Lazard Price Target Raised to $54.00 at Citigroup Inc. (LAZ)
Equities research analysts at Citigroup Inc. boosted their price objective on shares of Lazard (NYSE:LAZ) from $50.00 to $54.00 in a research note issued to investors on Monday. The firm currently has a “neutral” rating on the stock. Citigroup Inc.’s target price would suggest a potential upside of 2.88% from the stock’s previous close.
Lazard (NYSE:LAZ) traded down 0.69% on Monday, hitting $52.13. The stock had a trading volume of 283,127 shares. Lazard has a one year low of $30.63 and a one year high of $53.18. The stock’s 50-day moving average is $50.48 and its 200-day moving average is $46.43. The company has a market cap of $6.403 billion and a P/E ratio of 30.99. Lazard also saw a significant increase in short interest during the month of May. As of May 30th, there was short interest totalling 2,507,468 shares, an increase of 304.7% from the May 15th total of 619,588 shares. Based on an average daily trading volume, of 718,042 shares, the days-to-cover ratio is presently 3.5 days. Approximately 2.0% of the shares of the company are sold short.
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 $2.75 EPS for the current fiscal year.
LAZ has been the subject of a number of other recent research reports. Analysts at Zacks downgraded shares of Lazard from an “outperform” rating to a “neutral” rating in a research note on Friday. They now have a $54.00 price target on the stock. Separately, analysts at Bernstein initiated coverage on shares of Lazard in a research note on Tuesday, June 3rd. They set an “outperform” rating and a $60.00 price target on the stock. Finally, analysts at Sanford C. Bernstein initiated coverage on shares of Lazard in a research note on Tuesday, June 3rd. They set an “outperform” rating and a $60.00 price target on the stock. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $50.62.
Lazard Ltd (NYSE:LAZ) is a holding company.