Lazard Ltd (LAZ) Trading 2.9% Higher
Shares of Lazard Ltd (NYSE:LAZ) traded up 2.9% during mid-day trading on Monday . The stock traded as high as $33.75 and last traded at $33.71, with a volume of 285,683 shares. The stock had previously closed at $32.77.
Several analysts have issued reports on the company. Nomura Holdings Inc. cut their price objective on Lazard from $52.00 to $49.00 and set a “buy” rating on the stock in a report on Friday, April 22nd. Nomura restated a “buy” rating and set a $46.00 price objective on shares of Lazard in a report on Wednesday, July 6th. Finally, Credit Suisse Group AG restated a “buy” rating on shares of Lazard in a report on Tuesday, June 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $51.78.
The firm has a market cap of $4.15 billion and a P/E ratio of 4.40. The firm’s 50-day moving average price is $32.27 and its 200 day moving average price is $34.92.
Lazard (NYSE:LAZ) last posted its quarterly earnings results on Thursday, April 21st. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by $0.15. The company earned $506 million during the quarter, compared to analyst estimates of $573.20 million. The firm’s revenue was down 12.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.77 EPS. Analysts forecast that Lazard Ltd will post $2.85 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of LAZ. Karp Capital Management Corp boosted its position in Lazard by 21.4% in the fourth quarter. Karp Capital Management Corp now owns 23,498 shares of the company’s stock valued at $1,058,000 after buying an additional 4,137 shares in the last quarter. BOKF NA boosted its position in Lazard by 0.3% in the fourth quarter. BOKF NA now owns 23,556 shares of the company’s stock valued at $1,060,000 after buying an additional 63 shares in the last quarter. Deere & Co. boosted its position in Lazard by 46.9% in the fourth quarter. Deere & Co. now owns 29,374 shares of the company’s stock valued at $1,322,000 after buying an additional 9,373 shares in the last quarter. Stephens Inc. AR boosted its position in Lazard by 7.1% in the fourth quarter. Stephens Inc. AR now owns 30,749 shares of the company’s stock valued at $1,384,000 after buying an additional 2,026 shares in the last quarter. Finally, Twin Capital Management Inc. boosted its position in Lazard by 29.1% in the fourth quarter. Twin Capital Management Inc. now owns 42,130 shares of the company’s stock valued at $1,896,000 after buying an additional 9,500 shares in the last quarter.
Lazard Ltd (Lazard) is a financial advisory and asset management company. The Company operates in two business segments: Financial Advisory and Asset Management. The Financial Advisory business segment offers corporate, partnership, institutional, government, sovereign and individual clients 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.
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