Lazard Hits New 12-Month High at $55.50 (LAZ)
Shares of Lazard (NYSE:LAZ) reached a new 52-week high during mid-day trading on Tuesday , Analyst Ratings Network reports. The company traded as high as $55.50 and last traded at $54.99, with a volume of 239,780 shares traded. The stock had previously closed at $54.66.
A number of research firms have recently commented on LAZ. Analysts at Buckingham Research upgraded shares of Lazard from a “neutral” rating to a “buy” rating in a research note on Thursday, August 21st. They now have a $64.00 price target on the stock. Separately, 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. Finally, 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. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $54.64.
The stock has a 50-day moving average of $52.13 and a 200-day moving average of $49.15. The company has a market cap of $6.673 billion and a price-to-earnings ratio of 26.15.
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 $2.90 EPS for the current fiscal year.
Lazard Ltd (NYSE:LAZ) is a holding company.
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