Lazard Receives Consensus Recommendation of “Buy” from Analysts (NYSE:LAZ)
Shares of Lazard (NYSE:LAZ) have received a consensus rating of “Buy” from the twelve ratings firms that are currently covering the stock, Stock Ratings News reports. Three analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $52.64.
Shares of Lazard (NYSE:LAZ) traded down 0.45% during mid-day trading on Friday, hitting $49.685. 135,712 shares of the company’s stock traded hands. Lazard has a 52-week low of $33.62 and a 52-week high of $54.10. The stock has a 50-day moving average of $51.58 and a 200-day moving average of $48.16. The company has a market cap of $6.063 billion and a P/E ratio of 23.88.
Lazard (NYSE:LAZ) last announced its earnings results on Thursday, July 24th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.06. The company had revenue of $571.00 million for the quarter, compared to the consensus estimate of $530.30 million. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was up 5.7% on a year-over-year basis. Analysts expect that Lazard will post $2.91 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 15th. Investors of record on Monday, August 4th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Thursday, July 31st.
Several analysts have recently commented on the stock. Analysts at Argus raised their price target on shares of Lazard from $55.00 to $60.00 in a research note on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Lazard in a research note on Monday, July 28th. They now have a $56.00 price target on the stock, up previously from $54.00. Finally, analysts at Raymond James reiterated an “outperform” rating on shares of Lazard in a research note on Friday, July 25th. They now have a $60.00 price target on the stock, up previously from $58.00.
Lazard Ltd (NYSE:LAZ) is a holding company.
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