Nomura Initiates Coverage on Lazard (LAZ)
Nomura began coverage on shares of Lazard (NYSE:LAZ) in a research note issued on Thursday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating and a $47.00 price target on the stock. Nomura’s price objective points to a potential downside of 5.58% from the stock’s previous close.
Shares of Lazard (NYSE:LAZ) traded up 1.43% on Thursday, 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 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 declared a quarterly dividend, which is scheduled for Friday, May 23rd. Stockholders 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.
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