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.
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.
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