Lazard Ltd (NYSE:LAZ) announced a quarterly dividend on Wednesday, July 24th, NASDAQ reports. Shareholders of record on Monday, August 5th will be given a dividend of 0.47 per share by the asset manager on Friday, August 16th. This represents a $1.88 annualized dividend and a yield of 4.87%. The ex-dividend date of this dividend is Friday, August 2nd.
Lazard has increased its dividend payment by an average of 8.6% annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Lazard has a dividend payout ratio of 41.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Lazard to earn $3.95 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 47.6%.
NYSE:LAZ opened at $38.64 on Wednesday. The stock has a market cap of $5.01 billion, a P/E ratio of 9.29, a PEG ratio of 7.70 and a beta of 1.67. Lazard has a twelve month low of $31.07 and a twelve month high of $54.64. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.77 and a current ratio of 1.77. The stock’s 50 day moving average is $35.49.
Several research firms have recently commented on LAZ. Bank of America set a $7.00 price objective on shares of Deutsche Bank and gave the company a “sell” rating in a report on Thursday, April 11th. Buckingham Research dropped their price objective on shares of PJT Partners from $49.00 to $42.00 and set a “neutral” rating on the stock in a report on Thursday, July 11th. UBS Group raised shares of China Unicom (Hong Kong) from a “neutral” rating to a “buy” rating in a report on Monday, June 10th. Finally, Zacks Investment Research downgraded shares of Green Plains Partners from a “buy” rating to a “hold” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $40.33.
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.
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