Lazard Ltd (NYSE:LAZ) declared a quarterly dividend on Thursday, January 18th, Zacks reports. Stockholders of record on Monday, February 12th will be given a dividend of 0.116 per share by the asset manager on Friday, February 23rd. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, February 9th.
Lazard has raised its dividend payment by an average of 10.3% annually over the last three years and has raised its dividend every year for the last 7 years. Lazard has a dividend payout ratio of 46.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Lazard to earn $3.87 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 42.4%.
Lazard (LAZ) traded up $1.44 during mid-day trading on Friday, hitting $57.97. 701,682 shares of the stock were exchanged, compared to its average volume of 725,115. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.09 and a quick ratio of 2.09. Lazard has a one year low of $40.37 and a one year high of $58.42. The company has a market capitalization of $7,520.00, a price-to-earnings ratio of 16.19, a P/E/G ratio of 1.39 and a beta of 1.89.
Lazard announced that its Board of Directors has authorized a share buyback program on Wednesday, October 25th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the asset manager to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
A number of brokerages have recently weighed in on LAZ. Sandler O’Neill reaffirmed a “buy” rating and issued a $64.00 target price on shares of Lazard in a research note on Thursday, January 11th. Goldman Sachs Group raised shares of Lazard from a “neutral” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Monday, January 8th. Nomura raised shares of Lazard from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $46.00 to $62.00 in a research note on Wednesday, January 3rd. Instinet raised shares of Lazard from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 3rd. Finally, Zacks Investment Research downgraded shares of Lazard from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $53.80.
Lazard Company Profile
Lazard Ltd (Lazard) is a financial advisory and asset management company. The Company operates through two segments: Financial Advisory and Asset Management. It serves a range of clients around the world, including corporations, governments, institutions, partnerships and individuals. The Financial Advisory business segment offers corporate, partnership, institutional, government, sovereign and individual clients across the globe a range of financial advisory services regarding mergers and acquisitions (M&A) and other strategic matters, restructurings, capital structure, capital raising and various other financial matters to corporate, partnership, institutional, government, sovereign and individual clients.
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