Lazard Ltd (LAZ) Trading Up 2.9%
Lazard Ltd (NYSE:LAZ) was up 2.9% during trading on Monday . The stock traded as high as $33.75 and last traded at $33.71, with a volume of 285,683 shares changing hands. The stock had previously closed at $32.77.
Several equities research analysts have recently commented on LAZ shares. Nomura Holdings Inc. reduced their price target on shares of Lazard from $52.00 to $49.00 and set a “buy” rating for the company in a report on Friday, April 22nd. Credit Suisse Group AG restated a “buy” rating on shares of Lazard in a report on Tuesday, June 28th. Finally, Nomura restated a “buy” rating and issued a $46.00 price target on shares of Lazard in a report on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Lazard currently has an average rating of “Buy” and an average price target of $51.78.
The firm has a 50 day moving average of $32.29 and a 200-day moving average of $35.17. The company has a market cap of $4.26 billion and a P/E ratio of 4.52.
Lazard (NYSE:LAZ) last announced its earnings results on Thursday, April 21st. The company reported $0.50 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.15. During the same period in the previous year, the business posted $0.77 earnings per share. The business had revenue of $506 million for the quarter, compared to the consensus estimate of $573.20 million. Lazard’s revenue for the quarter was down 12.9% compared to the same quarter last year. On average, analysts expect that Lazard Ltd will post $2.85 earnings per share for the current year.
Other hedge funds and institutional investors recently made changes to their positions in the company. Deere & Co. raised its position 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 during the period. Bank of Montreal Can raised its position in Lazard by 15,489.4% in the fourth quarter. Bank of Montreal Can now owns 768,556 shares of the company’s stock valued at $34,594,000 after buying an additional 763,626 shares during the last quarter. Rhumbline Advisers raised its position in Lazard by 1.0% in the fourth quarter. Rhumbline Advisers now owns 118,824 shares of the company’s stock valued at $5,348,000 after buying an additional 1,175 shares during the last quarter. Pinnacle Associates Ltd. raised its position in Lazard by 65.2% in the fourth quarter. Pinnacle Associates Ltd. now owns 699,199 shares of the company’s stock valued at $31,471,000 after buying an additional 275,964 shares during the last quarter. Finally, BOKF NA raised 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 during 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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