Short Interest in Lazard Expands By 304.7% (LAZ)
Shares of Lazard (NYSE:LAZ) were the target of a large growth in short interest during the month of May. As of May 30th, there was short interest totalling 2,507,468 shares, a growth of 304.7% from the May 15th total of 619,588 shares, Stock Ratings News reports. 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 company’s stock are short sold.
LAZ has been the subject of a number of recent research reports. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Lazard in a research note on Monday. They now have a $54.00 price target on the stock, up previously from $50.00. Separately, analysts at Zacks downgraded shares of Lazard from an “outperform” rating to a “neutral” rating in a research note on Friday, June 20th. They now have a $54.00 price target on the stock. Finally, 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. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $50.62.
Lazard (NYSE:LAZ) opened at 51.38 on Wednesday. Lazard has a one year low of $30.72 and a one year high of $53.18. The stock’s 50-day moving average is $50.5 and its 200-day moving average is $46.66. The company has a market cap of $6.311 billion and a P/E ratio of 30.91.
Lazard (NYSE:LAZ) last announced its 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. On average, analysts predict that Lazard will post $2.75 earnings per share for the current fiscal year.
Lazard Ltd (NYSE:LAZ) is a holding company.
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