FY2024 Earnings Forecast for Lazard Issued By Zacks Research

Lazard, Inc. (NYSE:LAZ) – Stock analysts at Zacks Research cut their FY2024 earnings per share estimates for Lazard in a research report issued to clients and investors on Thursday, November 21st. Zacks Research analyst R. Department now anticipates that the asset manager will earn $2.30 per share for the year, down from their previous estimate of $2.41. The consensus estimate for Lazard’s current full-year earnings is $2.31 per share. Zacks Research also issued estimates for Lazard’s Q1 2025 earnings at $0.83 EPS, Q4 2025 earnings at $1.51 EPS, FY2025 earnings at $4.26 EPS, Q3 2026 earnings at $1.56 EPS and FY2026 earnings at $5.95 EPS.

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

Other analysts have also issued reports about the company. Keefe, Bruyette & Woods lifted their price target on Lazard from $59.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Wells Fargo & Company assumed coverage on Lazard in a research report on Thursday, September 12th. They set an “equal weight” rating and a $51.00 target price for the company. Morgan Stanley increased their price target on shares of Lazard from $56.00 to $60.00 and gave the company an “overweight” rating in a research report on Monday, September 23rd. JMP Securities lifted their price objective on shares of Lazard from $55.00 to $59.00 and gave the stock a “market outperform” rating in a research report on Friday, November 1st. Finally, UBS Group boosted their target price on shares of Lazard from $49.00 to $52.00 and gave the company a “neutral” rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $53.00.

Lazard Trading Up 1.0 %

Shares of LAZ stock opened at $57.70 on Monday. The company has a debt-to-equity ratio of 2.72, a quick ratio of 2.24 and a current ratio of 2.24. The company has a market capitalization of $6.51 billion, a price-to-earnings ratio of 22.99 and a beta of 1.38. Lazard has a 52-week low of $27.14 and a 52-week high of $61.14. The company has a 50-day simple moving average of $52.49 and a two-hundred day simple moving average of $46.20.

Lazard Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date was Friday, November 8th. Lazard’s payout ratio is presently 79.68%.

Insiders Place Their Bets

In related news, Chairman Kenneth M. Jacobs sold 87,770 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $48.08, for a total transaction of $4,219,981.60. Following the completion of the sale, the chairman now directly owns 1,553,225 shares in the company, valued at $74,679,058. This represents a 5.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.86% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lazard

Hedge funds have recently modified their holdings of the company. TD Private Client Wealth LLC raised its position in Lazard by 1.7% during the 3rd quarter. TD Private Client Wealth LLC now owns 69,760 shares of the asset manager’s stock valued at $3,515,000 after purchasing an additional 1,190 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Lazard by 0.8% during the third quarter. Geode Capital Management LLC now owns 1,813,553 shares of the asset manager’s stock valued at $91,392,000 after buying an additional 15,151 shares during the period. MML Investors Services LLC bought a new position in shares of Lazard during the third quarter valued at approximately $296,000. Orion Portfolio Solutions LLC boosted its holdings in Lazard by 7.6% in the third quarter. Orion Portfolio Solutions LLC now owns 28,142 shares of the asset manager’s stock valued at $1,418,000 after acquiring an additional 1,987 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Lazard during the 3rd quarter valued at $1,399,000. Hedge funds and other institutional investors 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.