Lazard, Inc. to Post Q3 2024 Earnings of $0.49 Per Share, Zacks Research Forecasts (NYSE:LAZ)

Lazard, Inc. (NYSE:LAZ) – Equities research analysts at Zacks Research dropped their Q3 2024 EPS estimates for shares of Lazard in a report issued on Wednesday, August 14th. Zacks Research analyst R. Department now forecasts that the asset manager will post earnings per share of $0.49 for the quarter, down from their prior forecast of $0.63. The consensus estimate for Lazard’s current full-year earnings is $2.56 per share. Zacks Research also issued estimates for Lazard’s Q2 2025 earnings at $0.81 EPS, Q1 2026 earnings at $1.35 EPS, Q2 2026 earnings at $1.34 EPS and FY2026 earnings at $5.39 EPS.

Other equities analysts also recently issued reports about the company. StockNews.com upgraded Lazard from a “hold” rating to a “buy” rating in a research report on Friday, July 26th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $56.00 price target (up previously from $49.00) on shares of Lazard in a research report on Friday, July 26th. Morgan Stanley raised their price objective on shares of Lazard from $53.00 to $56.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd. Finally, The Goldman Sachs Group increased their price objective on shares of Lazard from $38.00 to $42.00 and gave the stock a “sell” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.33.

Lazard Stock Up 0.3 %

Shares of LAZ opened at $47.99 on Friday. The firm has a 50 day simple moving average of $41.93 and a two-hundred day simple moving average of $40.31. The company has a market cap of $5.41 billion, a P/E ratio of -137.11 and a beta of 1.40. Lazard has a one year low of $25.82 and a one year high of $49.78. The company has a debt-to-equity ratio of 3.60, a current ratio of 1.94 and a quick ratio of 1.89.

Lazard (NYSE:LAZ) last issued its quarterly earnings results on Thursday, July 25th. The asset manager reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.17. Lazard had a return on equity of 41.78% and a net margin of 5.50%. The business had revenue of $685.30 million during the quarter, compared to analysts’ expectations of $625.40 million. During the same period in the previous year, the company posted $0.24 earnings per share. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year.

Lazard Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Monday, August 5th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.17%. The ex-dividend date was Monday, August 5th. Lazard’s dividend payout ratio (DPR) is presently -571.43%.

Insider Activity at Lazard

In other Lazard news, Chairman Kenneth M. Jacobs sold 6,762 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $40.00, for a total value of $270,480.00. Following the completion of the transaction, the chairman now owns 1,982,829 shares in the company, valued at approximately $79,313,160. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Lazard news, Chairman Kenneth M. Jacobs sold 46,107 shares of the company’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $40.19, for a total value of $1,853,040.33. Following the transaction, the chairman now directly owns 1,936,722 shares in the company, valued at approximately $77,836,857.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Kenneth M. Jacobs sold 6,762 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $40.00, for a total value of $270,480.00. Following the completion of the sale, the chairman now directly owns 1,982,829 shares in the company, valued at approximately $79,313,160. The disclosure for this sale can be found here. In the last ninety days, insiders sold 414,000 shares of company stock worth $17,683,738. Corporate insiders own 3.86% of the company’s stock.

Institutional Investors Weigh In On Lazard

A number of large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in Lazard in the 1st quarter worth $25,000. Richardson Financial Services Inc. increased its holdings in shares of Lazard by 1,125.0% in the second quarter. Richardson Financial Services Inc. now owns 735 shares of the asset manager’s stock worth $28,000 after buying an additional 675 shares during the period. Continuum Advisory LLC lifted its stake in shares of Lazard by 58.9% in the 2nd quarter. Continuum Advisory LLC now owns 890 shares of the asset manager’s stock valued at $34,000 after acquiring an additional 330 shares during the last quarter. SYSTM Wealth Solutions LLC purchased a new stake in Lazard during the 1st quarter valued at about $48,000. Finally, Redwood Wealth Management Group LLC bought a new position in Lazard during the 2nd quarter worth approximately $87,000. Hedge funds and other institutional investors own 54.80% of the company’s stock.

Lazard Company Profile

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.