Lazard Ltd (NYSE:LAZ) Expected to Announce Earnings of $0.77 Per Share

Share on StockTwits

Equities analysts expect Lazard Ltd (NYSE:LAZ) to report earnings per share of $0.77 for the current quarter, Zacks reports. Zero analysts have provided estimates for Lazard’s earnings. Lazard posted earnings per share of $1.10 during the same quarter last year, which would suggest a negative year over year growth rate of 30%. The company is scheduled to issue its next quarterly earnings report on Thursday, July 25th.

On average, analysts expect that Lazard will report full-year earnings of $3.71 per share for the current financial year, with EPS estimates ranging from $3.67 to $3.74. For the next year, analysts forecast that the firm will post earnings of $4.27 per share, with EPS estimates ranging from $4.15 to $4.38. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Lazard.

Lazard (NYSE:LAZ) last posted its earnings results on Thursday, April 25th. The asset manager reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.29. Lazard had a net margin of 16.72% and a return on equity of 48.17%. The business had revenue of $620.00 million for the quarter, compared to analysts’ expectations of $598.66 million. During the same period in the prior year, the company posted $1.26 EPS. The business’s revenue for the quarter was down 14.4% compared to the same quarter last year.

A number of equities analysts have recently commented on the stock. Bank of America lowered shares of Lazard from a “buy” rating to a “neutral” rating and set a $37.00 price target on the stock. in a report on Thursday, April 11th. Zacks Investment Research raised shares of Lazard from a “sell” rating to a “hold” rating in a report on Tuesday, April 9th. Finally, UBS Group lowered shares of Lazard from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $43.00 to $36.00 in a report on Monday. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $45.33.

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc grew its holdings in shares of Lazard by 1.1% during the 3rd quarter. Vanguard Group Inc now owns 10,982,773 shares of the asset manager’s stock valued at $528,601,000 after purchasing an additional 114,709 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Lazard by 6.0% during the 4th quarter. BlackRock Inc. now owns 5,035,422 shares of the asset manager’s stock valued at $185,858,000 after purchasing an additional 285,162 shares during the last quarter. FMR LLC grew its holdings in shares of Lazard by 94.8% during the 1st quarter. FMR LLC now owns 5,015,114 shares of the asset manager’s stock valued at $181,247,000 after purchasing an additional 2,440,822 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Lazard by 10.5% during the 1st quarter. JPMorgan Chase & Co. now owns 2,004,299 shares of the asset manager’s stock valued at $72,435,000 after purchasing an additional 189,715 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Lazard during the 4th quarter valued at $56,663,000. 65.59% of the stock is currently owned by institutional investors.

Shares of NYSE:LAZ opened at $33.67 on Tuesday. The firm has a market capitalization of $4.38 billion, a PE ratio of 8.09, a P/E/G ratio of 3.33 and a beta of 1.67. Lazard has a one year low of $31.07 and a one year high of $54.64. The company has a debt-to-equity ratio of 2.28, a quick ratio of 1.77 and a current ratio of 1.77.

The business also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were issued a $0.47 dividend. This is a positive change from Lazard’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $1.88 dividend on an annualized basis and a dividend yield of 5.58%. Lazard’s dividend payout ratio is presently 45.19%.

About Lazard

Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm worldwide. Its Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions and other strategic matters, restructurings, capital structure, capital raising, shareholder advisory, and various other financial matters.

Featured Article: Understanding Price to Earnings Ratio (PE)

Get a free copy of the Zacks research report on Lazard (LAZ)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Lazard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lazard and related companies with MarketBeat.com's FREE daily email newsletter.