Lazard (NYSE:LAZ) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Lazard (NYSE:LAZFree Report) from a hold rating to a buy rating in a report released on Friday.

LAZ has been the subject of a number of other reports. UBS Group boosted their target price on shares of Lazard from $31.00 to $40.00 and gave the company a neutral rating in a research note on Tuesday, January 9th. TheStreet lowered shares of Lazard from a c rating to a d+ rating in a research note on Tuesday, January 2nd. Morgan Stanley boosted their target price on shares of Lazard from $41.00 to $45.00 and gave the company an overweight rating in a research note on Friday, October 27th. Keefe, Bruyette & Woods reiterated an outperform rating and set a $51.00 target price on shares of Lazard in a research note on Monday, January 29th. Finally, Wolfe Research upgraded Lazard from a peer perform rating to an outperform rating and set a $42.00 price objective for the company in a research note on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $43.67.

View Our Latest Research Report on LAZ

Lazard Stock Performance

LAZ stock opened at $40.15 on Friday. The stock has a market capitalization of $4.53 billion, a PE ratio of -41.39 and a beta of 1.46. Lazard has a 12-month low of $25.82 and a 12-month high of $42.15. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 4.03. The stock’s 50 day simple moving average is $35.75 and its 200 day simple moving average is $32.91.

Lazard (NYSE:LAZGet Free Report) last released its quarterly earnings data on Thursday, February 1st. The asset manager reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.31. The business had revenue of $825.70 million for the quarter, compared to analysts’ expectations of $666.56 million. Lazard had a positive return on equity of 16.75% and a negative net margin of 2.93%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 EPS. As a group, research analysts forecast that Lazard will post 3.24 earnings per share for the current fiscal year.

Lazard Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Monday, February 12th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, February 9th. This represents a $2.00 annualized dividend and a dividend yield of 4.98%. Lazard’s dividend payout ratio (DPR) is -206.18%.

Institutional Investors Weigh In On Lazard

Institutional investors have recently bought and sold shares of the business. CENTRAL TRUST Co increased its stake in Lazard by 88.7% in the 3rd quarter. CENTRAL TRUST Co now owns 800 shares of the asset manager’s stock worth $25,000 after buying an additional 376 shares in the last quarter. Larson Financial Group LLC purchased a new stake in Lazard in the 3rd quarter worth $27,000. Parallel Advisors LLC increased its stake in Lazard by 130.1% in the 2nd quarter. Parallel Advisors LLC now owns 1,001 shares of the asset manager’s stock worth $32,000 after buying an additional 566 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Lazard in the 1st quarter worth $48,000. Finally, Tower Research Capital LLC TRC increased its stake in Lazard by 489.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,727 shares of the asset manager’s stock worth $55,000 after buying an additional 1,434 shares in the last quarter. Hedge funds and other institutional investors own 57.64% of the company’s stock.

Lazard Company Profile

(Get Free Report)

Lazard, Inc, together with its subsidiaries, operates as a financial advisory and asset management firm in North and South America, Europe, the Middle East, Asia, and Australia. It operates in two segments, Financial Advisory and Asset Management. The Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions, restructurings, capital advisory, shareholder advisory, capital raising, sovereign advisory, and other strategic advisory matters.

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Analyst Recommendations for Lazard (NYSE:LAZ)

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