Lazard Ltd Receives Mixed Reviews from Analysts
Lazard Ltd (NYSE: LAZ), a global financial advisory and asset management firm, is a company that has been closely watched by investors and analysts alike. The company has recently received mixed reviews from analysts, with some rating the stock a Buy, while others have rated it as Hold.
According to Bloomberg.com, there are currently six brokerages covering Lazard Ltd stock. Among those brokers, one analyst has given the company a Sell rating, three have rated it as Hold, and two have provided a Buy rating. The average 1-year price target among these brokers is $39.80.
In its most recent earnings report on February 2nd, Lazard Ltd reported earnings per share (EPS) of $0.69 for the quarter. This amount fell short of analysts’ consensus estimate of $0.72 EPS by $0.03. Meanwhile, Lazard’s net margin was 12.52%, with a return on equity of 48.82%. Despite missing its earnings estimate for Q1 of 2023; however, Lazard’s revenue exceeded expectations at $731.86 million compared to an estimated $655.09 million.
Lazard operates through two main segments: Financial Advisory and Asset Management. In the Financial Advisory segment, the company provides different financial services to corporate clients including mergers and acquisitions advice, capital raising advice and capital restructuring advice to individual clients among others options.
While some analysts remain cautious about the future prospects of Lazard Ltd stock given its lackluster performance in Q1 2023; others believe that there may still be growth potential for this financial advisory giant in the coming years as they continue to expand their offerings amidst massive changes in the industry affecting even bigger players like Morgan Stanley or JP Morgan Chase & Co choosing more sustainable investment-driven approaches rather than continuing traditional banking structures.
Investors looking for an inclusive view of the financial sector before adding Lazard Ltd to their portfolio may want to look into other options that provide a more comprehensive view of the industry, taking all variables in consideration. That said, intrigued people will need to remain patient and attentive as they wait for results from this stock in the coming months.
Mixed Ratings for Lazard Ltd. Shares: Updates on Financial Advisory and Asset Management Firm’s Performance in the Market
Lazard Ltd., the well-known financial advisory and asset management firm that has been catering to individuals, corporations, governments, institutions, and partnerships for years now. Recently, a series of reports issued by various analysts have shown mixed ratings for Lazard’s shares. Morgan Stanley raised the rating from “underweight” to “equal weight,” while JMP Securities decreased their price target on Lazard’s shares. The stock opened at $32.29 on Thursday, representing a market capitalization of $3.64 billion.
As a firm that operates through two main segments – Financial Advisory and Asset Management – Lazard provides an array of financial advisory services regarding restructuring mergers and acquisitions, capital structure, corporate preparedness, and capital raising. They also declared a quarterly dividend and paid it in February 2023 to investors of record as at Monday, February 13th.
The ex-dividend date was Friday, February 10th with Lazard recording a dividend payout ratio (DPR) at 57.64%. CoreCap Advisors LLC recently bought new shares with CENTRAL TRUST Company having already acquired additional shares worth about $25 thousand during late last year.
Spire Wealth Management has also come on board to buy new shares worth around $29k in October 2022 with Eagle Bay Advisors buying new stakes in the previous year valued at around $49K. Tower Research Capital LLC TRC increased its stake by nearly 500% in Lazard’s shares during September last year.
In summary, although some analysts have varied opinions on the state of Lazard’s share prices and ratings since January/February this year; nonetheless, many large institutional investors continue to buy these shares despite knowing they are not without risk factors associated with them or other market implications looming ahead.