Wolfe Research cut shares of Lazard (NYSE:LAZ) from a market perform rating to an underperform rating in a research note released on Tuesday morning, The Fly reports.

Other analysts have also issued reports about the company. Zacks Investment Research lowered Lazard from a buy rating to a hold rating in a report on Wednesday, September 26th. ValuEngine downgraded Lazard from a sell rating to a strong sell rating in a research report on Thursday, November 15th. Goldman Sachs Group assumed coverage on Lazard in a research report on Tuesday, November 6th. They issued a neutral rating and a $46.00 target price for the company. Keefe, Bruyette & Woods reiterated a mkt perform rating and set a $41.00 price objective on shares of Lazard in a research report on Friday, January 4th. Finally, 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 research note on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $53.14.

Shares of LAZ stock opened at $36.86 on Tuesday. The firm has a market cap of $4.86 billion, a P/E ratio of 9.75, a PEG ratio of 1.05 and a beta of 1.67. Lazard has a 1 year low of $33.54 and a 1 year high of $60.00. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 1.28.

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

Hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue increased its stake in Lazard by 3.3% in the 4th quarter. State of Alaska Department of Revenue now owns 31,524 shares of the asset manager’s stock valued at $1,162,000 after buying an additional 1,015 shares during the last quarter. Putnam Investments LLC lifted its holdings in shares of Lazard by 27.0% during the 2nd quarter. Putnam Investments LLC now owns 5,664 shares of the asset manager’s stock worth $277,000 after acquiring an additional 1,203 shares during the period. Macquarie Group Ltd. lifted its holdings in shares of Lazard by 0.8% during the 2nd quarter. Macquarie Group Ltd. now owns 214,932 shares of the asset manager’s stock worth $10,512,000 after acquiring an additional 1,675 shares during the period. Moody Aldrich Partners LLC bought a new stake in shares of Lazard during the 2nd quarter worth approximately $100,510,000. Finally, Belpointe Asset Management LLC acquired a new position in Lazard during the 3rd quarter worth approximately $111,000. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Lazard Company Profile

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.

Read More: Cost of Capital Explained

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Analyst Recommendations for Lazard (NYSE:LAZ)

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