Lazard Ltd (LAZ) Stock Price Up 4.6%
Shares of Lazard Ltd (NYSE:LAZ) rose 4.6% during mid-day trading on Thursday . The company traded as high as $30.87 and last traded at $30.73, with a volume of 823,857 shares. The stock had previously closed at $29.39.
LAZ has been the subject of a number of research analyst reports. Credit Suisse Group AG reissued a “buy” rating on shares of Lazard in a research report on Tuesday, June 28th. Nomura Holdings Inc. dropped their target price on shares of Lazard from $52.00 to $49.00 and set a “buy” rating for the company in a research report on Friday, April 22nd. Finally, Nomura reissued a “buy” rating and set a $46.00 target price on shares of Lazard in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given 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 target price of $51.78.
The company’s 50-day moving average is $32.63 and its 200-day moving average is $35.60. The firm has a market capitalization of $3.84 billion and a P/E ratio of 4.08.
Lazard (NYSE:LAZ) last announced its quarterly earnings results on Thursday, April 21st. The company reported $0.50 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.15. During the same period last year, the company posted $0.77 EPS. The firm earned $506 million during the quarter, compared to analyst estimates of $573.20 million. Lazard’s revenue was down 12.9% compared to the same quarter last year. On average, equities analysts anticipate that Lazard Ltd will post $2.86 earnings per share for the current year.
Other large investors have recently made changes to their positions in the company. Karp Capital Management Corp raised its stake in shares of 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 raised its stake in shares of 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. raised its stake in shares of 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 raised its stake in shares of 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. raised its stake in shares of 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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