Lazard Ltd (NYSE:LAZ) Expected to Post Earnings of $0.92 Per Share

Analysts forecast that Lazard Ltd (NYSE:LAZGet Rating) will post earnings of $0.92 per share for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Lazard’s earnings, with the highest EPS estimate coming in at $1.02 and the lowest estimate coming in at $0.86. Lazard posted earnings per share of $1.28 during the same quarter last year, which indicates a negative year-over-year growth rate of 28.1%. The firm is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Lazard will report full-year earnings of $4.22 per share for the current year, with EPS estimates ranging from $3.81 to $4.45. For the next fiscal year, analysts anticipate that the business will report earnings of $4.54 per share, with EPS estimates ranging from $4.26 to $4.86. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Lazard.

Lazard (NYSE:LAZGet Rating) last issued its quarterly earnings results on Thursday, April 28th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.18. The business had revenue of $716.14 million for the quarter, compared to the consensus estimate of $677.58 million. Lazard had a net margin of 16.76% and a return on equity of 59.55%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 EPS.

Several brokerages have weighed in on LAZ. JMP Securities dropped their price objective on Lazard from $58.00 to $56.00 and set a “market outperform” rating for the company in a report on Thursday, April 7th. Keefe, Bruyette & Woods cut Lazard from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $52.00 to $49.00 in a report on Friday, February 4th. Wolfe Research cut Lazard from a “peer perform” rating to an “underperform” rating and set a $39.00 price target for the company. in a research note on Thursday, April 7th. Morgan Stanley cut Lazard from an “overweight” rating to an “equal weight” rating and set a $40.00 price target for the company. in a research note on Tuesday, March 8th. Finally, Piper Sandler lowered their price target on Lazard from $49.00 to $45.00 and set an “overweight” rating for the company in a research note on Thursday, April 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Lazard has a consensus rating of “Hold” and a consensus price target of $45.86.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. CIBC Asset Management Inc increased its stake in Lazard by 5.9% during the 4th quarter. CIBC Asset Management Inc now owns 4,916 shares of the asset manager’s stock worth $214,000 after purchasing an additional 274 shares in the last quarter. Empire Life Investments Inc. raised its holdings in shares of Lazard by 1.7% in the third quarter. Empire Life Investments Inc. now owns 16,422 shares of the asset manager’s stock valued at $752,000 after purchasing an additional 277 shares during the last quarter. Lesa Sroufe & Co lifted its position in shares of Lazard by 0.5% in the first quarter. Lesa Sroufe & Co now owns 55,773 shares of the asset manager’s stock worth $2,434,000 after purchasing an additional 290 shares in the last quarter. Panagora Asset Management Inc. boosted its holdings in Lazard by 4.3% during the third quarter. Panagora Asset Management Inc. now owns 7,952 shares of the asset manager’s stock worth $364,000 after purchasing an additional 325 shares during the last quarter. Finally, Advisor Group Holdings Inc. grew its position in Lazard by 2.6% in the third quarter. Advisor Group Holdings Inc. now owns 13,791 shares of the asset manager’s stock valued at $632,000 after purchasing an additional 347 shares in the last quarter.

NYSE:LAZ traded down $1.24 on Friday, hitting $32.80. 949,264 shares of the stock were exchanged, compared to its average volume of 792,114. Lazard has a 52 week low of $31.64 and a 52 week high of $53.00. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.75 and a current ratio of 1.75. The company’s 50-day moving average price is $34.26 and its 200 day moving average price is $40.52.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 20th. Investors of record on Monday, May 9th will be paid a dividend of $0.47 per share. The ex-dividend date is Friday, May 6th. This represents a $1.88 dividend on an annualized basis and a yield of 5.73%. Lazard’s payout ratio 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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Earnings History and Estimates for Lazard (NYSE:LAZ)

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