Lazard, Inc. (NYSE:LAZ) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Lazard, Inc. (NYSE:LAZ) have been assigned an average rating of “Hold” from the eleven brokerages that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $50.3750.

Several equities research analysts recently issued reports on the company. Zacks Research downgraded Lazard from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 4th. Weiss Ratings cut Lazard from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, July 29th. Citigroup reiterated a “market outperform” rating on shares of Lazard in a research note on Friday, July 24th. The Goldman Sachs Group reiterated a “sell” rating on shares of Lazard in a research note on Thursday, July 23rd. Finally, Argus lowered their target price on shares of Lazard from $63.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, May 5th.

Lazard Price Performance

LAZ stock opened at $42.84 on Thursday. The company has a market capitalization of $4.74 billion, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 0.92 and a beta of 1.43. The company has a debt-to-equity ratio of 1.87, a quick ratio of 2.84 and a current ratio of 2.84. Lazard has a 52-week low of $38.67 and a 52-week high of $58.75. The business has a 50-day simple moving average of $42.89 and a two-hundred day simple moving average of $45.26.

Lazard (NYSE:LAZ) last issued its quarterly earnings data on Friday, July 24th. The asset manager reported $0.12 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.22). Lazard had a return on equity of 23.58% and a net margin of 6.95%.The company had revenue of $786.47 million during the quarter, compared to analysts’ expectations of $736.29 million. During the same period last year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. Research analysts expect that Lazard will post 2.18 EPS for the current fiscal year.

Lazard Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Monday, August 3rd were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Monday, August 3rd. Lazard’s dividend payout ratio is presently 98.04%.

Insider Buying and Selling

In other Lazard news, CEO Peter Richard Orszag sold 125,000 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $43.52, for a total value of $5,440,000.00. Following the completion of the sale, the chief executive officer owned 260,942 shares in the company, valued at approximately $11,356,195.84. This trade represents a 32.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.95% of the company’s stock.

Hedge Funds Weigh In On Lazard

Several institutional investors have recently modified their holdings of LAZ. Kestra Advisory Services LLC purchased a new stake in shares of Lazard during the fourth quarter valued at approximately $26,000. Quest 10 Wealth Builders Inc. bought a new position in Lazard in the 4th quarter valued at $32,000. IFP Advisors Inc grew its stake in Lazard by 53.5% in the 3rd quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 224 shares during the period. State of Wyoming bought a new position in Lazard in the 2nd quarter valued at $38,000. Finally, Compass Financial Management LLC purchased a new stake in shares of Lazard during the 2nd quarter valued at $41,000. 54.80% of the stock is owned by institutional investors.

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.