Q2 2023 Earnings Estimate for Lazard Ltd Issued By Zacks Research (NYSE:LAZ)

Posted by on Jul 16th, 2023

Lazard Ltd (NYSE:LAZ – Free Report) – Zacks Research lowered their Q2 2023 EPS estimates for Lazard in a report issued on Wednesday, July 12th. Zacks Research analyst R. Fatarpekar now expects that the asset manager will post earnings of $0.08 per share for the quarter, down from their previous forecast of $0.09. The consensus estimate for Lazard’s current full-year earnings is $0.93 per share. Zacks Research also issued estimates for Lazard’s Q3 2023 earnings at $0.33 EPS, Q4 2023 earnings at $0.63 EPS, Q2 2024 earnings at $0.90 EPS, Q3 2024 earnings at $1.02 EPS, Q4 2024 earnings at $1.22 EPS, FY2024 earnings at $3.86 EPS and FY2025 earnings at $4.75 EPS.

Lazard (NYSE:LAZ – Get Free Report) last issued its earnings results on Friday, April 28th. The asset manager reported ($0.26) EPS for the quarter, missing the consensus estimate of $0.30 by ($0.56). Lazard had a return on equity of 36.72% and a net margin of 8.20%. The firm had revenue of $561.20 million during the quarter, compared to analysts’ expectations of $549.62 million. During the same period in the previous year, the firm earned $1.05 earnings per share. The firm’s quarterly revenue was down 21.6% compared to the same quarter last year.

A number of other brokerages also recently issued reports on LAZ. Keefe, Bruyette & Woods raised shares of Lazard from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $31.00 to $36.00 in a research report on Thursday. Morgan Stanley raised shares of Lazard from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $36.00 to $43.00 in a research report on Wednesday. TheStreet downgraded shares of Lazard from a “b” rating to a “c” rating in a research report on Friday, April 28th. StockNews.com initiated coverage on shares of Lazard in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Wolfe Research raised shares of Lazard from an “underperform” rating to a “peer perform” rating in a research report on Monday, July 3rd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $42.00.

Lazard Stock Down 1.5 %

Shares of NYSE LAZ opened at $34.30 on Friday. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 3.32. The firm’s fifty day moving average is $30.58 and its 200 day moving average is $33.85. The company has a market cap of $3.87 billion, a price-to-earnings ratio of 15.95 and a beta of 1.40. Lazard has a 52 week low of $27.71 and a 52 week high of $43.44.

Lazard Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 19th. Stockholders of record on Monday, May 8th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.83%. The ex-dividend date was Friday, May 5th. Lazard’s dividend payout ratio (DPR) is presently 93.02%.

Institutional Trading of Lazard

A number of hedge funds have recently modified their holdings of the business. Secure Asset Management LLC boosted its holdings in shares of Lazard by 10.2% during the 2nd quarter. Secure Asset Management LLC now owns 51,400 shares of the asset manager’s stock valued at $1,645,000 after buying an additional 4,768 shares in the last quarter. Foundry Partners LLC boosted its stake in Lazard by 8.5% in the 2nd quarter. Foundry Partners LLC now owns 178,298 shares of the asset manager’s stock worth $5,706,000 after purchasing an additional 13,977 shares in the last quarter. Maryland State Retirement & Pension System boosted its stake in Lazard by 32.9% in the 2nd quarter. Maryland State Retirement & Pension System now owns 8,648 shares of the asset manager’s stock worth $277,000 after purchasing an additional 2,141 shares in the last quarter. SG Americas Securities LLC boosted its stake in Lazard by 668.6% in the 2nd quarter. SG Americas Securities LLC now owns 681,057 shares of the asset manager’s stock worth $21,794,000 after purchasing an additional 592,448 shares in the last quarter. Finally, O Keefe Stevens Advisory Inc. boosted its stake in Lazard by 20.8% in the 2nd quarter. O Keefe Stevens Advisory Inc. now owns 146,603 shares of the asset manager’s stock worth $4,691,000 after purchasing an additional 25,263 shares in the last quarter. Institutional investors own 55.74% of the company’s stock.

Lazard Company Profile

(Get Free Report)

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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