Buckingham Research Trims Lazard (NYSE:LAZ) Target Price to $41.00

Lazard (NYSE:LAZ) had its target price trimmed by Buckingham Research from $45.00 to $41.00 in a report published on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has a neutral rating on the asset manager’s stock.

Several other analysts have also issued reports on LAZ. Bank of America set a $7.00 price target on shares of Deutsche Bank and gave the stock a sell rating in a research report on Thursday, April 11th. Zacks Investment Research raised shares of Triple-S Management from a hold rating to a buy rating and set a $26.00 price target on the stock in a research report on Monday, April 29th. Finally, UBS Group raised shares of China Unicom (Hong Kong) from a neutral rating to a buy rating in a research report on Monday, June 10th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company. Lazard presently has an average rating of Hold and an average target price of $43.50.

NYSE LAZ opened at $35.62 on Thursday. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.77 and a quick ratio of 1.77. The stock’s fifty day moving average price is $34.10. Lazard has a 1 year low of $31.07 and a 1 year high of $54.64. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of 9.45, a P/E/G ratio of 3.52 and a beta of 1.67.

Lazard (NYSE:LAZ) last posted its quarterly earnings results on Thursday, April 25th. The asset manager reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.29. Lazard had a net margin of 16.72% and a return on equity of 48.17%. The firm had revenue of $620.00 million for the quarter, compared to analyst estimates of $598.66 million. During the same period in the prior year, the firm posted $1.26 earnings per share. The company’s quarterly revenue was down 14.4% compared to the same quarter last year. As a group, sell-side analysts expect that Lazard will post 3.71 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Hudson Capital Management LLC grew its stake in Lazard by 16.2% during the second 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 in the last quarter. Xact Kapitalforvaltning AB grew its stake in Lazard by 112.5% during the second 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 in the last quarter. Gofen & Glossberg LLC IL grew its stake in Lazard by 1.3% during the second 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 in the last quarter. First Trust Advisors LP grew its stake in Lazard by 50.4% during the first 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 in the last quarter. Finally, FMR LLC grew its stake in Lazard by 94.8% during the first 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 in the last quarter. 65.59% of the stock is currently owned by institutional investors.

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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