Lazard’s (LAZ) Buy Rating Reiterated at Nomura
Lazard Ltd (NYSE:LAZ)‘s stock had its “buy” rating restated by stock analysts at Nomura in a report released on Wednesday. They presently have a $47.00 price target on the stock. Nomura’s price target suggests a potential upside of 30.74% from the stock’s previous close.
LAZ has been the subject of several other research reports. Credit Suisse Group AG restated a “buy” rating on shares of Lazard in a report on Tuesday, June 28th. Zacks Investment Research upgraded Lazard from a “sell” rating to a “hold” rating in a report on Tuesday, August 30th. Finally, TheStreet upgraded Lazard to a “buy” rating in a report on Thursday, August 18th. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Lazard currently has a consensus rating of “Buy” and an average target price of $50.25.
Lazard (NYSE:LAZ) traded up 0.92% during trading on Wednesday, reaching $36.28. The company’s stock had a trading volume of 401,561 shares. The stock has a market cap of $4.51 billion, a P/E ratio of 6.86 and a beta of 2.20. Lazard has a 52-week low of $26.21 and a 52-week high of $49.57. The firm’s 50-day moving average is $36.55 and its 200-day moving average is $35.07.
Lazard (NYSE:LAZ) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.03. The firm earned $542.30 million during the quarter, compared to analyst estimates of $542.68 million. During the same period in the prior year, the business earned $0.98 EPS. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. Equities research analysts forecast that Lazard will post $2.85 EPS for the current year.
In other news, Director Jane L. Mendillo acquired 1,400 shares of Lazard stock in a transaction dated Tuesday, August 2nd. The stock was bought at an average price of $35.22 per share, for a total transaction of $49,308.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Scott D. Hoffman sold 42,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $34.92, for a total value of $1,466,640.00. The disclosure for this sale can be found here.
Large investors have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Lazard by 50.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,454 shares of the company’s stock worth $103,000 after buying an additional 1,160 shares in the last quarter. Westport Resources Management Inc. boosted its stake in shares of Lazard by 100.0% in the second quarter. Westport Resources Management Inc. now owns 3,800 shares of the company’s stock worth $113,000 after buying an additional 1,900 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Lazard by 3.2% in the first quarter. Canada Pension Plan Investment Board now owns 3,200 shares of the company’s stock worth $124,000 after buying an additional 100 shares in the last quarter. Synovus Financial Corp boosted its stake in shares of Lazard by 0.7% in the second quarter. Synovus Financial Corp now owns 5,227 shares of the company’s stock worth $156,000 after buying an additional 36 shares in the last quarter. Finally, Societe Generale acquired a new stake in Lazard during the second quarter worth $169,000.
Lazard Company Profile
Lazard Ltd (Lazard) is a financial advisory and asset management company. The Company operates in two business segments: Financial Advisory and Asset Management. The Financial Advisory business segment offers corporate, partnership, institutional, government, sovereign and individual clients a range of financial advisory services regarding mergers and acquisitions (M&A) and other strategic matters, restructurings, capital structure, capital raising and various other financial matters.
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