Lazard (NYSE:LAZ) Sets New 52-Week Low at $30.72

Lazard Ltd (NYSE:LAZGet Rating) shares reached a new 52-week low during trading on Friday . The company traded as low as $30.72 and last traded at $31.06, with a volume of 1318010 shares trading hands. The stock had previously closed at $31.26.

LAZ has been the subject of a number of recent analyst reports. Wolfe Research cut shares of Lazard from a “peer perform” rating to an “underperform” rating and set a $39.00 price objective for the company. in a research report on Thursday, April 7th. JMP Securities lowered their price objective on shares of Lazard from $58.00 to $56.00 and set a “market outperform” rating for the company in a research report on Thursday, April 7th. Morgan Stanley cut shares of Lazard from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective for the company. in a research report on Tuesday, March 8th. StockNews.com cut shares of Lazard from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Piper Sandler lowered their price objective on shares of Lazard from $49.00 to $45.00 and set an “overweight” rating for the company in a research report on Thursday, April 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $45.33.

The company has a market cap of $3.26 billion, a P/E ratio of 6.32 and a beta of 1.43. The company has a fifty day moving average price of $33.92 and a two-hundred day moving average price of $37.70. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.75 and a current ratio of 1.75.

Lazard (NYSE:LAZGet Rating) last announced its quarterly earnings data on Thursday, April 28th. The asset manager reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.18. The company had revenue of $716.14 million during the quarter, compared to analysts’ expectations of $677.58 million. Lazard had a return on equity of 59.55% and a net margin of 16.76%. Lazard’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.87 EPS. Research analysts anticipate that Lazard Ltd will post 4.28 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, May 20th. Investors of record on Monday, May 9th were paid a $0.47 dividend. The ex-dividend date of this dividend was Friday, May 6th. This represents a $1.88 annualized dividend and a yield of 6.05%. Lazard’s dividend payout ratio (DPR) is currently 38.13%.

In related news, President Alexander F. Stern sold 70,000 shares of the firm’s stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $35.29, for a total value of $2,470,300.00. Following the completion of the sale, the president now directly owns 209,258 shares in the company, valued at approximately $7,384,714.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.86% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its stake in Lazard by 63.5% in the 1st quarter. Bank of America Corp DE now owns 105,599 shares of the asset manager’s stock valued at $3,643,000 after purchasing an additional 41,019 shares during the last quarter. Verition Fund Management LLC acquired a new stake in Lazard during the first quarter worth approximately $2,447,000. Walleye Capital LLC acquired a new stake in Lazard during the first quarter worth approximately $442,000. Toroso Investments LLC acquired a new stake in Lazard during the first quarter worth approximately $439,000. Finally, Strategic Wealth Partners Ltd. lifted its position in Lazard by 3.1% during the first quarter. Strategic Wealth Partners Ltd. now owns 55,119 shares of the asset manager’s stock worth $1,902,000 after acquiring an additional 1,655 shares during the last quarter.

Lazard Company Profile (NYSE:LAZ)

Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm in North America, Europe, Asia, Australia, and Central and South America. 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.

Further Reading

Want More Great Investing Ideas?

Receive News & Ratings for Lazard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lazard and related companies with MarketBeat.com's FREE daily email newsletter.