Lazard (NYSE:LAZ) Downgraded by The Goldman Sachs Group to Sell

Lazard (NYSE:LAZGet Free Report) was downgraded by stock analysts at The Goldman Sachs Group from a “neutral” rating to a “sell” rating in a research report issued on Tuesday, FlyOnTheWall reports.

A number of other equities research analysts have also commented on the company. Morgan Stanley raised Lazard from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $36.00 to $43.00 in a research report on Wednesday, July 12th. Wolfe Research raised shares of Lazard from an “underperform” rating to a “peer perform” rating in a research report on Monday, July 3rd. StockNews.com began coverage on shares of Lazard in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Keefe, Bruyette & Woods raised Lazard from an “underperform” rating to a “market perform” rating and upped their target price for the company from $31.00 to $36.00 in a report on Thursday, July 13th. Finally, UBS Group lifted their price target on Lazard from $32.00 to $37.00 and gave the stock a “neutral” rating in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Lazard presently has a consensus rating of “Hold” and a consensus target price of $42.25.

View Our Latest Analysis on LAZ

Lazard Stock Down 0.2 %

LAZ stock opened at $33.42 on Tuesday. The company has a debt-to-equity ratio of 4.06, a quick ratio of 1.56 and a current ratio of 1.56. Lazard has a fifty-two week low of $27.71 and a fifty-two week high of $43.44. The company has a market cap of $3.77 billion, a P/E ratio of -185.66 and a beta of 1.41. The stock’s 50 day simple moving average is $34.09 and its 200 day simple moving average is $32.55.

Lazard (NYSE:LAZGet Free Report) last issued its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.13. The firm had revenue of $620.00 million during the quarter, compared to analyst estimates of $572.06 million. Lazard had a return on equity of 30.45% and a net margin of 0.07%. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.92 EPS. On average, research analysts expect that Lazard will post 0.79 earnings per share for the current fiscal year.

Institutional Trading of Lazard

Large investors have recently bought and sold shares of the company. CoreCap Advisors LLC bought a new position in shares of Lazard during the 4th quarter worth $25,000. CENTRAL TRUST Co lifted its holdings in Lazard by 88.7% during the 3rd quarter. CENTRAL TRUST Co now owns 800 shares of the asset manager’s stock worth $25,000 after purchasing an additional 376 shares in the last quarter. Parallel Advisors LLC boosted its stake in Lazard by 130.1% in the 2nd quarter. Parallel Advisors LLC now owns 1,001 shares of the asset manager’s stock worth $32,000 after purchasing an additional 566 shares during the period. Acadian Asset Management LLC purchased a new position in Lazard during the 1st quarter valued at about $48,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Lazard by 489.4% during the third quarter. Tower Research Capital LLC TRC now owns 1,727 shares of the asset manager’s stock valued at $55,000 after buying an additional 1,434 shares during the period. 57.64% of the stock is owned by hedge funds and other institutional investors.

Lazard Company Profile

(Get Free Report)

Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm in North America, Europe, Asia, Australia, and Central and South America. It operates in two segments, Financial Advisory and Asset Management. The Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions, restructurings, capital advisory, shareholder advisory, capital raising, sovereign advisory, and other strategic advisory matters.

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Analyst Recommendations for Lazard (NYSE:LAZ)

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