Instinet Lowers Lazard Ltd. (LAZ) to Neutral

Instinet downgraded shares of Lazard Ltd. (NYSE:LAZ) from a buy rating to a neutral rating in a research report released on Friday morning. Instinet currently has $43.00 price target on the stock.

A number of other analysts have also commented on LAZ. Nomura reissued a buy rating and set a $47.00 price objective on shares of Lazard in a report on Wednesday, October 5th. Zacks Investment Research raised Lazard from a hold rating to a buy rating and set a $40.00 price objective for the company in a report on Wednesday, October 5th. Rafferty Capital Markets raised Lazard from a hold rating to a buy rating and set a $41.00 price objective for the company in a report on Thursday, October 27th. Credit Suisse Group initiated coverage on Lazard in a report on Sunday, November 20th. They set an outperform rating and a $42.00 price objective for the company. Finally, Bank of America Corporation initiated coverage on Lazard in a report on Wednesday, December 14th. They set an underperform rating and a $40.00 price objective for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. Lazard currently has a consensus rating of Hold and an average target price of $46.00.

Analyst Recommendations for Lazard (NYSE:LAZ)

Lazard (NYSE:LAZ) traded down 0.15% during mid-day trading on Friday, hitting $40.59. The stock had a trading volume of 254,522 shares. Lazard has a 1-year low of $26.21 and a 1-year high of $44.07. The firm’s 50-day moving average price is $41.40 and its 200-day moving average price is $36.85. The stock has a market cap of $5.00 billion, a PE ratio of 12.91 and a beta of 1.92.

Lazard (NYSE:LAZ) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.04. The firm earned $611 million during the quarter, compared to analyst estimates of $593.03 million. Lazard had a return on equity of 30.04% and a net margin of 18.29%. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.93 EPS. On average, equities analysts expect that Lazard will post $2.99 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: “Instinet Lowers Lazard Ltd. (LAZ) to Neutral” was first published by BBNS and is the propert of of BBNS. If you are accessing this piece of content on another website, it was stolen and reposted in violation of international copyright and trademark legislation. The correct version of this piece of content can be read at https://baseballnewssource.com/markets/instinet-lowers-lazard-ltd-laz-to-neutral/344648.html.

A number of institutional investors have recently bought and sold shares of LAZ. Advisor Group Inc. increased its position in Lazard by 0.3% in the third quarter. Advisor Group Inc. now owns 11,441 shares of the company’s stock valued at $395,000 after buying an additional 38 shares during the last quarter. IBM Retirement Fund increased its position in Lazard by 0.8% in the second quarter. IBM Retirement Fund now owns 12,870 shares of the company’s stock valued at $383,000 after buying an additional 100 shares during the last quarter. Osborn Rohs Williams & Donohoe Ltd increased its position in Lazard by 0.8% in the third quarter. Osborn Rohs Williams & Donohoe Ltd now owns 26,464 shares of the company’s stock valued at $962,000 after buying an additional 208 shares during the last quarter. Evanson Asset Management LLC increased its position in Lazard by 1.0% in the third quarter. Evanson Asset Management LLC now owns 22,490 shares of the company’s stock valued at $818,000 after buying an additional 229 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Lazard by 4.9% in the second quarter. Legal & General Group Plc now owns 8,273 shares of the company’s stock valued at $247,000 after buying an additional 384 shares during the last quarter. Institutional investors and hedge funds own 71.57% of the company’s stock.

Lazard Company Profile

Lazard Ltd (Lazard) is a financial advisory and asset management company. The Company operates in two business segments: Financial Advisory and Asset Management. The Financial Advisory business segment offers corporate, partnership, institutional, government, sovereign and individual clients a range of financial advisory services regarding mergers and acquisitions (M&A) and other strategic matters, restructurings, capital structure, capital raising and various other financial matters.

5 Day Chart for NYSE:LAZ

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

 

Latest News

Orioles Talking Contract with Slugger Jose Bautista
Orioles Talking Contract with Slugger Jose Bautista
Criticism During World Series Humorous to Joe Maddon
Criticism During World Series Humorous to Joe Maddon
Los Angeles Dodgers Awaiting Decision by Twins on Brian Dozier
Los Angeles Dodgers Awaiting Decision by Twins on Brian Dozier
Manny Ramirez Returning to Play Baseball in Japan
Manny Ramirez Returning to Play Baseball in Japan
Rajai Davis Anxious to Start Second Stint With Oakland
Rajai Davis Anxious to Start Second Stint With Oakland
Offseason Moves, Rumors and Possible Deals
Offseason Moves, Rumors and Possible Deals


Leave a Reply

 
© 2006-2017 BBNS.