Lazard Lifted to “Buy” at Buckingham Research (LAZ)
Lazard (NYSE:LAZ) was upgraded by equities research analysts at Buckingham Research from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports.
A number of other analysts have also recently weighed in on LAZ. Analysts at Argus raised their price target on shares of Lazard from $55.00 to $60.00 in a research note on Tuesday, August 5th. 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. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $52.64.
Shares of Lazard (NYSE:LAZ) opened at 53.56 on Thursday. Lazard has a 52 week low of $33.62 and a 52 week high of $54.10. The stock’s 50-day moving average is $51.59 and its 200-day moving average is $48.64. The company has a market cap of $6.536 billion and a price-to-earnings ratio of 25.30.
Lazard (NYSE:LAZ) last announced its earnings results on Thursday, July 24th. The company reported $0.64 EPS for the quarter, beating the Thomson Reuters 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 last year, the company posted $0.45 earnings per share. Lazard’s revenue was up 5.7% compared to the same quarter last year. On average, analysts predict that Lazard will post $2.90 earnings per share for the current fiscal year.
Lazard Ltd (NYSE:LAZ) is a holding company.
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