Lazard (NYSE:LAZ) Given New $62.00 Price Target at Keefe, Bruyette & Woods

Lazard (NYSE:LAZ) had its price target raised by analysts at Keefe, Bruyette & Woods from $59.00 to $62.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 15.66% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Citigroup reissued a “market outperform” rating on shares of Lazard in a report on Friday. Zacks Research cut Lazard from a “hold” rating to a “strong sell” rating in a research note on Monday, January 12th. Weiss Ratings restated a “hold (c)” rating on shares of Lazard in a report on Monday, December 29th. Morgan Stanley decreased their target price on shares of Lazard from $61.00 to $59.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 6th. Finally, Bank of America assumed coverage on shares of Lazard in a report on Monday. They issued a “buy” rating and a $65.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Lazard presently has a consensus rating of “Hold” and an average price target of $57.13.

Lazard Price Performance

Shares of LAZ traded down $0.18 during trading hours on Friday, reaching $53.61. 149,856 shares of the company’s stock traded hands, compared to its average volume of 1,035,450. Lazard has a 12 month low of $31.97 and a 12 month high of $58.07. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 1.92. The stock has a market cap of $6.04 billion, a PE ratio of 21.17 and a beta of 1.38. The firm’s 50 day simple moving average is $51.10 and its 200-day simple moving average is $52.01.

Lazard (NYSE:LAZ) last posted its quarterly earnings data on Thursday, January 29th. The asset manager reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.12. Lazard had a net margin of 8.89% and a return on equity of 35.02%. The company had revenue of $892.00 million for the quarter, compared to analysts’ expectations of $876.32 million. During the same period in the prior year, the business earned $0.78 earnings per share. Lazard’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities analysts expect that Lazard will post 4.24 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LAZ. Vanguard Group Inc. boosted its position in shares of Lazard by 2.2% during the third quarter. Vanguard Group Inc. now owns 11,180,752 shares of the asset manager’s stock valued at $590,120,000 after purchasing an additional 245,205 shares in the last quarter. Ariel Investments LLC boosted its stake in Lazard by 2.4% during the second quarter. Ariel Investments LLC now owns 5,753,997 shares of the asset manager’s stock worth $276,077,000 after acquiring an additional 134,717 shares in the last quarter. State Street Corp grew its holdings in Lazard by 9.3% in the second quarter. State Street Corp now owns 2,108,229 shares of the asset manager’s stock worth $101,153,000 after purchasing an additional 180,244 shares during the period. Ameriprise Financial Inc. grew its holdings in Lazard by 11.3% in the third quarter. Ameriprise Financial Inc. now owns 1,884,093 shares of the asset manager’s stock worth $99,442,000 after purchasing an additional 192,008 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Lazard by 1.2% during the third quarter. Fisher Asset Management LLC now owns 1,722,504 shares of the asset manager’s stock valued at $90,914,000 after purchasing an additional 20,591 shares in the last quarter. Hedge funds and other institutional investors own 54.80% of the company’s stock.

Trending Headlines about Lazard

Here are the key news stories impacting Lazard this week:

• Positive Sentiment: Quarterly beat: LAZ reported EPS of $0.80 vs. consensus $0.68 and adjusted net revenue of $892M vs. ~ $876M consensus; revenue rose 11% YoY — a clear short-term catalyst for upside. Zacks: Lazard Beats Q4
• Positive Sentiment: Business momentum: Management highlighted stronger dealmaking in Financial Advisory and record full-year Financial Advisory adjusted net revenue; Asset Management saw record inflows and AUM up ~12% — supports recurring fee growth and higher revenues. PR Newswire: Q4 & Full-Year Results
• Positive Sentiment: Shareholder return & liquidity signal: Board declared a $0.50 quarterly dividend (yield ~3.7%), with an upcoming ex-dividend date — supports income-oriented investor interest. PR Newswire: Dividend
• Neutral Sentiment: Management commentary and disclosure: CEO Peter Orszag and the earnings call/transcripts provided color on quarter drivers; slide deck and call are available for deeper diligence but offered no new long-term guidance. Earnings Call Transcript
• Neutral Sentiment: Leadership change: Tracy Farr will become CFO effective Feb 1 — experienced hire that reduces execution risk, but the market typically waits to see early results. PR Newswire: CFO Appointment
• Negative Sentiment: Limited margin of EPS improvement: EPS was only slightly above prior-year quarter ($0.80 vs. $0.78) — while beats matter, investors may want sustained EPS acceleration and clearer forward guidance to justify higher multiples. MarketBeat: Earnings Snapshot

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.