Lazard, Inc. (NYSE:LAZ) Receives $45.67 Consensus Target Price from Brokerages

Lazard, Inc. (NYSE:LAZGet Free Report) has received a consensus rating of “Moderate Buy” from the six analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $45.67.

Several research firms recently weighed in on LAZ. Morgan Stanley reissued an “overweight” rating and issued a $58.00 target price on shares of Lazard in a research note on Thursday, April 11th. TheStreet raised shares of Lazard from a “d+” rating to a “c+” rating in a research note on Monday, February 5th. StockNews.com raised shares of Lazard from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. UBS Group lifted their price objective on shares of Lazard from $43.00 to $44.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 26th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $49.00 price objective (down from $51.00) on shares of Lazard in a research report on Friday, April 26th.

Check Out Our Latest Research Report on LAZ

Insider Activity

In other news, CEO Evan L. Russo sold 75,000 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $39.35, for a total transaction of $2,951,250.00. Following the completion of the transaction, the chief executive officer now directly owns 227,448 shares in the company, valued at $8,950,078.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.86% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lazard

Several large investors have recently modified their holdings of LAZ. Allspring Global Investments Holdings LLC bought a new position in shares of Lazard during the first quarter worth about $25,000. Larson Financial Group LLC bought a new position in shares of Lazard during the third quarter worth about $27,000. SYSTM Wealth Solutions LLC bought a new position in shares of Lazard during the first quarter worth about $48,000. Headlands Technologies LLC bought a new position in shares of Lazard during the third quarter worth about $60,000. Finally, Delta Investment Management LLC bought a new position in shares of Lazard during the first quarter worth about $209,000. Institutional investors own 54.80% of the company’s stock.

Lazard Stock Performance

Shares of LAZ stock opened at $40.81 on Friday. The company has a debt-to-equity ratio of 4.13, a quick ratio of 1.89 and a current ratio of 1.89. The company has a market capitalization of $4.60 billion, a P/E ratio of -116.60 and a beta of 1.46. The company’s 50 day moving average price is $39.50 and its two-hundred day moving average price is $36.52. Lazard has a 52 week low of $25.82 and a 52 week high of $42.24.

Lazard (NYSE:LAZGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The asset manager reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.08. The company had revenue of $765.00 million during the quarter, compared to analysts’ expectations of $678.57 million. Lazard had a negative net margin of 0.63% and a positive return on equity of 37.27%. The business’s quarterly revenue was up 41.1% on a year-over-year basis. During the same period last year, the business earned ($0.26) EPS. On average, analysts expect that Lazard will post 3.03 earnings per share for the current fiscal year.

Lazard Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Shareholders of record on Monday, May 6th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.90%. The ex-dividend date was Friday, May 3rd. Lazard’s dividend payout ratio is presently -571.41%.

About Lazard

(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 financial advisory services, such as mergers and acquisitions, capital markets, shareholder, sovereign, geopolitical advisory, and other strategic advisory services, as well as restructuring and liability management, and capital raising and placement services.

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Analyst Recommendations for Lazard (NYSE:LAZ)

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