$669.13 million in sales expected for Lazard Ltd (NYSE:LAZ) this quarter


Stock analysts are predicting that Lazard Ltd (NYSE: LAZ – Get Rating) will report revenue of $669.13 million for the current quarter, according to Zacks Investment Research. Three analysts provided earnings estimates for Lazard, with the lowest sales estimate at $649.78 million and the highest estimate at $689.60 million. Lazard reported sales of $647.86 million in the same quarter last year, indicating a positive year-over-year growth rate of 3.3%. The company is expected to release its next quarterly results before the market opens on Monday, January 1.

On average, analysts expect Lazard to report annual revenue of $2.88 billion for the current fiscal year, with estimates ranging from $2.66 billion to $3.02 billion. dollars. For next year, analysts expect the company to register sales of $3.03 billion, with estimates ranging from $2.86 billion to $3.20 billion. Zacks sales averages are an average based on a survey of sell-side analysts who provide coverage for Lazard.

Lazard (NYSE:LAZ – Get Rating) last announced its results on Thursday, February 3. The asset manager reported earnings per share (EPS) of $1.92 for the quarter, beating the Zacks consensus estimate of $1.45 by $0.47. Lazard had a net margin of 16.13% and a return on equity of 59.74%. The company posted revenue of $1.01 billion for the quarter, against analyst estimates of $856.96 million. In the same quarter last year, the company earned earnings per share of $1.66. Lazard’s revenues increased 12.7% compared to the same quarter last year.

LAZ has been the subject of a number of analyst reports. Wolfe Research downgraded Lazard shares from a “peer performing” rating to an “underperforming” rating and set a target price of $39.00 for the stock. in a research report on Thursday, April 7. Piper Sandler cut its price target on Lazard shares from $49.00 to $45.00 and set an “overweight” rating on the stock in a Thursday, April 7 report. UBS Group lowered its price target on Lazard shares from $47.00 to $43.00 and set a “neutral” rating on the stock in a Tuesday, January 4, report. Morgan Stanley downgraded Lazard’s shares from an “overweight” rating to an “equal weight” rating and set a price target of $40.00 for the stock. in a report on Tuesday, March 8. Finally, Keefe, Bruyette & Woods downgraded Lazard shares from an “outperform” rating to a “market performer” rating and lowered their price target for the company from $52.00 to $49.00. in a report on Friday, February 4. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned the company a buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $46.25.

Several large investors have recently bought and sold shares of the stock. Rothschild Investment Corp IL increased its stake in Lazard shares by 6.2% in the 1st quarter. Rothschild Investment Corp IL now owns 8,600 shares of the asset manager valued at $297,000 after acquiring an additional 500 shares last quarter. The Alaska State Department of Revenue increased its stake in Lazard by 2.5% during the first quarter. The Alaska State Department of Revenue now owns 15,472 shares of the asset manager worth $533,000 after purchasing 380 additional shares during the period. Gilman Hill Asset Management LLC increased its stake in Lazard by 14.8% in the 1st quarter. Gilman Hill Asset Management LLC now owns 25,610 shares of the asset manager worth $884,000 after purchasing an additional 3,300 shares during the period. Norges Bank acquired a new stake in Lazard during the 4th quarter at a value of $60,393,000. Finally, Stephens Inc. AR increased its stake in Lazard by 19.5% during the 4th quarter. Stephens Inc. AR now owns 26,375 shares of the asset manager worth $1,151,000 after purchasing an additional 4,300 shares during the period.

NYSE LAZ shares opened at $35.82 on Wednesday. Lazard has a 1 year minimum of $31.64 and a 1 year maximum of $53.00. The company’s 50-day moving average price is $34.88 and its 200-day moving average price is $41.92. The company has a market capitalization of $3.76 billion, a P/E ratio of 7.74 and a beta of 1.52. The company has a debt ratio of 2.08, a quick ratio of 1.75 and a current ratio of 1.75.

The company also recently announced a quarterly dividend, which was paid on Friday, February 25. Investors of record on Monday, February 14 received a dividend of $0.47 per share. The ex-dividend date was Friday, February 11. This represents an annualized dividend of $1.88 and a dividend yield of 5.25%. Lazard’s payout ratio is 40.60%.

Lazard Company Profile (Get a rating)

Lazard Ltd. is a financial advisory and asset management company, committed to providing craftsmanship solutions to clients, including corporations, governments, institutions, partnerships and individuals. It operates through the Financial Advisory and Asset Management segments. The Financial Advisory segment provides corporations, partnerships, institutions, governments, sovereigns and individuals with a range of financial advisory services relating to mergers and acquisitions, restructurings, capital structure, capital raising and business readiness.

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Earnings history and estimates for Lazard (NYSE:LAZ)



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