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

Lazard, Inc. (NYSE:LAZ) has earned a consensus recommendation of “Hold” from the eleven research firms that are covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $52.50.

A number of research firms have recently weighed in on LAZ. Zacks Research downgraded shares of Lazard from a “hold” rating to a “strong sell” rating in a research report on Friday, April 10th. Citigroup reiterated an “outperform” rating on shares of Lazard in a research note on Friday, April 10th. The Goldman Sachs Group increased their price objective on Lazard from $40.00 to $45.00 and gave the company a “sell” rating in a report on Tuesday, April 14th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $47.00 target price (down from $62.00) on shares of Lazard in a research report on Wednesday, April 8th. Finally, Morgan Stanley lowered their target price on Lazard from $59.00 to $52.00 and set an “underweight” rating on the stock in a research note on Thursday, April 9th.

Lazard Price Performance

Shares of NYSE:LAZ opened at $46.98 on Friday. The company has a market capitalization of $5.25 billion, a P/E ratio of 21.55, a price-to-earnings-growth ratio of 0.41 and a beta of 1.42. The company’s 50-day moving average is $45.62 and its 200 day moving average is $49.01. The company has a debt-to-equity ratio of 1.85, a quick ratio of 2.28 and a current ratio of 2.28. Lazard has a fifty-two week low of $37.37 and a fifty-two week high of $58.75.

Lazard (NYSE:LAZ) last posted its quarterly earnings data on Friday, January 30th. The asset manager reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.12. The business had revenue of $892.11 million during the quarter, compared to the consensus estimate of $876.32 million. Lazard had a net margin of 7.49% and a return on equity of 33.04%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.78 earnings per share. On average, equities research analysts forecast that Lazard will post 3.46 earnings per share for the current year.

Lazard Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Monday, February 9th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $2.00 annualized dividend and a yield of 4.3%. Lazard’s dividend payout ratio (DPR) is 91.74%.

Insider Transactions at Lazard

In other Lazard news, CEO Peter Richard Orszag sold 69,170 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $40.76, for a total transaction of $2,819,369.20. Following the completion of the transaction, the chief executive officer owned 210,942 shares in the company, valued at $8,597,995.92. This trade represents a 24.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 completion of the transaction, the chief executive officer owned 11,829 shares of the company’s stock, valued at $465,707.73. The trade was a 25.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 80,999 shares of company stock worth $3,292,962 over the last 90 days. 0.95% of the stock is currently owned by company insiders.

Institutional Trading of Lazard

A number of institutional investors have recently modified their holdings of LAZ. Teza Capital Management LLC raised its holdings in Lazard by 2.4% during the 2nd quarter. Teza Capital Management LLC now owns 8,059 shares of the asset manager’s stock valued at $387,000 after acquiring an additional 187 shares during the period. Lesa Sroufe & Co grew its position in shares of Lazard by 0.4% in the third quarter. Lesa Sroufe & Co now owns 52,836 shares of the asset manager’s stock valued at $2,789,000 after purchasing an additional 217 shares in the last quarter. Sound Income Strategies LLC grew its position in shares of Lazard by 59.5% in the fourth quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 220 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Lazard by 53.5% during the 3rd quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock valued at $34,000 after purchasing an additional 224 shares during the period. Finally, Xponance LLC raised its stake in shares of Lazard by 3.7% during the 4th quarter. Xponance LLC now owns 6,454 shares of the asset manager’s stock valued at $313,000 after purchasing an additional 232 shares during the period. 54.80% of the stock is currently owned by hedge funds and other institutional investors.

About Lazard

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.