Lazard Ltd (LAZ) Receives $48.30 Consensus Price Target from Analysts
Lazard Ltd (NYSE:LAZ) has been given a consensus recommendation of “Buy” by the twelve research firms that are covering the stock. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $48.30.
LAZ has been the topic of a number of research reports. TheStreet upgraded Lazard to a “buy” rating in a report on Thursday, August 18th. Credit Suisse Group AG reiterated a “buy” rating and issued a $42.00 target price on shares of Lazard in a research note on Tuesday, September 6th. Zacks Investment Research upgraded Lazard from a “sell” rating to a “hold” rating in a research note on Tuesday, August 30th. Nomura reiterated a “buy” rating and issued a $47.00 target price on shares of Lazard in a research note on Wednesday, October 5th. Finally, Rafferty Capital Markets upgraded Lazard from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Thursday, October 27th.
Shares of Lazard (NYSE:LAZ) opened at 38.29 on Tuesday. Lazard has a 1-year low of $26.21 and a 1-year high of $47.87. The company’s 50-day moving average price is $36.20 and its 200 day moving average price is $34.79. The stock has a market cap of $4.72 billion, a PE ratio of 12.18 and a beta of 2.20.
Lazard (NYSE:LAZ) last released its quarterly earnings data on Thursday, October 27th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.04. The firm earned $611 million during the quarter, compared to analysts’ expectations of $593.03 million. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.93 earnings per share. Equities analysts forecast that Lazard will post $3.01 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Stockholders of record on Monday, November 7th will be given a $0.38 dividend. The ex-dividend date is Thursday, November 3rd. This represents a $1.52 annualized dividend and a dividend yield of 3.97%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Lazard by 2.3% in the first quarter. Geode Capital Management LLC now owns 771,208 shares of the company’s stock valued at $29,922,000 after buying an additional 17,551 shares during the last quarter. Strs Ohio raised its position in shares of Lazard by 28.7% in the second quarter. Strs Ohio now owns 1,993,000 shares of the company’s stock valued at $59,351,000 after buying an additional 445,000 shares during the last quarter. Tocqueville Asset Management L.P. raised its position in shares of Lazard by 58.4% in the second quarter. Tocqueville Asset Management L.P. now owns 511,500 shares of the company’s stock valued at $15,232,000 after buying an additional 188,645 shares during the last quarter. State Street Corp raised its position in shares of Lazard by 3.1% in the first quarter. State Street Corp now owns 1,623,623 shares of the company’s stock valued at $62,998,000 after buying an additional 49,394 shares during the last quarter. Finally, BlackRock Inc. purchased a new position in shares of Lazard during the first quarter valued at approximately $414,000.
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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