Lazard Ltd (NYSE:LAZ – Get Rating) – Seaport Res Ptn dropped their Q2 2022 earnings per share (EPS) estimates for Lazard in a research report issued to clients and investors on Thursday, April 28th. Seaport Res Ptn analyst J. Mitchell now expects that the asset manager will post earnings per share of $0.87 for the quarter, down from their previous forecast of $1.02.
A number of other equities analysts have also weighed in on LAZ. JMP Securities lowered their price objective on Lazard from $58.00 to $56.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 7th. Morgan Stanley downgraded Lazard from an “overweight” rating to an “equal weight” rating and set a $40.00 price objective on the stock. in a report on Tuesday, March 8th. Keefe, Bruyette & Woods downgraded Lazard from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $52.00 to $49.00 in a report on Friday, February 4th. StockNews.com downgraded Lazard from a “buy” rating to a “hold” rating in a report on Wednesday, April 27th. Finally, Wolfe Research downgraded Lazard from a “peer perform” rating to an “underperform” rating and set a $39.00 price objective on the stock. in a report on Thursday, April 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, Lazard has an average rating of “Hold” and a consensus price target of $46.25.
Lazard (NYSE:LAZ – Get Rating) last issued its quarterly earnings results on Thursday, April 28th. The asset manager reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.18. The firm had revenue of $716.14 million during the quarter, compared to analysts’ expectations of $677.58 million. Lazard had a return on equity of 59.16% and a net margin of 16.76%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.87 earnings per share.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Huntington National Bank purchased a new position in shares of Lazard in the 4th quarter valued at about $38,000. Bessemer Group Inc. purchased a new position in shares of Lazard in the 4th quarter valued at about $55,000. Neo Ivy Capital Management purchased a new position in shares of Lazard in the 4th quarter valued at about $86,000. Altshuler Shaham Ltd increased its holdings in shares of Lazard by 119.8% in the 3rd quarter. Altshuler Shaham Ltd now owns 2,743 shares of the asset manager’s stock valued at $126,000 after acquiring an additional 1,495 shares during the last quarter. Finally, Eagle Bay Advisors LLC increased its holdings in shares of Lazard by 100.0% in the 3rd quarter. Eagle Bay Advisors LLC now owns 2,858 shares of the asset manager’s stock valued at $130,000 after acquiring an additional 1,429 shares during the last quarter.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 20th. Shareholders of record on Monday, May 9th will be issued a dividend of $0.47 per share. The ex-dividend date is Friday, May 6th. This represents a $1.88 annualized dividend and a yield of 5.74%. Lazard’s dividend payout ratio (DPR) is 38.13%.
Lazard Company Profile (Get Rating)
Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm in North America, Europe, Asia, Australia, and Central and South America. It operates in two segments, Financial Advisory and Asset Management. The Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions, restructurings, capital advisory, shareholder advisory, capital raising, sovereign advisory, and other strategic advisory matters.
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