Lazard (LAZ) Receives New Coverage from Analysts at Goldman Sachs Group

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Goldman Sachs Group started coverage on shares of Lazard (NYSE:LAZ) in a research report sent to investors on Tuesday morning, MarketBeat.com reports. The firm issued a neutral rating and a $46.00 target price on the asset manager’s stock.

A number of other analysts have also weighed in on LAZ. Zacks Investment Research lowered shares of Lazard from a hold rating to a sell rating in a research note on Sunday, July 15th. TheStreet lowered shares of Lazard from a b rating to a c+ rating in a research note on Friday, July 27th. Wolfe Research initiated coverage on shares of Lazard in a research note on Tuesday, September 25th. They set a market perform rating on the stock. ValuEngine lowered shares of Lazard from a hold rating to a sell rating in a research note on Thursday, October 18th. Finally, Buckingham Research cut their target price on shares of Lazard from $64.00 to $52.00 and set a neutral rating on the stock in a research note on Friday, October 26th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $57.75.

Shares of LAZ stock traded down $1.38 during trading hours on Tuesday, reaching $40.32. 625,757 shares of the stock were exchanged, compared to its average volume of 1,208,890. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.83 and a current ratio of 1.83. Lazard has a 12-month low of $37.75 and a 12-month high of $60.00. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 1.19 and a beta of 1.86.

Lazard (NYSE:LAZ) last released its earnings results on Thursday, October 25th. The asset manager reported $0.86 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.07). Lazard had a return on equity of 49.98% and a net margin of 11.49%. The firm had revenue of $605.61 million for the quarter. Equities analysts forecast that Lazard will post 4.26 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 16th. Shareholders of record on Monday, November 5th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, November 2nd. This represents a $1.76 annualized dividend and a yield of 4.37%. Lazard’s dividend payout ratio is currently 46.56%.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its stake in Lazard by 1.5% in the second quarter. BlackRock Inc. now owns 4,788,988 shares of the asset manager’s stock valued at $234,229,000 after purchasing an additional 71,463 shares during the last quarter. LSV Asset Management increased its stake in Lazard by 4.7% in the second quarter. LSV Asset Management now owns 4,073,240 shares of the asset manager’s stock valued at $199,222,000 after purchasing an additional 182,346 shares during the last quarter. FMR LLC increased its stake in Lazard by 1.5% in the second quarter. FMR LLC now owns 3,049,877 shares of the asset manager’s stock valued at $149,169,000 after purchasing an additional 44,224 shares during the last quarter. Jennison Associates LLC increased its stake in Lazard by 11.3% in the second quarter. Jennison Associates LLC now owns 2,027,504 shares of the asset manager’s stock valued at $99,165,000 after purchasing an additional 205,032 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in Lazard by 5.6% in the third quarter. Alliancebernstein L.P. now owns 1,890,440 shares of the asset manager’s stock valued at $90,987,000 after purchasing an additional 100,700 shares during the last quarter. Institutional investors own 71.59% of the company’s stock.

Lazard Company Profile

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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