Lazard Ltd. (NYSE:LAZ) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Friday.

LAZ has been the subject of several other reports. ValuEngine raised shares of Lazard from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 28th. Zacks Investment Research raised shares of Lazard from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Wednesday, June 7th. Credit Suisse Group reissued a “buy” rating and set a $50.00 price objective on shares of Lazard in a research note on Friday, April 21st. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $51.00 price objective on shares of Lazard in a research note on Tuesday, May 9th. Four research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Lazard presently has an average rating of “Buy” and an average price target of $46.89.

Shares of Lazard (NYSE:LAZ) traded up 0.56% on Friday, reaching $43.20. The company had a trading volume of 292,089 shares. Lazard has a 1-year low of $33.48 and a 1-year high of $48.86. The firm has a 50-day moving average price of $46.36 and a 200 day moving average price of $44.74. The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 12.24 and a beta of 1.84.

Lazard (NYSE:LAZ) last announced its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.18. Lazard had a net margin of 17.39% and a return on equity of 39.33%. The company had revenue of $720.16 million during the quarter, compared to analysts’ expectations of $627.12 million. During the same period in the previous year, the company earned $0.61 EPS. The business’s quarterly revenue was up 32.8% compared to the same quarter last year. Equities research analysts predict that Lazard will post $3.53 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: This news story was posted by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The correct version of this news story can be read at https://www.dailypolitical.com/2017/08/11/lazard-ltd-nyselaz-cut-to-buy-at-bidaskclub.html.

In related news, CFO Matthieu Bucaille sold 90,000 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $44.81, for a total transaction of $4,032,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Scott D. Hoffman sold 35,000 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $45.13, for a total transaction of $1,579,550.00. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. UBS Group AG boosted its position in Lazard by 84.2% in the first quarter. UBS Group AG now owns 322,512 shares of the asset manager’s stock worth $14,832,000 after buying an additional 147,436 shares during the last quarter. Evanson Asset Management LLC boosted its position in Lazard by 0.9% in the first quarter. Evanson Asset Management LLC now owns 22,905 shares of the asset manager’s stock worth $1,053,000 after buying an additional 201 shares during the last quarter. Neuberger Berman Group LLC purchased a new position in Lazard during the first quarter worth $335,000. CENTRAL TRUST Co boosted its position in Lazard by 558.7% in the first quarter. CENTRAL TRUST Co now owns 3,537 shares of the asset manager’s stock worth $163,000 after buying an additional 3,000 shares during the last quarter. Finally, RWC Asset Management LLP boosted its position in Lazard by 62.6% in the first quarter. RWC Asset Management LLP now owns 529,113 shares of the asset manager’s stock worth $24,334,000 after buying an additional 203,691 shares during the last quarter. 73.67% of the stock is owned by institutional investors.

About Lazard

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)

Receive News & Ratings for Lazard Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lazard Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.