Lazard Ltd. (NYSE:LAZ) announced a quarterly dividend on Wednesday, July 26th, Fidelity reports. Stockholders of record on Monday, August 7th will be given a dividend of 0.41 per share by the asset manager on Friday, August 18th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Thursday, August 3rd.
Lazard has increased its dividend by an average of 25.7% per year over the last three years and has raised its dividend annually for the last 6 consecutive years. Lazard has a dividend payout ratio of 46.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Lazard to earn $3.66 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 44.8%.
Lazard (NYSE LAZ) traded down 0.35% during trading on Tuesday, hitting $45.59. 271,081 shares of the company were exchanged. The stock’s 50-day moving average is $46.40 and its 200-day moving average is $44.60. The company has a market capitalization of $5.54 billion, a price-to-earnings ratio of 12.92 and a beta of 1.84. Lazard has a 12 month low of $33.42 and a 12 month high of $48.86.
Lazard (NYSE:LAZ) last posted its quarterly earnings data on Thursday, July 27th. The asset manager reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.18. Lazard had a net margin of 17.39% and a return on equity of 39.33%. The business had revenue of $720.16 million during the quarter, compared to analyst estimates of $627.12 million. During the same quarter last year, the firm posted $0.61 earnings per share. The business’s revenue for the quarter was up 32.8% compared to the same quarter last year. Equities research analysts anticipate that Lazard will post $3.60 earnings per share for the current year.
LAZ has been the subject of several recent research reports. BidaskClub raised shares of Lazard from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Zacks Investment Research raised shares of Lazard from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Wednesday, June 7th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $51.00 price target on shares of Lazard in a research note on Tuesday, May 9th. ValuEngine upgraded shares of Lazard from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 28th. Finally, Credit Suisse Group reiterated a “buy” rating and issued a $50.00 price target on shares of Lazard in a research note on Friday, April 21st. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $46.89.
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In other news, CFO Matthieu Bucaille sold 90,000 shares of Lazard stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $44.81, for a total value of $4,032,900.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Scott D. Hoffman sold 35,000 shares of Lazard stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $45.13, for a total transaction of $1,579,550.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 190,000 shares of company stock worth $8,521,200. 2.50% of the stock is owned by corporate insiders.
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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