FY2024 Earnings Estimate for Lazard Issued By Zacks Research

Lazard, Inc. (NYSE:LAZ) – Analysts at Zacks Research lowered their FY2024 EPS estimates for Lazard in a note issued to investors on Tuesday, December 3rd. Zacks Research analyst R. Department now anticipates that the asset manager will post earnings per share of $2.25 for the year, down from their prior estimate of $2.30. The consensus estimate for Lazard’s current full-year earnings is $2.27 per share. Zacks Research also issued estimates for Lazard’s Q4 2024 earnings at $0.69 EPS, Q2 2025 earnings at $0.80 EPS, Q3 2025 earnings at $1.09 EPS, Q1 2026 earnings at $1.35 EPS and Q2 2026 earnings at $1.32 EPS.

Lazard (NYSE:LAZ) last posted its quarterly earnings results on Thursday, October 31st. The asset manager reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.03). The firm had revenue of $646.00 million for the quarter, compared to analyst estimates of $644.22 million. Lazard had a net margin of 8.28% and a return on equity of 42.20%. The business’s revenue was up 21.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 earnings per share.

A number of other research analysts have also issued reports on the company. StockNews.com lowered Lazard from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Keefe, Bruyette & Woods boosted their price objective on Lazard from $59.00 to $65.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. JMP Securities boosted their price objective on Lazard from $55.00 to $59.00 and gave the company a “market outperform” rating in a research report on Friday, November 1st. Wells Fargo & Company initiated coverage on Lazard in a research report on Thursday, September 12th. They set an “equal weight” rating and a $51.00 price objective for the company. Finally, Morgan Stanley raised their target price on Lazard from $56.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Lazard currently has a consensus rating of “Hold” and a consensus target price of $53.00.

Lazard Stock Performance

LAZ stock opened at $55.82 on Thursday. Lazard has a 12-month low of $30.96 and a 12-month high of $61.14. The firm has a market cap of $6.29 billion, a P/E ratio of 22.24 and a beta of 1.38. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 2.72. The stock’s 50 day simple moving average is $53.82 and its 200 day simple moving average is $47.28.

Lazard Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $2.00 dividend on an annualized basis and a yield of 3.58%. Lazard’s dividend payout ratio (DPR) is 79.68%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Continuum Advisory LLC grew its position in Lazard by 58.9% in the second quarter. Continuum Advisory LLC now owns 890 shares of the asset manager’s stock worth $34,000 after buying an additional 330 shares during the last quarter. Central Asset Investments & Management Holdings HK Ltd boosted its stake in Lazard by 3.3% in the 2nd quarter. Central Asset Investments & Management Holdings HK Ltd now owns 18,392 shares of the asset manager’s stock worth $702,000 after purchasing an additional 589 shares during the period. Assetmark Inc. grew its position in Lazard by 12.2% during the 3rd quarter. Assetmark Inc. now owns 5,413 shares of the asset manager’s stock worth $273,000 after purchasing an additional 589 shares in the last quarter. Great Lakes Retirement Inc. raised its stake in Lazard by 3.5% during the 3rd quarter. Great Lakes Retirement Inc. now owns 18,646 shares of the asset manager’s stock valued at $939,000 after purchasing an additional 624 shares during the period. Finally, Richardson Financial Services Inc. lifted its holdings in shares of Lazard by 1,125.0% in the second quarter. Richardson Financial Services Inc. now owns 735 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 675 shares in the last quarter. Institutional investors and hedge funds own 54.80% of the company’s stock.

Lazard Company Profile

Lazard, Inc, together with its subsidiaries, operates as a financial advisory and asset management firm in North and South America, Europe, the Middle East, Asia, and Australia. It operates in two segments, Financial Advisory and Asset Management. The Financial Advisory segment offers financial advisory services, such as mergers and acquisitions, capital markets, shareholder, sovereign, geopolitical advisory, and other strategic advisory services, as well as restructuring and liability management, and capital raising and placement services.