A number of other research analysts have also weighed in on the company. Zacks Investment Research raised Lazard from a hold rating to a buy rating and set a $67.00 target price on the stock in a report on Monday. JMP Securities boosted their target price on Lazard from $63.00 to $65.00 and gave the stock a market outperform rating in a report on Friday. Nomura boosted their target price on Lazard from $62.00 to $67.00 and gave the stock a buy rating in a report on Friday. Keefe, Bruyette & Woods reissued a buy rating and set a $67.00 target price on shares of Lazard in a report on Thursday, February 1st. Finally, Sandler O’Neill reissued a buy rating and set a $64.00 target price on shares of Lazard in a report on Thursday, January 11th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $60.56.
Lazard (NYSE:LAZ) opened at $56.66 on Friday. The firm has a market capitalization of $7,542.00, a P/E ratio of 30.79, a price-to-earnings-growth ratio of 1.38 and a beta of 1.84. Lazard has a 1 year low of $40.50 and a 1 year high of $60.00. 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 (NYSE:LAZ) last posted its earnings results on Thursday, February 1st. The asset manager reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.20. The business had revenue of $683.00 million for the quarter, compared to analyst estimates of $658.86 million. Lazard had a return on equity of 38.66% and a net margin of 9.40%. The firm’s revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.13 EPS. sell-side analysts forecast that Lazard will post 3.99 earnings per share for the current fiscal year.
Lazard declared that its Board of Directors has approved a share repurchase plan on Wednesday, October 25th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the asset manager to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Monday, February 12th will be issued a $0.116 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Friday, February 9th. Lazard’s dividend payout ratio is 89.13%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. LSV Asset Management grew its holdings in Lazard by 2.4% in the 4th quarter. LSV Asset Management now owns 3,839,794 shares of the asset manager’s stock valued at $201,589,000 after buying an additional 91,021 shares in the last quarter. Strs Ohio grew its holdings in Lazard by 13.1% in the 4th quarter. Strs Ohio now owns 1,680,000 shares of the asset manager’s stock valued at $88,200,000 after buying an additional 194,000 shares in the last quarter. Public Employees Retirement Association of Colorado grew its holdings in Lazard by 2.6% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,673,954 shares of the asset manager’s stock valued at $87,883,000 after buying an additional 42,381 shares in the last quarter. FMR LLC grew its holdings in Lazard by 35.2% in the 2nd quarter. FMR LLC now owns 1,647,335 shares of the asset manager’s stock valued at $76,322,000 after buying an additional 429,046 shares in the last quarter. Finally, Hosking Partners LLP grew its holdings in Lazard by 0.5% in the 3rd quarter. Hosking Partners LLP now owns 1,013,954 shares of the asset manager’s stock valued at $45,851,000 after buying an additional 4,667 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.
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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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