Shares of Lazard, Inc. (NYSE:LAZ – Get Free Report) have received an average recommendation of “Hold” from the seven research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $53.50.
A number of equities research analysts recently weighed in on the stock. UBS Group boosted their price target on shares of Lazard from $49.00 to $52.00 and gave the company a “neutral” rating in a research report on Tuesday, October 8th. StockNews.com lowered shares of Lazard from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. The Goldman Sachs Group dropped their price objective on shares of Lazard from $51.00 to $44.00 and set a “sell” rating on the stock in a research note on Wednesday, January 15th. Keefe, Bruyette & Woods dropped their price objective on shares of Lazard from $57.00 to $52.00 and set a “market perform” rating on the stock in a research note on Monday, January 13th. Finally, Wolfe Research lowered shares of Lazard from an “outperform” rating to a “peer perform” rating in a research note on Friday, January 3rd.
Lazard Price Performance
Lazard (NYSE:LAZ – Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The asset manager reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.03). Lazard had a net margin of 8.28% and a return on equity of 42.20%. The company had revenue of $646.00 million during the quarter, compared to analysts’ expectations of $644.22 million. During the same period last year, the firm earned $0.10 earnings per share. Lazard’s revenue was up 21.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Lazard will post 2.06 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in LAZ. Gilman Hill Asset Management LLC boosted its holdings in Lazard by 2.5% during the fourth quarter. Gilman Hill Asset Management LLC now owns 9,790 shares of the asset manager’s stock worth $504,000 after buying an additional 240 shares in the last quarter. Assetmark Inc. boosted its holdings in Lazard by 12.2% during the third quarter. Assetmark Inc. now owns 5,413 shares of the asset manager’s stock worth $273,000 after buying an additional 589 shares in the last quarter. Great Lakes Retirement Inc. boosted its holdings in Lazard by 3.5% during the third quarter. Great Lakes Retirement Inc. now owns 18,646 shares of the asset manager’s stock worth $939,000 after buying an additional 624 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Lazard by 1.8% during the third quarter. HighTower Advisors LLC now owns 40,425 shares of the asset manager’s stock worth $2,028,000 after buying an additional 728 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its holdings in Lazard by 12.2% during the fourth quarter. Park Avenue Securities LLC now owns 6,672 shares of the asset manager’s stock worth $343,000 after buying an additional 728 shares in the last quarter. 54.80% of the stock is currently owned by institutional investors and hedge funds.
About Lazard
Lazard, Inc, together with its subsidiaries, operates as a financial advisory and asset management firm in North and South America, Europe, the Middle East, Asia, and Australia. It operates in two segments, Financial Advisory and Asset Management. The Financial Advisory segment offers financial advisory services, such as mergers and acquisitions, capital markets, shareholder, sovereign, geopolitical advisory, and other strategic advisory services, as well as restructuring and liability management, and capital raising and placement services.
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