Shares of Lazard Ltd. (NYSE:LAZ) have been assigned an average rating of “Buy” from the twelve ratings firms that are presently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $46.43.

Several analysts have commented on the stock. BidaskClub downgraded shares of Lazard from a “buy” rating to a “hold” rating in a report on Friday. Zacks Investment Research downgraded shares of Lazard from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Credit Suisse Group reiterated a “buy” rating and issued a $50.00 price objective on shares of Lazard in a report on Friday, April 21st. ValuEngine upgraded shares of Lazard from a “buy” rating to a “strong-buy” rating in a report on Friday, July 28th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $51.00 price objective on shares of Lazard in a report on Tuesday, May 9th.

Lazard (NYSE:LAZ) traded down 0.26% during mid-day trading on Friday, reaching $42.31. 458,183 shares of the company’s stock traded hands. The stock has a market cap of $5.15 billion, a P/E ratio of 11.99 and a beta of 1.84. The firm has a 50-day moving average price of $45.98 and a 200-day moving average price of $44.81. Lazard has a 1-year low of $33.48 and a 1-year high of $48.86.

Lazard (NYSE:LAZ) last announced its earnings results on Thursday, July 27th. The asset manager reported $0.98 EPS for the quarter, topping the consensus estimate of $0.80 by $0.18. The firm had revenue of $720.16 million for the quarter, compared to the consensus estimate of $627.12 million. Lazard had a net margin of 17.39% and a return on equity of 39.33%. The business’s quarterly revenue was up 32.8% on a year-over-year basis. During the same period last year, the company posted $0.61 EPS. Equities research analysts anticipate that Lazard will post $3.59 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, August 7th will be issued a $0.41 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.87%. Lazard’s dividend payout ratio (DPR) is presently 46.46%.

In related news, CFO Matthieu Bucaille sold 90,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $44.81, for a total value of $4,032,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.50% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the stock. Palisade Capital Management LLC NJ boosted its position in Lazard by 1.6% in the first quarter. Palisade Capital Management LLC NJ now owns 96,491 shares of the asset manager’s stock valued at $4,438,000 after buying an additional 1,520 shares in the last quarter. Boston Advisors LLC boosted its position in Lazard by 10.9% in the first quarter. Boston Advisors LLC now owns 25,030 shares of the asset manager’s stock valued at $1,151,000 after buying an additional 2,470 shares in the last quarter. Nisa Investment Advisors LLC purchased a new position in Lazard during the first quarter valued at $1,026,000. Commonwealth Financial Services LLC boosted its position in Lazard by 7.7% in the first quarter. Commonwealth Financial Services LLC now owns 4,875 shares of the asset manager’s stock valued at $217,000 after buying an additional 347 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in Lazard by 6.0% in the first quarter. State of Alaska Department of Revenue now owns 11,030 shares of the asset manager’s stock valued at $507,000 after buying an additional 620 shares in the last quarter. 69.05% of the stock is owned by institutional investors and hedge funds.

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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)

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