Lazard (LAZ) Set to Announce Earnings on Thursday

Lazard (NYSE:LAZ) is set to post its quarterly earnings results before the market opens on Thursday, April 25th. Analysts expect Lazard to post earnings of $0.58 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Lazard (NYSE:LAZ) last issued its quarterly earnings data on Thursday, February 1st. The asset manager reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.31. The firm had revenue of $825.70 million for the quarter, compared to analysts’ expectations of $666.56 million. Lazard had a negative net margin of 2.93% and a positive return on equity of 16.43%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 earnings per share. On average, analysts expect Lazard to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Lazard Price Performance

Shares of Lazard stock opened at $39.65 on Wednesday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 3.51. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of -40.87 and a beta of 1.46. Lazard has a 1-year low of $25.82 and a 1-year high of $42.24. The firm’s 50-day moving average price is $39.25 and its two-hundred day moving average price is $35.23.

Lazard Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Monday, February 12th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $2.00 annualized dividend and a yield of 5.04%. Lazard’s dividend payout ratio is -206.19%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $58.00 price objective on shares of Lazard in a research note on Thursday, April 11th. Wolfe Research raised shares of Lazard from a “peer perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research note on Wednesday, January 3rd. UBS Group increased their price target on shares of Lazard from $43.00 to $44.00 and gave the company a “neutral” rating in a research note on Tuesday, March 26th. TheStreet raised shares of Lazard from a “d+” rating to a “c+” rating in a research note on Monday, February 5th. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $51.00 price target on shares of Lazard in a research note on Monday, January 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $46.00.

Insider Buying and Selling at Lazard

In other Lazard news, CEO Evan L. Russo sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $39.35, for a total value of $2,951,250.00. Following the transaction, the chief executive officer now directly owns 227,448 shares of the company’s stock, valued at $8,950,078.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.86% 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.