Lazard Ltd. (NYSE:LAZ) had its price target lifted by Buckingham Research from $53.00 to $54.00 in a research report sent to investors on Friday, October 27th. They currently have a buy rating on the asset manager’s stock.
A number of other equities analysts have also weighed in on LAZ. ValuEngine raised shares of Lazard from a buy rating to a strong-buy rating in a research report on Friday, July 28th. Zacks Investment Research lowered shares of Lazard from a buy rating to a hold rating in a research report on Friday, July 28th. Finally, BidaskClub raised shares of Lazard from a buy rating to a strong-buy rating in a research report on Monday, July 31st. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $48.56.
Shares of Lazard (NYSE LAZ) traded up $0.40 on Friday, reaching $47.69. 322,800 shares of the company’s stock were exchanged, compared to its average volume of 831,912. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $6,136.64, a PE ratio of 12.48, a P/E/G ratio of 1.58 and a beta of 1.89. Lazard has a one year low of $38.46 and a one year high of $48.86.
Lazard (NYSE:LAZ) last announced its earnings results on Thursday, October 26th. The asset manager reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.10. The company had revenue of $624.00 million during the quarter, compared to analysts’ expectations of $593.19 million. Lazard had a net margin of 17.16% and a return on equity of 38.81%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 earnings per share. research analysts predict that Lazard will post 3.52 earnings per share for the current fiscal year.
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Lazard announced that its board has initiated a share repurchase plan on Wednesday, October 25th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the asset manager to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Monday, November 6th will be issued a $0.41 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 3.44%. Lazard’s payout ratio is 46.86%.
A number of institutional investors have recently added to or reduced their stakes in LAZ. PNC Financial Services Group Inc. grew its holdings in Lazard by 9.0% in the second quarter. PNC Financial Services Group Inc. now owns 3,701 shares of the asset manager’s stock valued at $172,000 after purchasing an additional 306 shares during the period. JFS Wealth Advisors LLC grew its stake in Lazard by 1,759.2% during the second quarter. JFS Wealth Advisors LLC now owns 3,830 shares of the asset manager’s stock worth $177,000 after buying an additional 3,624 shares during the period. SG Americas Securities LLC purchased a new stake in Lazard during the second quarter worth approximately $179,000. Pinnacle Financial Partners Inc. purchased a new stake in Lazard during the second quarter worth approximately $206,000. Finally, Ballentine Partners LLC purchased a new stake in Lazard during the second quarter worth approximately $216,000. Hedge funds and other institutional investors own 72.32% of the company’s stock.
Lazard Company Profile
Lazard Ltd (Lazard) is a financial advisory and asset management company. The Company operates through two segments: Financial Advisory and Asset Management. It serves a range of clients around the world, including corporations, governments, institutions, partnerships and individuals. The Financial Advisory business segment offers corporate, partnership, institutional, government, sovereign and individual clients across the globe a range of financial advisory services regarding mergers and acquisitions (M&A) and other strategic matters, restructurings, capital structure, capital raising and various other financial matters to corporate, partnership, institutional, government, sovereign and individual clients.
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