Lazard (NYSE:LAZ) Shares Gap Down – Should You Sell?
by Tristan Rich · The Markets DailyLazard, Inc. (NYSE:LAZ – Get Free Report)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $44.16, but opened at $41.88. Lazard shares last traded at $42.4170, with a volume of 231,727 shares.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on LAZ shares. Keefe, Bruyette & Woods increased their target price on Lazard from $59.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, January 30th. Zacks Research raised shares of Lazard from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Lazard in a research note on Monday, December 29th. UBS Group restated a “neutral” rating and issued a $59.00 target price on shares of Lazard in a report on Friday, January 30th. Finally, Morgan Stanley decreased their target price on shares of Lazard from $61.00 to $59.00 and set an “underweight” rating on the stock in a research report on Tuesday, January 6th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $57.13.
Read Our Latest Stock Report on Lazard
Lazard Stock Performance
The company has a market capitalization of $4.72 billion, a P/E ratio of 19.39, a P/E/G ratio of 0.34 and a beta of 1.40. The business has a 50-day moving average of $51.47 and a 200-day moving average of $51.56. The company has a debt-to-equity ratio of 1.85, a current ratio of 2.28 and a quick ratio of 2.28.
Lazard (NYSE:LAZ – Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The asset manager reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.12. The business had revenue of $892.00 million for the quarter, compared to analysts’ expectations of $876.32 million. Lazard had a net margin of 7.49% and a return on equity of 33.04%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.78 earnings per share. On average, sell-side analysts anticipate that Lazard, Inc. will post 4.24 EPS for the current year.
Lazard Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Monday, February 9th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Monday, February 9th. Lazard’s dividend payout ratio is 91.74%.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Kestra Advisory Services LLC purchased a new stake in shares of Lazard in the fourth quarter worth approximately $26,000. Sound Income Strategies LLC boosted its holdings in Lazard by 59.5% during the 4th quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 220 shares during the period. IFP Advisors Inc boosted its holdings in Lazard by 53.5% during the 3rd quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 224 shares during the period. Quest 10 Wealth Builders Inc. bought a new position in Lazard in the 4th quarter valued at $32,000. Finally, Costello Asset Management INC bought a new position in Lazard in the 3rd quarter valued at $37,000. Institutional investors own 54.80% of the company’s stock.
About Lazard
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.