Lazard (LAZ) Price Target Cut to $52.00

Lazard (NYSE:LAZ) had its target price dropped by analysts at Buckingham Research from $64.00 to $52.00 in a research note issued on Friday. The brokerage presently has a “neutral” rating on the asset manager’s stock. Buckingham Research’s price objective would suggest a potential upside of 36.88% from the company’s previous close.

LAZ has been the topic of several other reports. Zacks Investment Research upgraded Lazard from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Tuesday, July 31st. ValuEngine cut Lazard from a “hold” rating to a “sell” rating in a report on Thursday, October 18th. Wolfe Research began coverage on Lazard in a report on Tuesday, September 25th. They issued a “market perform” rating on the stock. Finally, TheStreet cut Lazard from a “b” rating to a “c+” rating in a report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $60.00.

LAZ stock opened at $37.99 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.78 and a current ratio of 1.78. Lazard has a 12-month low of $37.75 and a 12-month high of $60.00. The stock has a market capitalization of $4.93 billion, a P/E ratio of 10.05, a PEG ratio of 0.96 and a beta of 1.80.



Lazard (NYSE:LAZ) last posted its quarterly earnings data on Thursday, October 25th. The asset manager reported $0.86 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.07). Lazard had a return on equity of 49.75% and a net margin of 11.49%. The firm had revenue of $605.61 million during the quarter. As a group, analysts expect that Lazard will post 4.36 earnings per share for the current year.

Several institutional investors have recently modified their holdings of LAZ. Dimensional Fund Advisors LP boosted its holdings in shares of Lazard by 0.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 827,214 shares of the asset manager’s stock worth $43,478,000 after purchasing an additional 5,587 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of Lazard by 22.1% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 17,725 shares of the asset manager’s stock worth $932,000 after purchasing an additional 3,204 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of Lazard by 13.5% during the 1st quarter. LPL Financial LLC now owns 32,174 shares of the asset manager’s stock worth $1,691,000 after purchasing an additional 3,826 shares during the last quarter. Guggenheim Capital LLC boosted its holdings in shares of Lazard by 212.4% during the 1st quarter. Guggenheim Capital LLC now owns 62,934 shares of the asset manager’s stock worth $3,309,000 after purchasing an additional 42,790 shares during the last quarter. Finally, Summit Trail Advisors LLC boosted its holdings in shares of Lazard by 4,755.8% during the 1st quarter. Summit Trail Advisors LLC now owns 113,965 shares of the asset manager’s stock worth $114,000 after purchasing an additional 111,618 shares during the last quarter. Institutional investors and hedge funds own 72.06% of the company’s stock.

About Lazard

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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Analyst Recommendations for Lazard (NYSE:LAZ)

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