Keefe, Bruyette & Woods Issues Pessimistic Forecast for Lazard (NYSE:LAZ) Stock Price

Lazard (NYSE:LAZ) had its price objective decreased by investment analysts at Keefe, Bruyette & Woods from $49.00 to $44.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “market perform” rating on the asset manager’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 5.37% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Lazard from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Citigroup reiterated an “outperform” rating on shares of Lazard in a report on Friday, April 10th. Weiss Ratings cut shares of Lazard from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 22nd. Citizens Jmp cut their price target on shares of Lazard from $65.00 to $60.00 and set a “market outperform” rating on the stock in a report on Friday, April 10th. Finally, Argus decreased their price objective on shares of Lazard from $63.00 to $52.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $50.89.

Lazard Trading Up 2.4%

Shares of LAZ stock opened at $41.76 on Friday. The business has a 50-day moving average of $44.98 and a 200 day moving average of $47.25. The company has a debt-to-equity ratio of 1.94, a current ratio of 3.51 and a quick ratio of 3.51. Lazard has a 1-year low of $38.67 and a 1-year high of $58.75. The stock has a market capitalization of $4.66 billion, a PE ratio of 16.51, a P/E/G ratio of 0.44 and a beta of 1.43.

Lazard (NYSE:LAZ) last announced its quarterly earnings results on Friday, May 1st. The asset manager reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.10). Lazard had a return on equity of 29.30% and a net margin of 8.47%.The company had revenue of $672.98 million during the quarter, compared to analysts’ expectations of $707.42 million. During the same period last year, the firm earned $0.56 earnings per share. Lazard’s revenue for the quarter was up 16.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Lazard will post 2.85 earnings per share for the current year.

Institutional Investors Weigh In On Lazard

A number of large investors have recently modified their holdings of the stock. Kestra Advisory Services LLC purchased a new position in shares of Lazard during the fourth quarter valued at about $26,000. Sound Income Strategies LLC lifted its holdings in Lazard by 59.5% in the fourth quarter. Sound Income Strategies LLC now owns 590 shares of the asset manager’s stock worth $31,000 after buying an additional 220 shares during the period. Quest 10 Wealth Builders Inc. purchased a new stake in Lazard in the fourth quarter worth about $32,000. IFP Advisors Inc boosted its position 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 in the last quarter. Finally, State of Wyoming bought a new stake in Lazard during the 2nd quarter valued at approximately $38,000. 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.