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

Shares of Lazard, Inc. (NYSE:LAZ) have earned a consensus rating of “Hold” from the twelve research firms that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $52.5556.

LAZ has been the topic of several research reports. The Goldman Sachs Group raised their price objective on Lazard from $40.00 to $45.00 and gave the company a “sell” rating in a research report on Tuesday, April 14th. Zacks Research lowered Lazard from a “hold” rating to a “strong sell” rating in a research report on Friday, April 10th. Citigroup reaffirmed an “outperform” rating on shares of Lazard in a research report on Friday, April 10th. UBS Group reaffirmed a “neutral” rating and set a $44.00 target price on shares of Lazard in a research report on Tuesday. Finally, Keefe, Bruyette & Woods lifted their target price on Lazard from $47.00 to $49.00 and gave the stock a “market perform” rating in a research report on Monday, May 4th.

Lazard Trading Down 12.8%

NYSE:LAZ opened at $41.27 on Friday. The business’s 50-day moving average is $46.58 and its two-hundred day moving average is $48.51. The company has a debt-to-equity ratio of 1.94, a current ratio of 3.51 and a quick ratio of 3.51. Lazard has a 12 month low of $38.67 and a 12 month high of $58.75. The firm has a market capitalization of $4.61 billion, a PE ratio of 16.31, a price-to-earnings-growth ratio of 0.51 and a beta of 1.41.

Lazard (NYSE:LAZ) last released its quarterly earnings data on Friday, May 1st. The asset manager reported $0.42 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.10). Lazard had a net margin of 8.47% and a return on equity of 29.30%. The company had revenue of $672.98 million during the quarter, compared to analysts’ expectations of $707.42 million. During the same period last year, the business earned $0.56 earnings per share. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. Research analysts predict that Lazard will post 2.85 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 22nd. Stockholders of record on Monday, May 11th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Monday, May 11th. Lazard’s payout ratio is presently 79.05%.

Insider Transactions at Lazard

In other news, CEO Christopher Hogbin sold 3,944 shares of Lazard stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $39.37, for a total transaction of $155,275.28. Following the sale, the chief executive officer directly owned 11,829 shares of the company’s stock, valued at approximately $465,707.73. The trade was a 25.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Peter Richard Orszag sold 69,170 shares of Lazard stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $40.76, for a total value of $2,819,369.20. Following the sale, the chief executive officer directly owned 210,942 shares in the company, valued at approximately $8,597,995.92. The trade was a 24.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 80,999 shares of company stock worth $3,292,962. Corporate insiders own 0.95% of the company’s stock.

Institutional Trading of Lazard

Hedge funds and other institutional investors have recently modified their holdings of the business. Kestra Advisory Services LLC purchased a new stake in shares of Lazard during the fourth quarter worth about $26,000. Sound Income Strategies LLC grew its stake in Lazard by 59.5% in the fourth quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock worth $31,000 after purchasing an additional 220 shares in the last quarter. Quest 10 Wealth Builders Inc. acquired a new position in Lazard in the fourth quarter worth about $32,000. IFP Advisors Inc grew its stake in Lazard by 53.5% in the third quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock worth $34,000 after purchasing an additional 224 shares in the last quarter. Finally, Costello Asset Management INC acquired a new position in Lazard in the third quarter worth about $37,000. 54.80% of the stock is owned by hedge funds and other institutional investors.

Lazard Company Profile

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.