Lazard (NYSE:LAZ) Stock Lifted to Hold by Zacks Research

Zacks Research upgraded shares of Lazard (NYSE:LAZ) from a strong sell rating to a hold rating in a research report released on Monday,Zacks reports.

Other research analysts also recently issued reports about the stock. Citigroup restated a “market outperform” rating on shares of Lazard in a research report on Friday, July 24th. The Goldman Sachs Group reissued a “sell” rating on shares of Lazard in a research note on Thursday, July 23rd. Morgan Stanley set a $44.00 price objective on shares of Lazard in a report on Friday, July 24th. UBS Group restated a “neutral” rating and issued a $44.00 price objective on shares of Lazard in a report on Tuesday, June 9th. Finally, Weiss Ratings cut shares of Lazard from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, July 29th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $50.38.

Lazard Stock Up 0.1%

Shares of LAZ opened at $35.81 on Monday. The business’s fifty day moving average price is $41.83 and its two-hundred day moving average price is $43.48. The firm has a market capitalization of $3.96 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 0.97 and a beta of 1.43. Lazard has a 52 week low of $35.16 and a 52 week high of $58.75. The company has a debt-to-equity ratio of 1.87, a quick ratio of 2.84 and a current ratio of 2.84.

Lazard (NYSE:LAZ) last issued its quarterly earnings results on Friday, July 24th. The asset manager reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.22). The firm had revenue of $786.47 million for the quarter, compared to analyst estimates of $736.29 million. Lazard had a net margin of 6.95% and a return on equity of 23.58%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company earned $0.52 EPS. On average, analysts predict that Lazard will post 2.18 earnings per share for the current year.

Lazard Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Monday, August 3rd were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Monday, August 3rd. Lazard’s dividend payout ratio (DPR) is currently 98.04%.

Insider Buying and Selling at Lazard

In related news, CEO Peter Orszag sold 125,000 shares of Lazard stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $43.52, for a total transaction of $5,440,000.00. Following the transaction, the chief executive officer owned 260,942 shares of the company’s stock, valued at $11,356,195.84. This trade represents a 32.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lazard

Large investors have recently bought and sold shares of the company. Integrated Wealth Concepts LLC acquired a new stake in Lazard during the 2nd quarter worth $36,000. Compass Financial Management LLC acquired a new position in Lazard in the second quarter valued at about $41,000. Allworth Financial LP bought a new stake in shares of Lazard in the second quarter worth about $42,000. Nykredit A S bought a new stake in shares of Lazard in the second quarter worth about $87,000. Finally, Axiom Investment Management LLC acquired a new stake in shares of Lazard during the first quarter worth about $89,000. Institutional investors own 54.80% of the company’s stock.

Lazard Company Profile

Lazard Ltd. (NYSE: LAZ) is a global financial advisory and asset management firm. The company provides advice on mergers and acquisitions, capital structure, restructuring, strategic matters and other corporate finance activities. Lazard also offers asset management services for institutions, financial intermediaries, private clients and other investors.

Lazard traces its origins to 1848, when the Lazard brothers established a business in New Orleans. The firm later expanded to San Francisco and Paris, developing an international platform that serves clients across North America, Europe, Asia-Pacific and other key global markets.

The company operates through financial advisory and asset management businesses, with teams serving corporations, governments, institutions and high-net-worth individuals.