Economy

Lazard (LAZ) Releases Quarterly Earnings Results, Beats Estimates By $0.22 EPS

Shares of NYSE LAZ traded down $0.10 during mid-day trading on Friday, reaching $53.50. About 3.23 million shares traded or 46.19% up from the average.

Investors sentiment decreased to 1 in 2017 Q4. LAZ outperformed by 6.90% the S&P500. Thornburg Investment Management Inc sold 13,769 shares as Anheuser (BUD)'s stock declined 3.67%. Following the completion of the transaction, the chief accounting officer now directly owns 147,341 shares in the company, valued at approximately $7,680,886.33. JMP Securities's target suggests a potential upside of 23.13% from the company's last price. The stock increased 0.27% or $0.08 during the last trading session, reaching $30.15. Lazard Ltd (NYSE:LAZ) has risen 18.45% since April 28, 2017 and is uptrending. It has outperformed by 16.63% the S&P500.

Among 14 analysts covering Lazard (NYSE:LAZ), 13 have Buy rating, 0 Sell and 1 Hold. Therefore 88% are positive. Lazard had 42 analyst reports since July 24, 2015 according to SRatingsIntel. The stock has "Buy" rating by UBS on Friday, February 3. The stock has "Buy" rating by Instinet on Wednesday, January 3. The firm has "Buy" rating by Argus Research given on Friday, July 24. Federated Investors Pa holds 0.07% of its portfolio in Lazard Ltd (NYSE:LAZ) for 492,802 shares. Zacks Investment Research upgraded shares of Lazard from a "hold" rating to a "buy" rating and set a $67.00 price objective on the stock in a report on Monday, February 5th. Finally, TheStreet cut Lazard from an "a-" rating to a "c+" rating in a research report on Friday, February 2nd.

1/8/2018-Goldman Sachs Upgrade from a "Neutral " rating to a " Buy" rating. The firm has "Buy" rating by Nomura given on Wednesday, January 3. The rating was maintained by Keefe Bruyette & Woods on Thursday, July 27 with "Buy". Genovese Burford & Brothers Wealth & Retirement Plan Management LLC bought a new stake in Lazard during the fourth quarter worth $125,000.

Since January 1, 0001, it had 0 insider buys, and 2 sales for $4.24 million activity. $781,950 worth of Lazard Ltd (NYSE:LAZ) shares were sold by Hoffman Scott D.

More news: Langen Mcalenn Equities Analysts Increase Earnings Estimates for Marsh & McLennan Companies (MMC)

Investors sentiment decreased to 1 in 2017 Q4. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.91 and a current ratio of 1.91. The ratio worsened, as 120 hedge funds increased or opened new positions, while 120 sold and decreased their stakes in Lazard LTD. 75 rose stakes while 45 funds took stakes. Sandy Spring Bancorporation reported 27,267 shares or 0.13% of all its holdings. During the same period last year, the company earned $0.83 earnings per share. equities research analysts anticipate that Lazard will post 4.08 earnings per share for the current fiscal year. Accern also assigned headlines about the asset manager an impact score of 47.777136554622 out of 100, indicating that recent press coverage is somewhat unlikely to have an impact on the stock's share price in the next several days. State Of Alaska Department Of Revenue holds 0.03% or 20,360 shares in its portfolio. Dekabank Deutsche Girozentrale holds 213,764 shares. Midas Mgmt has invested 0.87% in Lazard Ltd (NYSE:LAZ). Moreover, Advisory Serv Ltd Liability Company has 0.01% invested in Lazard Ltd (NYSE:LAZ) for 2,151 shares. Gsa Capital Ptnrs Llp invested in 80,624 shares. The hedge funds in our database now have: 87.70 million shares, down from 89.96 million shares in 2017Q3. Northern Trust reported 534,115 shares. Macquarie Grp Limited invested in 0.03% or 131,200 shares. It also upped Grifols Sa (NASDAQ:GRFS) stake by 71,139 shares and now owns 409,280 shares. Its down 0.31, from 1.27 in 2017Q3. It increased, as 66 investors sold BAC shares while 561 reduced holdings. 56 funds opened positions while 138 raised stakes. 32,599 were accumulated by First Interstate Savings Bank. Brandywine Glob Mgmt Ltd holds 134,505 shares. Lansdowne Prtnrs (Uk) Limited Liability Partnership reported 43.64 million shares. Steinberg Global Asset Mngmt has 62,727 shares for 0.47% of their portfolio.

Invesco Ltd increased Eldorado Resorts Inc (ERI) stake by 26.66% reported in 2017Q4 SEC filing. Goodwin Daniel L stated it has 36,753 shares. The Pinnacle Associates Ltd holds 926,101 shares with $48.62 million value, down from 1.03M last quarter. The Massachusetts-based Highvista Strategies Lc has invested 0.08% in Lazard Ltd (NYSE:LAZ). Lpl Financial Llc invested 0.03% in Anheuser-Busch InBev SA/NV (NYSE:BUD). Research analysts expect Lazard to earn $4.57 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 35.9%.

NYSE:LAZ - Lazard (NYSE:LAZ) has insider ownership of 2.76% and institutional ownership of 72.32%.

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