Lazard Ltd (NYSE:LAZ) dropped 3.4% on Thursday . The stock traded as low as $43.75 and last traded at $42.56. Approximately 46,461 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 748,945 shares. The stock had previously closed at $44.04.
LAZ has been the subject of several research reports. Zacks Investment Research cut Lazard from a “buy” rating to a “hold” rating in a report on Wednesday, September 26th. TheStreet cut Lazard from a “b” rating to a “c+” rating in a report on Friday, July 27th. Finally, Wolfe Research initiated coverage on Lazard in a report on Tuesday, September 25th. They issued a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $60.25.
The firm has a market capitalization of $6.25 billion, a price-to-earnings ratio of 11.33, a price-to-earnings-growth ratio of 1.00 and a beta of 1.80. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.07.
Lazard (NYSE:LAZ) last issued its quarterly earnings data on Thursday, July 26th. The asset manager reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.18. The firm had revenue of $741.00 million during the quarter, compared to analysts’ expectations of $663.44 million. Lazard had a return on equity of 47.49% and a net margin of 11.58%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 EPS. Analysts expect that Lazard Ltd will post 4.58 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Moody Aldrich Partners LLC purchased a new stake in shares of Lazard during the 2nd quarter worth $100,510,000. SG Americas Securities LLC purchased a new stake in shares of Lazard during the 2nd quarter worth $130,000. Contravisory Investment Management Inc. purchased a new stake in shares of Lazard during the 2nd quarter worth $134,000. Cerebellum GP LLC lifted its stake in shares of Lazard by 82.7% during the 2nd quarter. Cerebellum GP LLC now owns 3,544 shares of the asset manager’s stock worth $173,000 after purchasing an additional 1,604 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Lazard during the 2nd quarter worth $208,000. Hedge funds and other institutional investors own 71.94% of the company’s stock.
About Lazard (NYSE:LAZ)
Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm worldwide. Its Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions and other strategic matters, restructurings, capital structure, capital raising, shareholder advisory, and various other financial matters.
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