Brokerages expect that Lazard Ltd (NYSE:LAZ) will report earnings per share (EPS) of $1.01 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have made estimates for Lazard’s earnings, with the lowest EPS estimate coming in at $0.94 and the highest estimate coming in at $1.08. Lazard reported earnings per share of $0.83 in the same quarter last year, which would suggest a positive year-over-year growth rate of 21.7%. The business is expected to report its next quarterly earnings results on Thursday, April 26th.
According to Zacks, analysts expect that Lazard will report full year earnings of $3.99 per share for the current fiscal year, with EPS estimates ranging from $3.61 to $4.35. For the next year, analysts anticipate that the business will post earnings of $4.34 per share. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Lazard.
Lazard (NYSE:LAZ) last announced its earnings results on Thursday, February 1st. The asset manager reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.20. The firm had revenue of $683.00 million during the quarter, compared to analyst estimates of $658.86 million. Lazard had a net margin of 9.40% and a return on equity of 38.93%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.13 EPS.
Shares of Lazard (NYSE LAZ) traded up $0.67 during midday trading on Monday, reaching $56.82. 1,300,000 shares of the company were exchanged, compared to its average volume of 1,060,000. The firm has a market cap of $7,370.00, a price-to-earnings ratio of 10.46, a PEG ratio of 1.33 and a beta of 1.81. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.91 and a current ratio of 1.91. Lazard has a 12-month low of $40.50 and a 12-month high of $60.00.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Monday, February 12th were given a dividend of $0.116 per share. The ex-dividend date was Friday, February 9th. This represents a $0.46 annualized dividend and a yield of 0.82%. Lazard’s dividend payout ratio (DPR) is presently 30.20%.
In other news, CAO Scott D. Hoffman sold 15,000 shares of the company’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $52.13, for a total value of $781,950.00. Following the sale, the chief accounting officer now directly owns 147,341 shares of the company’s stock, valued at approximately $7,680,886.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Alexander F. Stern sold 65,160 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $53.12, for a total transaction of $3,461,299.20. Following the completion of the sale, the chief operating officer now directly owns 276,886 shares in the company, valued at $14,708,184.32. The disclosure for this sale can be found here. Insiders have sold a total of 95,320 shares of company stock worth $5,053,854 over the last three months. Insiders own 2.50% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its holdings in shares of Lazard by 18.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,843 shares of the asset manager’s stock valued at $225,000 after purchasing an additional 753 shares during the period. Advisor Group Inc. raised its holdings in shares of Lazard by 12.8% in the 4th quarter. Advisor Group Inc. now owns 8,400 shares of the asset manager’s stock valued at $441,000 after purchasing an additional 953 shares during the period. Advisory Services Network LLC raised its holdings in shares of Lazard by 83.2% in the 4th quarter. Advisory Services Network LLC now owns 2,151 shares of the asset manager’s stock valued at $113,000 after purchasing an additional 977 shares during the period. Koch Industries Inc. raised its holdings in shares of Lazard by 9.4% in the 4th quarter. Koch Industries Inc. now owns 12,349 shares of the asset manager’s stock valued at $648,000 after purchasing an additional 1,062 shares during the period. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Lazard by 4.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 25,979 shares of the asset manager’s stock valued at $1,175,000 after purchasing an additional 1,076 shares during the period. 71.83% of the stock is currently owned by institutional investors.
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Lazard Company Profile
Lazard Ltd (Lazard) is a financial advisory and asset management company. The Company operates through two segments: Financial Advisory and Asset Management. It serves a range of clients around the world, including corporations, governments, institutions, partnerships and individuals. The Financial Advisory business segment offers corporate, partnership, institutional, government, sovereign and individual clients across the globe a range of financial advisory services regarding mergers and acquisitions (M&A) and other strategic matters, restructurings, capital structure, capital raising and various other financial matters to corporate, partnership, institutional, government, sovereign and individual clients.
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