Lazard Given New $40.00 Price Target at S&P Equity Research (LAZ)
Equities researchers at S&P Equity Research cut their price objective on shares of Lazard (NYSE:LAZ) from $42.00 to $40.00 in a research report issued on Monday. The firm currently has a “strong-buy” rating on the stock. S&P Equity Research’s price target indicates a potential downside of 19.95% from the stock’s previous close.
Shares of Lazard (NYSE:LAZ) traded up 0.06% during mid-day trading on Monday, hitting $49.97. 425,693 shares of the company’s stock traded hands. Lazard has a 52-week low of $30.63 and a 52-week high of $50.61. The stock’s 50-day moving average is $47.85 and its 200-day moving average is $45.02. The company has a market cap of $6.138 billion and a price-to-earnings 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 (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. 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. Stockholders 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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