Lazard Ltd (NYSE:LAZ) declared a quarterly dividend on Wednesday, July 29th, Zacks reports. Stockholders of record on Monday, August 10th will be paid a dividend of 0.47 per share by the asset manager on Friday, August 21st. This represents a $1.88 dividend on an annualized basis and a dividend yield of 6.44%. The ex-dividend date is Friday, August 7th.
Lazard has increased its dividend by an average of 24.2% per year over the last three years and has increased its dividend every year for the last 9 years. Lazard has a payout ratio of 113.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Lazard to earn $3.33 per share next year, which means the company should continue to be able to cover its $1.88 annual dividend with an expected future payout ratio of 56.5%.
Shares of NYSE:LAZ traded up $1.47 during midday trading on Friday, reaching $29.17. The company’s stock had a trading volume of 315,364 shares, compared to its average volume of 453,378. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 13.50 and a beta of 1.77. The company has a debt-to-equity ratio of 4.12, a quick ratio of 1.69 and a current ratio of 1.69. The firm has a 50 day moving average price of $28.70 and a two-hundred day moving average price of $31.31. Lazard has a fifty-two week low of $20.94 and a fifty-two week high of $44.95.
Lazard (NYSE:LAZ) last announced its quarterly earnings data on Thursday, April 30th. The asset manager reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.04). Lazard had a net margin of 9.89% and a return on equity of 52.29%. The business had revenue of $563.00 million during the quarter, compared to analyst estimates of $585.73 million. During the same period in the prior year, the firm earned $0.87 earnings per share. The firm’s revenue for the quarter was down 9.2% compared to the same quarter last year. As a group, research analysts anticipate that Lazard will post 1.65 earnings per share for the current year.
A number of research analysts recently weighed in on LAZ shares. Morgan Stanley dropped their price target on Lazard from $39.00 to $28.00 and set an “underweight” rating on the stock in a research note on Thursday, April 9th. Credit Suisse Group started coverage on Lazard in a research note on Monday, June 22nd. They set a “neutral” rating and a $32.00 price target on the stock. UBS Group upped their price target on Lazard from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday, May 4th. Argus dropped their price target on Lazard from $51.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, May 6th. Finally, ValuEngine raised Lazard from a “sell” rating to a “hold” rating in a research note on Thursday, July 9th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $35.44.
Lazard Company Profile
Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm worldwide. Its Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions and other strategic matters, restructurings, capital structure, capital raising, shareholder advisory, and various other financial matters.
Further Reading: Trading signals using Bollinger bands
Receive News & Ratings for Lazard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lazard and related companies with MarketBeat.com's FREE daily email newsletter.