Lazard (LAZ) Reaches New 12-Month Low at $35.75

Lazard Ltd (NYSE:LAZ)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $35.75 and last traded at $36.39, with a volume of 54733 shares traded. The stock had previously closed at $37.13.

Several equities analysts have recently commented on LAZ shares. Zacks Investment Research cut shares of Lazard from a “buy” rating to a “hold” rating in a research report on Wednesday, September 26th. Buckingham Research cut their target price on shares of Lazard from $64.00 to $52.00 and set a “neutral” rating on the stock in a report on Friday, October 26th. Goldman Sachs Group initiated coverage on shares of Lazard in a report on Tuesday, November 6th. They issued a “neutral” rating and a $46.00 target price on the stock. ValuEngine cut shares of Lazard from a “hold” rating to a “sell” rating in a report on Thursday, October 18th. Finally, Wolfe Research initiated coverage on shares of Lazard in a report on Tuesday, September 25th. They issued a “market perform” rating on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. Lazard has an average rating of “Hold” and a consensus price target of $57.75.

The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.83 and a current ratio of 1.83. The firm has a market capitalization of $4.81 billion, a PE ratio of 9.39, a PEG ratio of 1.06 and a beta of 1.85.

Lazard (NYSE:LAZ) last issued its earnings results on Thursday, October 25th. The asset manager reported $0.86 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.07). Lazard had a return on equity of 49.98% and a net margin of 11.49%. The business had revenue of $605.61 million during the quarter. As a group, sell-side analysts anticipate that Lazard Ltd will post 4.26 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, November 16th. Shareholders of record on Monday, November 5th were paid a $0.44 dividend. The ex-dividend date of this dividend was Friday, November 2nd. This represents a $1.76 annualized dividend and a dividend yield of 4.96%. Lazard’s payout ratio is currently 46.56%.

Several large investors have recently made changes to their positions in the business. Belpointe Asset Management LLC acquired a new stake in shares of Lazard in the third quarter valued at approximately $111,000. Vanguard Group Inc. increased its stake in shares of Lazard by 1.1% during the third quarter. Vanguard Group Inc. now owns 10,982,773 shares of the asset manager’s stock valued at $528,601,000 after acquiring an additional 114,709 shares during the period. Morgan Stanley increased its stake in shares of Lazard by 22.0% during the third quarter. Morgan Stanley now owns 2,909,856 shares of the asset manager’s stock valued at $140,051,000 after acquiring an additional 524,953 shares during the period. Rehmann Capital Advisory Group increased its stake in shares of Lazard by 3,072.2% during the third quarter. Rehmann Capital Advisory Group now owns 18,145 shares of the asset manager’s stock valued at $377,000 after acquiring an additional 17,573 shares during the period. Finally, Koshinski Asset Management Inc. acquired a new position in shares of Lazard during the third quarter valued at approximately $294,000. Institutional investors own 71.37% of the company’s stock.

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About Lazard (NYSE:LAZ)

Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm worldwide. Its Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions and other strategic matters, restructurings, capital structure, capital raising, shareholder advisory, and various other financial matters.

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