Lazard Ltd (NYSE:LAZ) – Analysts at Seaport Res Ptn raised their FY2021 earnings per share (EPS) estimates for shares of Lazard in a report released on Wednesday, January 12th. Seaport Res Ptn analyst J. Mitchell now anticipates that the asset manager will post earnings per share of $4.57 for the year, up from their previous forecast of $4.55. Seaport Res Ptn also issued estimates for Lazard’s Q4 2021 earnings at $1.45 EPS, Q1 2022 earnings at $1.00 EPS and Q4 2022 earnings at $1.47 EPS.
LAZ has been the subject of a number of other research reports. Keefe, Bruyette & Woods raised Lazard from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $53.00 to $58.00 in a report on Thursday, September 30th. Zacks Investment Research downgraded Lazard from a “buy” rating to a “hold” rating and set a $49.00 target price for the company. in a report on Wednesday, September 29th. Morgan Stanley decreased their price target on Lazard from $61.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 8th. Finally, UBS Group decreased their price target on Lazard from $47.00 to $43.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 4th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $50.33.
Lazard (NYSE:LAZ) last posted its earnings results on Friday, October 29th. The asset manager reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.03. Lazard had a return on equity of 58.36% and a net margin of 16.07%. The company had revenue of $702.00 million during the quarter, compared to the consensus estimate of $711.97 million. During the same quarter last year, the firm earned $0.67 earnings per share. The company’s revenue was up 23.4% on a year-over-year basis.
A number of institutional investors have recently added to or reduced their stakes in the business. First Trust Advisors LP lifted its stake in shares of Lazard by 50.4% in the first quarter. First Trust Advisors LP now owns 174,111 shares of the asset manager’s stock worth $6,292,000 after acquiring an additional 58,375 shares during the period. Advisor Group Holdings Inc. lifted its stake in Lazard by 24.0% in the second quarter. Advisor Group Holdings Inc. now owns 13,444 shares of the asset manager’s stock valued at $609,000 after buying an additional 2,605 shares during the period. Victory Capital Management Inc. acquired a new position in Lazard in the second quarter valued at approximately $690,000. US Bancorp DE lifted its stake in Lazard by 223.1% in the second quarter. US Bancorp DE now owns 2,252 shares of the asset manager’s stock valued at $102,000 after buying an additional 1,555 shares during the period. Finally, Rafferty Asset Management LLC lifted its stake in Lazard by 13.5% in the second quarter. Rafferty Asset Management LLC now owns 57,673 shares of the asset manager’s stock valued at $2,610,000 after buying an additional 6,852 shares during the period. Hedge funds and other institutional investors own 75.68% of the company’s stock.
In other Lazard news, CAO Scott D. Hoffman sold 25,000 shares of Lazard stock in a transaction dated Tuesday, November 23rd. The stock was sold at an average price of $46.20, for a total value of $1,155,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.40% of the stock is currently owned by company insiders.
The business also recently declared a quarterly dividend, which was paid on Friday, November 19th. Investors of record on Monday, November 8th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date was Friday, November 5th. Lazard’s payout ratio is currently 42.63%.
Lazard Ltd. is a financial advisory and asset management firm, which engages in the provision of crafting solutions to the clients, including corporations, governments, institutions, partnerships, and individuals. It operates through the Financial Advisory and Asset Management segments. The Financial Advisory segment offers corporate, partnership, institutional, government, sovereign, and individual clients, an array of financial advisory services regarding mergers and acquisitions, restructurings, capital structure, capital raising, and corporate preparedness.
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