Lazard, Inc. (NYSE:LAZ – Free Report) – Equities research analysts at Seaport Res Ptn cut their FY2024 earnings per share estimates for shares of Lazard in a report released on Monday, January 13th. Seaport Res Ptn analyst J. Mitchell now anticipates that the asset manager will earn $2.08 per share for the year, down from their prior estimate of $2.30. The consensus estimate for Lazard’s current full-year earnings is $2.18 per share. Seaport Res Ptn also issued estimates for Lazard’s Q1 2025 earnings at $0.68 EPS, Q2 2025 earnings at $0.75 EPS, Q4 2025 earnings at $1.45 EPS, FY2025 earnings at $3.80 EPS and FY2026 earnings at $4.80 EPS.
Other equities research analysts also recently issued reports about the stock. JMP Securities boosted their target price 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. Wolfe Research lowered Lazard from an “outperform” rating to a “peer perform” rating in a report on Friday, January 3rd. Keefe, Bruyette & Woods dropped their target price on Lazard from $57.00 to $52.00 and set a “market perform” rating on the stock in a report on Monday. UBS Group upped their price target on Lazard from $49.00 to $52.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Finally, Morgan Stanley lowered Lazard from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $60.00 to $63.00 in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $53.17.
Lazard Stock Performance
LAZ opened at $46.78 on Tuesday. Lazard has a 1-year low of $35.56 and a 1-year high of $61.14. The company has a market cap of $5.28 billion, a price-to-earnings ratio of 18.64 and a beta of 1.40. The company’s fifty day moving average price is $53.90 and its two-hundred day moving average price is $49.89. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 2.72.
Lazard (NYSE:LAZ – Get Free Report) last issued its earnings results on Thursday, October 31st. The asset manager reported $0.38 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.03). Lazard had a return on equity of 42.20% and a net margin of 8.28%. The firm had revenue of $646.00 million for the quarter, compared to analyst estimates of $644.22 million. During the same period in the previous year, the company earned $0.10 earnings per share. Lazard’s revenue for the quarter was up 21.4% compared to the same quarter last year.
Lazard Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were paid a $0.50 dividend. The ex-dividend date was Friday, November 8th. This represents a $2.00 annualized dividend and a yield of 4.28%. Lazard’s payout ratio is 79.68%.
Institutional Trading of Lazard
A number of large investors have recently bought and sold shares of LAZ. Richardson Financial Services Inc. lifted its position in shares of Lazard by 1,125.0% during the 2nd quarter. Richardson Financial Services Inc. now owns 735 shares of the asset manager’s stock valued at $28,000 after buying an additional 675 shares during the last quarter. Abich Financial Wealth Management LLC purchased a new stake in Lazard during the third quarter valued at about $50,000. Redwood Wealth Management Group LLC bought a new position in Lazard during the second quarter worth about $87,000. My Legacy Advisors LLC purchased a new position in shares of Lazard in the third quarter worth about $215,000. Finally, King Wealth Management Group bought a new stake in shares of Lazard in the third quarter valued at approximately $227,000. 54.80% of the stock is owned by hedge funds and other institutional investors.
About Lazard
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.
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