Lazard (LAZ) Stock Price Down 3.4%

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Shares of Lazard Ltd (NYSE:LAZ) traded down 3.4% during mid-day trading on Thursday . The company traded as low as $43.75 and last traded at $42.56. 46,461 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 748,945 shares. The stock had previously closed at $44.04.

A number of analysts have issued reports on the company. Zacks Investment Research raised Lazard from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a research note on Tuesday, July 31st. TheStreet downgraded Lazard from a “b” rating to a “c+” rating in a research report on Friday, July 27th. Finally, Wolfe Research started coverage on Lazard in a research report on Tuesday, September 25th. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $60.25.

The stock has a market cap of $6.25 billion, a price-to-earnings ratio of 11.33, a P/E/G ratio of 1.00 and a beta of 1.80. 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 released 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 firm had revenue of $741.00 million for the quarter, compared to the consensus estimate of $663.44 million. Lazard had a return on equity of 47.49% and a net margin of 11.58%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS. As a group, equities analysts anticipate that Lazard Ltd will post 4.58 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its holdings in Lazard by 26.7% during the 3rd quarter. Bank of Montreal Can now owns 547,413 shares of the asset manager’s stock valued at $26,347,000 after acquiring an additional 115,524 shares during the period. Gofen & Glossberg LLC IL boosted its holdings in Lazard by 10.8% during the 3rd quarter. Gofen & Glossberg LLC IL now owns 35,521 shares of the asset manager’s stock valued at $1,710,000 after acquiring an additional 3,455 shares during the period. Northern Trust Corp boosted its holdings in Lazard by 2.1% during the 2nd quarter. Northern Trust Corp now owns 552,642 shares of the asset manager’s stock valued at $27,030,000 after acquiring an additional 11,231 shares during the period. Moody Aldrich Partners LLC purchased a new position in Lazard during the 2nd quarter valued at $100,510,000. Finally, FMR LLC boosted its holdings in Lazard by 1.5% during the 2nd quarter. FMR LLC now owns 3,049,877 shares of the asset manager’s stock valued at $149,169,000 after acquiring an additional 44,224 shares during the period. 71.94% of the stock is currently owned by hedge funds and other institutional investors.

Lazard Company Profile (NYSE:LAZ)

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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