UBS Group Has Lowered Expectations for Lazard (NYSE:LAZ) Stock Price

Key Points

• UBS cut Lazard's price target to $48 (from $59) and kept a "neutral" rating, implying roughly an 18.3% upside from the stock's then-current price.
• Lazard shares fell about 8.1% to $40.56 on heavy volume, trading well below its 50- and 200-day moving averages (≈$51.5) and closer to its 12-month low of $31.97.
• The firm beat Q4 estimates—EPS $0.80 vs $0.68 and revenue $892M vs $876M—but analysts remain mixed, with a consensus "Hold" and an average target price of $55.75.

Lazard (NYSE:LAZ - Get Free Report) had its price objective dropped by stock analysts at UBS Group from $59.00 to $48.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the asset manager's stock. UBS Group's price target suggests a potential upside of 18.33% from the stock's current price.

LAZ has been the topic of a number of other reports. Keefe, Bruyette & Woods increased their price target on Lazard from $59.00 to $62.00 and gave the stock an "outperform" rating in a research report on Friday, January 30th. Weiss Ratings restated a "hold (c)" rating on shares of Lazard in a research note on Monday, December 29th. Zacks Research raised Lazard from a "strong sell" rating to a "hold" rating in a research report on Friday, March 6th. Citigroup reissued a "market outperform" rating on shares of Lazard in a report on Friday, January 30th. Finally, Bank of America initiated coverage on shares of Lazard in a report on Monday, January 26th. They issued a "buy" rating and a $65.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Lazard has an average rating of "Hold" and a consensus target price of $55.75.

Lazard Stock Down 8.1%

Lazard stock traded down $3.60 during midday trading on Thursday, hitting $40.56. The stock had a trading volume of 2,324,347 shares, compared to its average volume of 1,300,068. The business has a fifty day moving average price of $51.47 and a 200 day moving average price of $51.56. Lazard has a 12 month low of $31.97 and a 12 month high of $58.75. The stock has a market cap of $4.53 billion, a P/E ratio of 18.61, a P/E/G ratio of 0.34 and a beta of 1.40. The company has a current ratio of 2.28, a quick ratio of 2.28 and a debt-to-equity ratio of 1.85.

Lazard (NYSE:LAZ - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The asset manager reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.12. The firm had revenue of $892.00 million for the quarter, compared to analysts' expectations of $876.32 million. Lazard had a return on equity of 33.04% and a net margin of 7.49%.The firm's revenue for the quarter was up 11.0% on a year-over-year basis. During the same period last year, the business posted $0.78 earnings per share. Research analysts predict that Lazard will post 4.24 EPS for the current year.

Institutional Investors Weigh In On Lazard

Several institutional investors have recently bought and sold shares of LAZ. Kestra Advisory Services LLC acquired a new position in Lazard during the 4th quarter valued at about $26,000. Sound Income Strategies LLC lifted its stake in shares of Lazard by 59.5% in 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. IFP Advisors Inc boosted its holdings in shares of Lazard by 53.5% in the third quarter. IFP Advisors Inc now owns 643 shares of the asset manager's stock valued at $34,000 after acquiring an additional 224 shares in the last quarter. Quest 10 Wealth Builders Inc. acquired a new position in shares of Lazard during the fourth quarter valued at approximately $32,000. Finally, Costello Asset Management INC acquired a new position in shares of Lazard during the third quarter valued at approximately $37,000. Institutional investors and hedge funds own 54.80% of the company's stock.

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.

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