Lazard Downgraded by Buckingham Research to “Neutral” (LAZ)
Lazard (NYSE:LAZ) was downgraded by analysts at Buckingham Research from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, TheFlyOnTheWall.com reports. They currently have a $37.50 price objective on the stock, up from their previous price objective of $34.00. Buckingham Research’s target price would indicate a potential downside of 24.95% from the stock’s previous close.
Shares of Lazard (NYSE:LAZ) traded up 0.06% on Wednesday, hitting $49.97. The stock had a trading volume of 425,693 shares. 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 $47.85 and a 200-day moving average of $45.02. The company has a market cap of $6.138 billion and a P/E ratio of 29.48.
Lazard (NYSE:LAZ) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.61 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.28 earnings per share. Lazard’s revenue was up 30.4% compared to the same quarter last year. On average, analysts predict that Lazard will post $2.74 earnings per share 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 2.40%. The ex-dividend date is Thursday, May 8th.
Lazard Ltd (NYSE:LAZ) is holding company.
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