Skip to main content

Q2 2021 EPS Estimates for Lazard Ltd Decreased by Analyst (NYSE:LAZ)

Last updated on Wednesday, May 5, 2021 | 2021 MarketBeat

Lazard Ltd (NYSE:LAZ) - Stock analysts at Piper Sandler cut their Q2 2021 earnings per share (EPS) estimates for shares of Lazard in a report released on Monday, May 3rd. Piper Sandler analyst J. Harte now expects that the asset manager will post earnings per share of $0.83 for the quarter, down from their prior forecast of $0.84. Piper Sandler also issued estimates for Lazard's Q4 2021 earnings at $1.40 EPS, Q1 2022 earnings at $1.01 EPS and Q3 2022 earnings at $1.11 EPS. Lazard (NYSE:LAZ) last released its quarterly earnings results on Friday, April 30th. The asset manager reported $0.87 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.85 by $0.02. Lazard had a net margin of 11.62% and a return on equity of 47.79%. The business had revenue of $679.40 million for the quarter, compared to the consensus estimate of $640.24 million. During the same period in the prior year, the company posted $0.58 earnings per share. Lazard's revenue was up 21.7% compared to the same quarter last year.

A number of other brokerages also recently weighed in on LAZ. Keefe, Bruyette & Woods downgraded Lazard from an "outperform" rating to a "market perform" rating and set a $50.00 target price on the stock. in a report on Thursday, January 14th. Credit Suisse Group reduced their price target on shares of Lazard from $50.00 to $49.00 and set a "neutral" rating on the stock in a research note on Monday. TheStreet raised shares of Lazard from a "c+" rating to a "b" rating in a report on Friday, February 5th. Morgan Stanley upgraded shares of Lazard from an "equal weight" rating to an "overweight" rating and set a $61.00 price target on the stock in a research report on Tuesday, April 13th. Finally, Argus upped their price target on shares of Lazard from $40.00 to $48.00 and gave the company a "buy" rating in a research report on Tuesday, February 9th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of "Buy" and a consensus target price of $47.75.

LAZ stock opened at $44.94 on Wednesday. The company has a market cap of $4.72 billion, a PE ratio of 17.62 and a beta of 1.66. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 2.16. Lazard has a 52 week low of $23.18 and a 52 week high of $46.94. The business has a 50-day simple moving average of $44.91 and a 200 day simple moving average of $41.40.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 21st. Stockholders of record on Monday, May 10th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date is Friday, May 7th. Lazard's payout ratio is 57.32%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Roosevelt Investment Group LLC raised its stake in shares of Lazard by 20.1% during the 1st quarter. Roosevelt Investment Group LLC now owns 29,003 shares of the asset manager's stock worth $1,262,000 after purchasing an additional 4,856 shares during the period. Envestnet Asset Management Inc. raised its stake in Lazard by 40.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 31,876 shares of the asset manager's stock valued at $1,387,000 after acquiring an additional 9,158 shares during the period. Commonwealth Equity Services LLC raised its stake in Lazard by 15.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 9,118 shares of the asset manager's stock valued at $396,000 after acquiring an additional 1,238 shares during the period. Empire Life Investments Inc. raised its stake in Lazard by 13.6% in the 1st quarter. Empire Life Investments Inc. now owns 15,227 shares of the asset manager's stock valued at $663,000 after acquiring an additional 1,818 shares during the period. Finally, Artemis Investment Management LLP raised its stake in Lazard by 5.7% in the 1st quarter. Artemis Investment Management LLP now owns 248,798 shares of the asset manager's stock valued at $10,834,000 after acquiring an additional 13,509 shares during the period. Institutional investors own 74.49% of the company's stock.

About Lazard

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. Its Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions, capital advisory, restructurings, shareholder advisory, sovereign advisory, capital raising, and other strategic advisory matters.

Read More: What causes a recession?

Earnings History and Estimates for Lazard (NYSE:LAZ)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: Investing in Dividend Stocks


7 Cyclical Stocks That Can Help You Play Defense

A cyclical stock is one that produces returns that are influenced by macroeconomic or systematic changes in the broader economy. In strong economic times, these stocks show generally strong growth because they are influenced by discretionary consumer spending. Of course, that means the opposite is true as well. When the economy is weak, these stocks may pull back further than other stocks.

Cyclical stocks cover many sectors, but travel and entertainment stocks come to mind. Airlines, hotels, and restaurants are all examples of cyclical sectors that do well during times of economic growth but are among the first to pull back in recessionary times.

Why do cyclical stocks deserve a place in an investor’s portfolio? Believe it or not, it’s for the relative predictability that they provide. Investors may enjoy speculating in growth stocks, but these are prone to bubbles. This isn’t to say that cyclical stocks are not volatile, but they offer price movement that is a bit more predictable.

In this special presentation, we’re looking at cyclical stocks that are looking strong as we come out of the pandemic. And some of these stocks held up well during the pandemic which means they’re starting from a stronger base.

View the "7 Cyclical Stocks That Can Help You Play Defense ".


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more about MarketBeat.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research. As a bonus to opt-ing into our email newsletters, you will also get a free subscription to the Liberty Through Wealth e-newsletter. You can opt out at any time.