Lazard PT Raised to $54.00 at Goldman Sachs (LAZ)
Goldman Sachs increased their price objective on shares of Lazard (NYSE:LAZ) from $53.00 to $54.00 in a research note issued on Thursday. The firm currently has a “conviction-buy” rating on the stock. Goldman Sachs’ price objective would indicate a potential upside of 10.02% from the company’s current price.
Shares of Lazard (NYSE:LAZ) traded down 2.17% during mid-day trading on Thursday, hitting $49.08. 1,088,514 shares of the company’s stock traded hands. Lazard has a one year low of $30.63 and a one year high of $50.61. The stock has a 50-day moving average of $47.68 and a 200-day moving average of $44.80. The company has a market cap of $6.028 billion and a price-to-earnings ratio of 29.62.
Lazard (NYSE:LAZ) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.07. The company had revenue of $540.00 million for the quarter, compared to the consensus estimate of $514.80 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 30.4% on a year-over-year basis. Analysts expect that Lazard will post $2.74 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, May 23rd. Shareholders of record on Monday, May 12th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Thursday, May 8th.
A number of other analysts have also recently weighed in on LAZ. Analysts at JMP Securities raised their price target on shares of Lazard from $51.00 to $54.00 in a research note on Thursday, April 3rd. Separately, analysts at Zacks reiterated an “outperform” rating on shares of Lazard in a research note on Tuesday, April 1st. They now have a $54.00 price target on the stock. Finally, analysts at Nomura upgraded shares of Lazard from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 26th. They now have a $54.00 price target on the stock, up previously from $48.00. Six equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Lazard currently has a consensus rating of “Buy” and a consensus target price of $51.40.
Lazard Ltd (NYSE:LAZ) is holding company.
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