Share on StockTwits

Research analysts at JMP Securities increased their target price on shares of Lazard (NYSE:LAZ) from $54.00 to $56.00 in a report released on Friday. JMP Securities’ target price would suggest a potential upside of 9.48% from the company’s current price.

Lazard (NYSE:LAZ) traded down 0.31% on Friday, hitting $50.99. 316,034 shares of the company’s stock traded hands. Lazard has a 52-week low of $32.31 and a 52-week high of $53.18. The stock’s 50-day moving average is $51.23 and its 200-day moving average is $47.28. The company has a market cap of $6.263 billion and a P/E ratio of 30.19. Lazard also was the target of a large drop in short interest in June. As of June 13th, there was short interest totalling 434,064 shares, a drop of 82.7% from the May 30th total of 2,507,468 shares. Currently, 0.3% of the company’s stock are sold short. Based on an average daily volume of 713,053 shares, the days-to-cover ratio is currently 0.6 days.

Lazard (NYSE:LAZ) last issued its quarterly earnings data 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 $2.78 earnings per share for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Zacks upgraded shares of Lazard from a “neutral” rating to an “outperform” rating in a research note on Wednesday. They now have a $56.00 price target on the stock. Separately, analysts at Raymond James downgraded shares of Lazard from a “strong-buy” rating to an “outperform” rating in a research note on Thursday, July 3rd. They now have a $58.00 price target on the stock. Finally, 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. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Lazard currently has an average rating of “Buy” and an average target price of $50.92.

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

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.