Lazard (LAZ) Releases Quarterly Earnings Results, Hits Estimates
Lazard (NYSE:LAZ) released its quarterly earnings data on Tuesday. The asset manager reported $0.94 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.94, MarketWatch Earnings reports. The firm had revenue of $685.00 million for the quarter, compared to the consensus estimate of $673.35 million. Lazard had a return on equity of 49.16% and a net margin of 18.27%. The company’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.12 earnings per share.
Shares of NYSE:LAZ opened at $38.84 on Thursday. Lazard has a 1 year low of $33.54 and a 1 year high of $58.13. The stock has a market cap of $5.15 billion, a P/E ratio of 9.34, a price-to-earnings-growth ratio of 2.14 and a beta of 1.62. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 1.28.
The firm also recently declared a None dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 15th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Thursday, February 14th. Lazard’s dividend payout ratio is presently 42.31%.
A number of research analysts recently issued reports on the company. ValuEngine downgraded Lazard from a “sell” rating to a “strong sell” rating in a report on Tuesday. Buckingham Research reduced their price target on Lazard from $64.00 to $52.00 and set a “neutral” rating on the stock in a report on Friday, October 26th. Keefe, Bruyette & Woods restated a “mkt perform” rating and set a $41.00 price target on shares of Lazard in a report on Friday, January 4th. Zacks Investment Research upgraded Lazard from a “sell” rating to a “hold” rating in a report on Monday, December 31st. Finally, Goldman Sachs Group assumed coverage on Lazard in a report on Tuesday, November 6th. They set a “neutral” rating and a $46.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $50.83.
Lazard Company Profile
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.
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