Wall Street analysts forecast that Lazard Ltd (NYSE:LAZ) will announce earnings of $1.01 per share for the current quarter, according to Zacks. Zero analysts have issued estimates for Lazard’s earnings. The highest EPS estimate is $1.08 and the lowest is $0.94. Lazard reported earnings of $0.83 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 21.7%. The firm is scheduled to report its next quarterly earnings results on Thursday, April 26th.
On average, analysts expect that Lazard will report full year earnings of $3.99 per share for the current year, with EPS estimates ranging from $3.61 to $4.35. For the next financial year, analysts expect that the business will post earnings of $4.34 per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow Lazard.
Lazard (NYSE:LAZ) last posted its quarterly earnings data on Thursday, February 1st. The asset manager reported $1.12 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.20. The business had revenue of $683.00 million during the quarter, compared to the consensus estimate of $658.86 million. Lazard had a negative net margin of 11.98% and a negative return on equity of 26.72%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.13 earnings per share.
Several equities research analysts recently weighed in on LAZ shares. Buckingham Research upped their price objective on shares of Lazard from $53.00 to $54.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Nomura upped their price objective on shares of Lazard from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. Zacks Investment Research downgraded shares of Lazard from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Instinet raised shares of Lazard from a “neutral” rating to a “buy” rating in a report on Wednesday, January 3rd. Finally, Goldman Sachs Group raised shares of Lazard from a “neutral” rating to a “buy” rating and set a $64.00 price target for the company in a report on Monday, January 8th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $60.56.
Lazard (LAZ) traded up $0.09 during mid-day trading on Friday, reaching $53.27. 642,686 shares of the company traded hands, compared to its average volume of 931,878. The firm has a market capitalization of $6,900.00, a P/E ratio of 27.74, a P/E/G ratio of 1.27 and a beta of 1.84. Lazard has a 1-year low of $40.50 and a 1-year high of $60.00. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.87.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Monday, February 12th will be issued a $0.116 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Friday, February 9th. Lazard’s payout ratio is 85.42%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. LSV Asset Management lifted its holdings in Lazard by 2.4% in the 4th quarter. LSV Asset Management now owns 3,839,794 shares of the asset manager’s stock valued at $201,589,000 after acquiring an additional 91,021 shares during the last quarter. TIAA CREF Investment Management LLC lifted its holdings in Lazard by 150.2% in the 4th quarter. TIAA CREF Investment Management LLC now owns 1,687,586 shares of the asset manager’s stock valued at $88,598,000 after acquiring an additional 1,013,087 shares during the last quarter. Strs Ohio lifted its holdings in Lazard by 13.1% in the 4th quarter. Strs Ohio now owns 1,680,000 shares of the asset manager’s stock valued at $88,200,000 after acquiring an additional 194,000 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in Lazard by 2.6% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 1,673,954 shares of the asset manager’s stock valued at $87,883,000 after acquiring an additional 42,381 shares during the last quarter. Finally, Deutsche Bank AG lifted its holdings in Lazard by 10.3% in the 4th quarter. Deutsche Bank AG now owns 1,350,662 shares of the asset manager’s stock valued at $70,907,000 after acquiring an additional 126,351 shares during the last quarter. 69.80% of the stock is owned by institutional investors.
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Lazard Company Profile
Lazard Ltd (Lazard) is a financial advisory and asset management company. The Company operates through two segments: Financial Advisory and Asset Management. It serves a range of clients around the world, including corporations, governments, institutions, partnerships and individuals. The Financial Advisory business segment offers corporate, partnership, institutional, government, sovereign and individual clients across the globe a range of financial advisory services regarding mergers and acquisitions (M&A) and other strategic matters, restructurings, capital structure, capital raising and various other financial matters to corporate, partnership, institutional, government, sovereign and individual clients.
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