Share on StockTwits

Lazard (NYSE:LAZ) was upgraded by research analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a report released on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $54.00 target price on the stock, up from their previous target price of $47.00. Raymond James’ target price points to a potential upside of 8.48% from the stock’s previous close.

Lazard (NYSE:LAZ) traded up 1.43% on Wednesday, hitting $49.78. The stock had a trading volume of 883,689 shares. Lazard has a 1-year low of $30.63 and a 1-year high of $50.61. The stock’s 50-day moving average is $47.74 and its 200-day moving average is $44.87. The company has a market cap of $6.114 billion and a price-to-earnings ratio of 28.97.

Lazard (NYSE:LAZ) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.61 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.28 earnings per share. The company’s quarterly revenue 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 declared a quarterly dividend, which is scheduled for Friday, May 23rd. Investors of record on Monday, May 12th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, May 8th.

Lazard Ltd (NYSE:LAZ) is holding company.

The Fly On The Wall

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.