Lazard (NYSE:LAZ) had its target price decreased by Buckingham Research from $45.00 to $41.00 in a report issued on Thursday morning, BenzingaRatingsTable reports. Buckingham Research currently has a neutral rating on the asset manager’s stock.
Several other analysts have also weighed in on the stock. Bank of America set a $7.00 price objective on shares of Deutsche Bank and gave the company a sell rating in a research note on Thursday, April 11th. UBS Group upgraded shares of China Unicom (Hong Kong) from a neutral rating to a buy rating in a research note on Monday, June 10th. Finally, Zacks Investment Research upgraded shares of Triple-S Management from a hold rating to a buy rating and set a $26.00 price objective for the company in a research note on Monday, April 29th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. Lazard presently has an average rating of Hold and an average target price of $43.50.
Lazard stock opened at $35.62 on Thursday. The stock’s 50 day moving average price is $34.10. The company has a market cap of $4.62 billion, a price-to-earnings ratio of 9.45, a price-to-earnings-growth ratio of 3.52 and a beta of 1.67. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 2.28. Lazard has a 52-week low of $31.07 and a 52-week high of $54.64.
Lazard (NYSE:LAZ) last released its quarterly earnings data on Thursday, April 25th. The asset manager reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.29. The company had revenue of $620.00 million during the quarter, compared to analyst estimates of $598.66 million. Lazard had a net margin of 16.72% and a return on equity of 48.17%. Lazard’s revenue for the quarter was down 14.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.26 EPS. Equities research analysts expect that Lazard will post 3.71 EPS for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the company. Hudson Capital Management LLC boosted its holdings in shares of Lazard by 16.2% in the 2nd quarter. Hudson Capital Management LLC now owns 40,533 shares of the asset manager’s stock worth $1,394,000 after buying an additional 5,636 shares during the last quarter. Xact Kapitalforvaltning AB boosted its holdings in shares of Lazard by 112.5% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 22,100 shares of the asset manager’s stock worth $760,000 after buying an additional 11,700 shares during the last quarter. Gofen & Glossberg LLC IL boosted its holdings in shares of Lazard by 1.3% in the 2nd quarter. Gofen & Glossberg LLC IL now owns 32,021 shares of the asset manager’s stock worth $1,101,000 after buying an additional 400 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Lazard by 50.4% in the 1st quarter. First Trust Advisors LP now owns 174,111 shares of the asset manager’s stock worth $6,292,000 after buying an additional 58,375 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Lazard by 94.8% in the 1st quarter. FMR LLC now owns 5,015,114 shares of the asset manager’s stock worth $181,247,000 after buying an additional 2,440,822 shares during the last quarter. Institutional investors own 65.59% of the company’s stock.
Lazard Company Profile
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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