Lazard Ltd (LAZ) Given Outperform Rating at Credit Suisse Group AG
Other analysts also recently issued research reports about the stock. TheStreet raised shares of Lazard to a buy rating in a report on Thursday, August 18th. Nomura lifted their target price on shares of Lazard from $46.00 to $49.00 and gave the company a buy rating in a report on Friday, July 29th. Rafferty Capital Markets raised shares of Lazard from a hold rating to a buy rating and set a $41.00 target price on the stock in a report on Thursday, October 27th. Finally, Zacks Investment Research raised shares of Lazard from a hold rating to a buy rating and set a $40.00 price objective on the stock in a report on Wednesday, October 5th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $47.00.
Shares of Lazard (NYSE:LAZ) opened at 39.88 on Friday. The firm has a market cap of $4.92 billion, a P/E ratio of 12.69 and a beta of 2.20. Lazard has a 12-month low of $26.21 and a 12-month high of $47.87. The firm has a 50-day moving average of $36.29 and a 200-day moving average of $34.83.
Lazard (NYSE:LAZ) last issued its earnings results on Thursday, October 27th. The company reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.04. The firm earned $611 million during the quarter, compared to analysts’ expectations of $593.03 million. The firm’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 EPS. On average, equities analysts forecast that Lazard will post $3.01 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Monday, November 7th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend was Thursday, November 3rd.
Several hedge funds have recently made changes to their positions in the stock. Synovus Financial Corp raised its position in 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. Advisor Group Inc. raised its position in Lazard by 0.3% in the third quarter. Advisor Group Inc. now owns 11,441 shares of the company’s stock worth $395,000 after buying an additional 38 shares in the last quarter. IBM Retirement Fund raised its position in Lazard by 0.8% in the second quarter. IBM Retirement Fund now owns 12,870 shares of the company’s stock worth $383,000 after buying an additional 100 shares in the last quarter. Osborn Rohs Williams & Donohoe Ltd raised its position in Lazard by 0.8% in the third quarter. Osborn Rohs Williams & Donohoe Ltd now owns 26,464 shares of the company’s stock worth $962,000 after buying an additional 208 shares in the last quarter. Finally, Evanson Asset Management LLC raised its position in Lazard by 1.0% in the third quarter. Evanson Asset Management LLC now owns 22,490 shares of the company’s stock worth $818,000 after buying an additional 229 shares in the last quarter.
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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