Brokerages Set Lazard Ltd (LAZ) Price Target at $53.89

Lazard Ltd (NYSE:LAZ) has received a consensus rating of “Buy” from the thirteen ratings firms that are currently covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $53.89.

LAZ has been the topic of several analyst reports. ValuEngine lowered shares of Lazard from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 3rd. Buckingham Research upped their target price on shares of Lazard from $53.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Sandler O’Neill reaffirmed a “buy” rating and issued a $64.00 target price on shares of Lazard in a report on Thursday, January 11th. Goldman Sachs Group raised shares of Lazard from a “neutral” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Monday, January 8th. Finally, Nomura raised shares of Lazard from a “neutral” rating to a “buy” rating and upped their target price for the stock from $46.00 to $62.00 in a report on Wednesday, January 3rd.

A number of large investors have recently modified their holdings of LAZ. Vanguard Group Inc. grew its holdings in Lazard by 7.4% during the 2nd quarter. Vanguard Group Inc. now owns 10,967,499 shares of the asset manager’s stock worth $508,124,000 after acquiring an additional 750,941 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in Lazard by 2,608.0% during the 2nd quarter. Lord Abbett & CO. LLC now owns 777,200 shares of the asset manager’s stock worth $36,008,000 after acquiring an additional 748,500 shares during the last quarter. Koch Industries Inc. bought a new stake in Lazard during the 2nd quarter worth about $510,000. FMR LLC grew its holdings in Lazard by 35.2% during the 2nd quarter. FMR LLC now owns 1,647,335 shares of the asset manager’s stock worth $76,322,000 after acquiring an additional 429,046 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Lazard by 71.5% during the 3rd quarter. Principal Financial Group Inc. now owns 971,137 shares of the asset manager’s stock worth $43,915,000 after acquiring an additional 405,016 shares during the last quarter. 73.47% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Lazard (NYSE LAZ) traded down $0.33 during mid-day trading on Monday, hitting $56.53. 547,630 shares of the stock were exchanged, compared to its average volume of 727,075. Lazard has a 52 week low of $40.37 and a 52 week high of $58.42. The firm has a market cap of $7,300.00, a PE ratio of 15.79, a price-to-earnings-growth ratio of 1.37 and a beta of 1.89. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.87.

Lazard (NYSE:LAZ) last announced its quarterly earnings data on Thursday, October 26th. The asset manager reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.10. Lazard had a net margin of 17.16% and a return on equity of 38.81%. The company had revenue of $624.00 million during the quarter, compared to analysts’ expectations of $593.19 million. During the same quarter in the prior year, the company posted $0.85 EPS. The business’s revenue was up 2.5% on a year-over-year basis. research analysts forecast that Lazard will post 3.57 EPS for the current year.

Lazard announced that its Board of Directors has approved a share repurchase program on Wednesday, October 25th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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Lazard Company Profile

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.

Analyst Recommendations for Lazard (NYSE:LAZ)

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