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. Get more investment ideas from our investment research center. Interested in other stocks that are gapping up? Get free SMS text alerts sent to you when the action happens by texting UP to 95370 or select from multiple alert options.