Lazard Ltd (LAZ) Sees Large Volume Increase
Lazard Ltd (NYSE:LAZ) saw unusually-high trading volume on Tuesday . Approximately 1,137,255 shares traded hands during mid-day trading, an increase of 32% from the previous session’s volume of 860,774 shares.The stock last traded at $37.79 and had previously closed at $36.93.
LAZ has been the subject of a number of research analyst reports. TheStreet upgraded Lazard to a “buy” rating in a report on Thursday, August 18th. Nomura reiterated 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 reiterated a “buy” rating on shares of Lazard in a report on Tuesday, June 28th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $52.50.
The stock’s 50 day moving average is $33.90 and its 200 day moving average is $34.73. The firm has a market cap of $4.67 billion and a P/E ratio of 7.11.
Lazard (NYSE:LAZ) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.03. During the same period last year, the firm earned $0.98 EPS. The firm earned $542.30 million during the quarter, compared to analyst estimates of $542.68 million. Lazard’s quarterly revenue was down 11.9% on a year-over-year basis. On average, analysts predict that Lazard Ltd will post $2.92 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 19th. Stockholders of record on Monday, August 8th were issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 4.04%. The ex-dividend date of this dividend was Thursday, August 4th.
In related news, General Counsel Scott D. Hoffman sold 42,000 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $34.92, for a total value of $1,466,640.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jane L. Mendillo acquired 1,400 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was bought at an average cost of $35.22 per share, for a total transaction of $49,308.00. The disclosure for this purchase can be found here.
An institutional investor recently raised its position in Lazard stock. Stephens Inc. AR increased its stake in shares of Lazard Ltd (NYSE:LAZ) by 7.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 30,749 shares of the company’s stock after buying an additional 2,026 shares during the period. Stephens Inc. AR’s holdings in Lazard were worth $1,384,000 as of its most recent filing with the SEC.
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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