Lazard (NYSE:LAZ) Shares Gap Down – Should You Sell?

Lazard, Inc. (NYSE:LAZ) gapped down prior to trading on Tuesday . The stock had previously closed at $42.14, but opened at $40.55. Lazard shares last traded at $43.6760, with a volume of 99,565 shares.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LAZ. UBS Group reaffirmed a “neutral” rating and set a $44.00 price target on shares of Lazard in a research report on Tuesday, June 9th. Zacks Research raised Lazard from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Keefe, Bruyette & Woods reduced their price objective on Lazard from $49.00 to $44.00 and set a “market perform” rating for the company in a research note on Friday, July 10th. Argus decreased their target price on Lazard from $63.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Finally, Morgan Stanley lowered their target price on Lazard from $53.00 to $47.00 and set an “underweight” rating on the stock in a research note on Thursday, July 9th. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $51.00.

Lazard Trading Down 0.1%

The firm has a fifty day moving average of $44.32 and a two-hundred day moving average of $46.84. The company has a market cap of $4.86 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 0.64 and a beta of 1.43. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.94.

Lazard (NYSE:LAZ) last issued its earnings results on Thursday, July 23rd. The asset manager reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.22). The business had revenue of $786.47 million for the quarter, compared to the consensus estimate of $736.29 million. Lazard had a return on equity of 29.30% and a net margin of 8.47%. As a group, sell-side analysts predict that Lazard, Inc. will post 2.63 EPS for the current year.

Lazard Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Monday, August 3rd will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $2.00 annualized dividend and a yield of 4.6%. Lazard’s dividend payout ratio (DPR) is currently 79.05%.

Institutional Trading of Lazard

Several institutional investors and hedge funds have recently modified their holdings of LAZ. Kestra Advisory Services LLC bought a new position in shares of Lazard in the fourth quarter worth approximately $26,000. Sound Income Strategies LLC grew its stake in Lazard by 59.5% in the 4th quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock worth $31,000 after buying an additional 220 shares in the last quarter. Quest 10 Wealth Builders Inc. purchased a new stake in shares of Lazard during the 4th quarter valued at $32,000. IFP Advisors Inc lifted its holdings in shares of Lazard by 53.5% during the 3rd quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock worth $34,000 after acquiring an additional 224 shares during the last quarter. Finally, State of Wyoming bought a new stake in shares of Lazard during the 2nd quarter worth $38,000. Hedge funds and other institutional investors own 54.80% of the company’s stock.

Lazard Company Profile

Lazard Ltd. (NYSE: LAZ) is a leading global financial advisory and asset management firm, offering a comprehensive suite of services to corporations, governments and individuals. Founded in 1848, Lazard has built a reputation for providing independent advice and innovative solutions in complex financial transactions. The firm is publicly traded on the New York Stock Exchange under the ticker symbol LAZ and maintains its headquarters in Hamilton, Bermuda.

In its Financial Advisory segment, Lazard assists clients with mergers and acquisitions, restructurings, capital structure optimization and strategic planning.