Wall Street brokerages expect Lazard Ltd (NYSE: LAZ) to post revenue of $ 841.26 million for the current quarter, according to Zacks Investment Research. Two analysts made estimates for Lazard’s earnings. The highest sales estimate is $ 847.21 million and the lowest is $ 835.30 million. Lazard reported revenue of $ 848.77 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 0.9%. The company is expected to report its next results on Friday, February 4.
On average, analysts expect Lazard to report annual revenue of $ 3.05 billion for the current fiscal year, with estimates ranging from $ 3.01 billion to $ 3.12 billion. dollars. For next year, analysts predict the company will post sales of $ 3.16 billion, with estimates ranging from $ 3.07 billion to $ 3.25 billion. Zacks’ sales calculations are an average based on a survey of research analysts who cover Lazard.
Lazard (NYSE: LAZ) last reported its results on Friday, October 29. The asset manager announced EPS of $ 0.98 for the quarter, beating the consensus estimate of $ 0.95 by $ 0.03. The company posted revenue of $ 702.00 million in the quarter, compared to analysts’ expectations of $ 711.97 million. Lazard had a net margin of 16.07% and a return on equity of 58.36%. The company’s revenue for the quarter increased 23.4% year-over-year. During the same period last year, the company posted earnings per share of $ 0.67.
Several research firms recently commented on LAZ. Keefe, Bruyette & Woods upgraded Lazard shares from a “market performance” rating to an “outperformance” rating and raised their target price for the share from $ 53.00 to $ 58.00 in a report published on Thursday, September 30. Zacks Investment Research downgraded Lazard shares from a “buy” rating to a “hold” rating and set a price target of $ 49.00 for the stock. in a research report on Wednesday, September 29. Two investment analysts gave the stock a conservation rating and four gave the company a buy rating. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $ 52.33.
LAZ stock opened at $ 47.92 on Monday. The company has a debt to equity ratio of 1.72, a quick ratio of 1.88, and a current ratio of 1.79. The stock has a market cap of $ 5.03 billion, a P / E ratio of 10.87 and a beta of 1.51. The company has a 50-day simple moving average of $ 48.57 and a 200-day simple moving average of $ 47.00. Lazard has a 52 week low of $ 35.17 and a 52 week high of $ 53.00.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 19. Shareholders of record on Monday, November 8 will receive a dividend of $ 0.47. This represents a dividend of $ 1.88 on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Friday, November 5. Lazard’s dividend payout ratio is 42.63%.
Meanwhile, President Alexander F. Stern sold 90,000 shares of the company in a transaction on Friday, August 20. The shares were sold at an average price of $ 45.50, for a total transaction of $ 4,095,000.00. The sale was disclosed in a document filed with the SEC, which is available on the SEC’s website. In addition, CAO Dominick Ragone sold 19,892 Lazard shares in a trade on Tuesday August 31. The stock was sold for an average price of $ 47.54, for a total trade of $ 945,665.68. Disclosure of this sale can be found here. Insiders own 3.40% of the shares of the company.
A number of institutional investors and hedge funds have recently bought and sold shares in the company. Samalin Investment Counsel LLC acquired a new equity stake in Lazard in the 2nd quarter valued at $ 33,000. Dark Forest Capital Management LP acquired a new equity stake in Lazard in the 2nd quarter valued at $ 34,000. Steward Partners Investment Advisory LLC increased its position in Lazard by 79.9% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,126 shares of the asset manager worth $ 51,000 after purchasing an additional 500 shares in the last quarter. Eagle Bay Advisors LLC acquired a new position in Lazard during the second quarter valued at approximately $ 66,000. Finally, US Bancorp DE increased its position in Lazard by 223.1% during the second quarter. US Bancorp DE now owns 2,252 shares of the asset manager worth $ 102,000 after purchasing an additional 1,555 shares in the last quarter. Hedge funds and other institutional investors hold 75.68% of the company’s shares.
Lazard Ltd. is a financial advisory and asset management firm, committed to providing craft solutions to clients, including businesses, governments, institutions, partnerships and individuals. It operates through the Financial Advisory and Asset Management segments. The Financial Advisory segment offers companies, partnerships, institutions, governments, sovereigns and individuals a range of financial advisory services relating to mergers and acquisitions, restructurings, capital structure, capital raising and preparation. enterprises.
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