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Lazard (NYSE:LAZ) was downgraded by analysts at Raymond James to an “outperform” rating in a research report issued to clients and investors on Thursday.

Lazard (NYSE:LAZ) opened at 51.43 on Thursday. Lazard has a one year low of $31.48 and a one year high of $53.18. The stock has a 50-day moving average of $50.9 and a 200-day moving average of $47.01. The company has a market cap of $6.317 billion and a P/E ratio of 30.31. Lazard also saw a large decline in short interest in June. As of June 13th, there was short interest totalling 434,064 shares, a decline of 82.7% from the May 30th total of 2,507,468 shares. Approximately 0.3% of the company’s shares are sold short. Based on an average trading volume of 713,053 shares, the days-to-cover ratio is presently 0.6 days.

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 $2.76 earnings per share for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Lazard in a research note on Monday, June 23rd. 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 analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Lazard currently has an average rating of “Buy” and an average price target of $50.00.

Lazard Ltd (NYSE:LAZ) is a holding company.

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