Lazard Receives Consensus Recommendation of “Buy” from Brokerages (NYSE:LAZ)
Lazard (NYSE:LAZ) has received an average recommendation of “Buy” from the fifteen analysts that are presently covering the company, ARN reports. Four research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $50.62.
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.
Lazard (NYSE:LAZ) traded down 3.45% during mid-day trading on Thursday, hitting $50.10. The stock had a trading volume of 827,610 shares. Lazard has a 52 week low of $30.72 and a 52 week high of $53.18. The stock has a 50-day moving average of $50.67 and a 200-day moving average of $46.70. The company has a market cap of $6.154 billion and a P/E ratio of 30.63. Lazard also was 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. Approximately 2.0% of the shares of the stock are sold short. Based on an average trading volume of 718,042 shares, the short-interest ratio is presently 3.5 days.
Lazard (NYSE:LAZ) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.61 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.28 earnings per share. The company’s quarterly revenue was up 30.4% on a year-over-year basis. 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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