Lazard Ltd. (NYSE:LAZ) had its target price boosted by stock analysts at Nomura from $43.00 to $46.00 in a report released on Friday, November 3rd. The firm currently has a “neutral” rating on the asset manager’s stock. Nomura’s target price indicates a potential downside of 0.80% from the company’s current price.
A number of other research firms have also weighed in on LAZ. ValuEngine upgraded shares of Lazard from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 28th. Zacks Investment Research lowered shares of Lazard from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. BidaskClub upgraded shares of Lazard from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 31st. Finally, Buckingham Research lifted their price objective on shares of Lazard from $53.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $48.56.
Shares of Lazard (NYSE:LAZ) traded up $0.40 during mid-day trading on Friday, hitting $46.37. 97,357 shares of the stock traded hands, compared to its average volume of 630,719. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.09 and a current ratio of 2.09. Lazard has a 12 month low of $38.46 and a 12 month high of $48.86. The stock has a market cap of $6,020.00, a price-to-earnings ratio of 12.27, a P/E/G ratio of 1.55 and a beta of 1.89.
Lazard (NYSE:LAZ) last issued its quarterly earnings results on Thursday, October 26th. The asset manager reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.10. Lazard had a net margin of 17.16% and a return on equity of 38.81%. The company had revenue of $624.00 million during the quarter, compared to analyst estimates of $593.19 million. During the same quarter last year, the business posted $0.85 EPS. Lazard’s quarterly revenue was up 2.5% compared to the same quarter last year. equities research analysts anticipate that Lazard will post 3.52 earnings per share for the current fiscal year.
Lazard declared that its Board of Directors has approved a stock repurchase plan on Wednesday, October 25th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the asset manager to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Hosking Partners LLP increased its position in shares of Lazard by 1.6% during the second quarter. Hosking Partners LLP now owns 1,009,287 shares of the asset manager’s stock valued at $46,760,000 after buying an additional 16,205 shares during the period. Rhumbline Advisers increased its position in shares of Lazard by 2.2% during the second quarter. Rhumbline Advisers now owns 140,191 shares of the asset manager’s stock valued at $6,495,000 after buying an additional 2,977 shares during the period. LSV Asset Management increased its position in shares of Lazard by 560.2% during the second quarter. LSV Asset Management now owns 3,428,390 shares of the asset manager’s stock valued at $158,837,000 after buying an additional 2,909,090 shares during the period. Koch Industries Inc. purchased a new position in shares of Lazard during the second quarter valued at about $510,000. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Lazard by 9.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 704,174 shares of the asset manager’s stock valued at $32,625,000 after buying an additional 62,595 shares during the period. Institutional investors own 72.32% of the company’s stock.
Lazard Ltd (Lazard) is a financial advisory and asset management company. The Company operates through two segments: Financial Advisory and Asset Management. It serves a range of clients around the world, including corporations, governments, institutions, partnerships and individuals. The Financial Advisory business segment offers corporate, partnership, institutional, government, sovereign and individual clients across the globe 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 to corporate, partnership, institutional, government, sovereign and individual clients.
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