Lazard Given New $39.00 Price Target at Credit Suisse (LAZ)
Stock analysts at Credit Suisse decreased their price target on shares of Lazard (NYSE:LAZ) from $40.00 to $39.00 in a report issued on Tuesday. The firm currently has an “outperform” rating on the stock. Credit Suisse’s price objective would suggest a potential downside of 21.95% from the stock’s previous close.
Shares of Lazard (NYSE:LAZ) traded up 0.06% on Tuesday, hitting $49.97. The stock had a trading volume of 425,693 shares. Lazard has a 52-week low of $30.63 and a 52-week 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 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 2.40%. The ex-dividend date of this dividend is Thursday, May 8th.
Lazard Ltd (NYSE:LAZ) is holding company.
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