NEW YORK (

TheStreet

) -- Shares of

Lazard

(NYSE:

LAZ

) were gapping up Thursday morning with an open price 23.5% higher than Wednesday's closing price. The stock closed at $24.78 Wednesday and opened today's trading at $30.60.

The average volume for Lazard has been 1.1 million shares per day over the past 30 days. Lazard has a market cap of $2.8 billion and is part of the

financial

sector and

financial services

industry. Shares are down 37.2% year to date as of the close of trading on Wednesday.

Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm. The company has a P/E ratio of 11, equal to the average financial services industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Lazard as a

hold

. The company's strengths can be seen in multiple areas, such as its revenue growth, notable return on equity and impressive record of earnings per share growth. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, generally poor debt management and weak operating cash flow. You can view the full

Lazard Ratings Report

.

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