Lazard Stock Rating Upgraded by S&P Equity Research (LAZ)
Lazard (NYSE:LAZ) was upgraded by investment analysts at S&P Equity Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Friday. The firm currently has a $42.00 target price on the stock, down from their previous target price of $44.00. S&P Equity Research’s target price indicates a potential downside of 15.95% from the company’s current price.
Lazard (NYSE:LAZ) traded up 0.06% on Friday, 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 price-to-earnings 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 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. 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. Shareholders 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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