restructuring, strategic matters and other corporate finance activities. Lazard also offers asset management services for institutions, financial intermediaries, private clients and other investors.

Lazard traces its origins to 1848, when the Lazard brothers established a business in New Orleans. The firm later expanded to San Francisco and Paris, developing an international platform that serves clients across North America, Europe, Asia-Pacific and other key global markets.

The company operates through financial advisory and asset management businesses, with teams serving corporations, governments, institutions and high-net-worth individuals.

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