Zacks Research Forecasts Lazard's FY2025 Earnings (NYSE:LAZ)

Key Points

• Zacks Research has lowered its FY2025 earnings per share estimate for Lazard to $2.38, down from $2.44, maintaining a "Hold" rating on the stock.
• Lazard reported quarterly earnings of $0.52 per share, exceeding expectations, with a net margin of 9.96% and revenue of $796 million, reflecting a 16.2% year-over-year increase.
• Multiple analysts have upgraded their target prices for Lazard, with Keefe, Bruyette & Woods increasing theirs from $60.00 to $65.00, while Morgan Stanley set theirs at $61.00 with an "underweight" rating.

Lazard, Inc. (NYSE:LAZ - Free Report) - Equities researchers at Zacks Research cut their FY2025 EPS estimates for shares of Lazard in a research note issued to investors on Tuesday, September 23rd. Zacks Research analyst Team now forecasts that the asset manager will earn $2.38 per share for the year, down from their previous forecast of $2.44. Zacks Research currently has a "Hold" rating on the stock. The consensus estimate for Lazard's current full-year earnings is $4.24 per share.

Lazard (NYSE:LAZ - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The asset manager reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.14. Lazard had a net margin of 9.96% and a return on equity of 34.33%. The firm had revenue of $796.00 million for the quarter, compared to analysts' expectations of $674.13 million. During the same quarter in the prior year, the business earned $0.52 EPS. The business's quarterly revenue was up 16.2% on a year-over-year basis.

LAZ has been the subject of several other reports. Keefe, Bruyette & Woods raised shares of Lazard from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $60.00 to $65.00 in a report on Monday, August 25th. Morgan Stanley increased their target price on shares of Lazard from $47.00 to $61.00 and gave the stock an "underweight" rating in a report on Monday, September 8th. Citigroup reissued an "outperform" rating on shares of Lazard in a report on Monday, July 14th. JMP Securities set a $60.00 target price on shares of Lazard and gave the stock a "market outperform" rating in a report on Monday, July 14th. Finally, Wells Fargo & Company increased their target price on shares of Lazard from $38.00 to $50.00 and gave the stock an "equal weight" rating in a report on Friday, July 11th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $55.00.

Lazard Price Performance

Shares of NYSE:LAZ opened at $55.00 on Thursday. The firm's 50 day moving average price is $54.67 and its 200-day moving average price is $47.31. Lazard has a twelve month low of $31.97 and a twelve month high of $61.14. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 2.15. The stock has a market capitalization of $6.20 billion, a PE ratio of 18.97 and a beta of 1.35.

Lazard Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Monday, August 4th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Monday, August 4th. Lazard's dividend payout ratio (DPR) is 68.97%.

Insider Buying and Selling at Lazard

In other Lazard news, CEO Evan L. Russo sold 50,000 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $56.95, for a total transaction of $2,847,500.00. Following the completion of the sale, the chief executive officer directly owned 227,915 shares of the company's stock, valued at $12,979,759.25. This trade represents a 17.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Peter Richard Orszag sold 32,475 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $54.09, for a total transaction of $1,756,572.75. Following the sale, the chief executive officer directly owned 183,274 shares of the company's stock, valued at approximately $9,913,290.66. This trade represents a 15.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 108,092 shares of company stock valued at $6,030,986 in the last three months. 3.86% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lazard

A number of institutional investors have recently added to or reduced their stakes in LAZ. Calton & Associates Inc. purchased a new stake in Lazard during the 1st quarter valued at approximately $28,000. State of Wyoming bought a new position in shares of Lazard during the 2nd quarter valued at approximately $38,000. GAMMA Investing LLC boosted its position in shares of Lazard by 57.2% during the 2nd quarter. GAMMA Investing LLC now owns 918 shares of the asset manager's stock valued at $44,000 after acquiring an additional 334 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Lazard during the 2nd quarter valued at approximately $49,000. Finally, Bessemer Group Inc. bought a new position in shares of Lazard during the 1st quarter valued at approximately $50,000. 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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