Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm in North America, Europe, Asia, Australia, and Central and South America. Its Financial Advisory segment offers various financial advisory services regarding mergers and acquisitions, capital advisory, restructurings, shareholder advisory, sovereign advisory, capital raising, and other strategic advisory matters. This segment serves corporate, partnership, institutional, government, sovereign, and individual clients across various industry areas, including consumers, financial institutions, healthcare and life sciences, industrials, power and energy/infrastructure, and real estate, as well as technology, media, and telecommunications. The company's Asset Management segment offers a range of investment solutions and investment management services in equity and fixed income strategies; asset allocation strategies; and alternative investments and private equity funds to corporations, public funds, sovereign entities, endowments and foundations, labor funds, financial intermediaries, and private clients. Lazard Ltd was founded in 1848 and is based in Hamilton, Bermuda.
IPO Year: 2005
Exchange: NYSE
Website: lazard.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
1/29/2024 | $51.00 | Outperform | Keefe Bruyette |
1/3/2024 | $42.00 | Peer Perform → Outperform | Wolfe Research |
9/19/2023 | $37.00 → $32.00 | Neutral → Sell | Goldman |
7/13/2023 | $31.00 → $36.00 | Underperform → Mkt Perform | Keefe Bruyette |
7/12/2023 | $36.00 → $43.00 | Equal-Weight → Overweight | Morgan Stanley |
7/3/2023 | Underperform → Peer Perform | Wolfe Research | |
4/12/2023 | $29.00 → $36.00 | Underweight → Equal-Weight | Morgan Stanley |
7/18/2022 | $40.00 → $30.00 | Equal-Weight → Underweight | Morgan Stanley |
7/13/2022 | $38.00 → $30.00 | Mkt Perform → Underperform | Keefe Bruyette |
4/7/2022 | $39.00 | Peer Perform → Underperform | Wolfe Research |
Lazard (NYSE:LAZ) reported quarterly earnings of $0.52 per share which beat the analyst consensus estimate of $0.35 by 48.57 percent. The company reported quarterly sales of $684.642 million which beat the analyst consensus estimate of $638.743 million by 7.19 percent. This is a 10.42 percent increase over sales of $620.026 million the same period last year.
Morgan Stanley analyst Ryan Kenny maintains Lazard (NYSE:LAZ) with a Overweight and raises the price target from $53 to $56.
Lazard, Inc. (NYSE:LAZ) reported today that its preliminary assets under management ("AUM") as of June 30, 2024 totaled approximately $244.7 billion. The month's AUM included market appreciation of $2.5 billion, net outflows of $1.4 billion and foreign exchange depreciation of $1.4 billion. Preliminary average AUM for the quarter ended June 30, 2024 was $245.3 billion.
In the preceding three months, 4 analysts have released ratings for Lazard (NYSE:LAZ), presenting a wide array of perspectives from bullish to bearish. The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 0 3 1 0 0 Last 30D 0 1 0 0 0 1M Ago 0 0 0 0 0 2M Ago 0 1 0 0 0 3M Ago 0 1 1 0 0 Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $51.25, along with a high estimate of $58.00 and a low estimate of $44.00. This upward trend i
Morgan Stanley analyst Ryan Kenny maintains Lazard (NYSE:LAZ) with a Overweight and lowers the price target from $58 to $54.
Lazard, Inc. (NYSE:LAZ) reported today that its preliminary assets under management ("AUM") as of May 31, 2024 totaled approximately $245.0 billion. The month's AUM included market appreciation of $4.4 billion, net outflows of $1.6 billion and foreign exchange appreciation of $1.4 billion. LAZARD, INC. ASSETS UNDER MANAGEMENT ("AUM") (unaudited) ($ in millions) As of: May 31, April 30, 20241 2024 Equity $190,820 $187,582 Fixed Income
On CNBC's “Mad Money Lightning Round,” Jim Cramer said he likes Enbridge Inc. (NYSE:ENB). “I trust that management team,” he added. On May 10, Enbridge posted better-than-expected quarterly earnings. Lazard, Inc. (NYSE:LAZ) is a good buy here, Cramer said. “I do believe that things are going to get a little less onerous… when it comes to takeovers.” On May 20, Lazard announced that Ben Braun joined the firm as managing director and global head of Media, Entertainment & Sports Advisory. Cramer recommended staying away from AST SpaceMobile, Inc. (NASDAQ:ASTS) as there are so many great companies. “We don't need to be in that one,” he added. On May 15, AST SpaceMobile and AT&T an
Keefe, Bruyette & Woods analyst Aidan Hall reiterates Lazard (NYSE:LAZ) with a Outperform and lowers the price target from $51 to $49.
Lazard (NYSE:LAZ) reported quarterly earnings of $0.66 per share which beat the analyst consensus estimate of $0.51 by 29.41 percent. The company reported quarterly sales of $765.00 million which beat the analyst consensus estimate of $668.12 million by 14.50 percent. This is a 45.16 percent increase over sales of $527.02 million the same period last year.
Keefe Bruyette resumed coverage of Lazard with a rating of Outperform and set a new price target of $51.00
Wolfe Research upgraded Lazard from Peer Perform to Outperform and set a new price target of $42.00
Goldman downgraded Lazard from Neutral to Sell and set a new price target of $32.00 from $37.00 previously
Keefe Bruyette upgraded Lazard from Underperform to Mkt Perform and set a new price target of $36.00 from $31.00 previously
Morgan Stanley upgraded Lazard from Equal-Weight to Overweight and set a new price target of $43.00 from $36.00 previously
Wolfe Research upgraded Lazard from Underperform to Peer Perform
Morgan Stanley upgraded Lazard from Underweight to Equal-Weight and set a new price target of $36.00 from $29.00 previously
Morgan Stanley downgraded Lazard from Equal-Weight to Underweight and set a new price target of $30.00 from $40.00 previously
Keefe Bruyette downgraded Lazard from Mkt Perform to Underperform and set a new price target of $30.00 from $38.00 previously
Wolfe Research downgraded Lazard from Peer Perform to Underperform and set a new price target of $39.00
Lazard Global Total Return and Income Fund, Inc. (the "Fund") (NYSE:LGI) is confirming today, pursuant to its Managed Distribution Policy, as previously authorized by its Board of Directors, a monthly distribution of $0.14941 per share on the Fund's outstanding common stock. The distribution is payable on September 23, 2024 to shareholders of record on September 11, 2024. The ex-dividend date is September 11, 2024. The Fund will pay a previously declared distribution today, August 22, 2024. The following table sets forth the estimated amounts of the current distribution and the cumulative distributions paid, including today's distribution, from the following sources: net investment income
Lazard, Inc. (NYSE:LAZ) reported today that its preliminary assets under management ("AUM") as of July 31, 2024 totaled approximately $246.1 billion. The month's AUM included net outflows of $3.6 billion, market appreciation of $3.5 billion and foreign exchange appreciation of $1.5 billion. LAZARD, INC. ASSETS UNDER MANAGEMENT ("AUM") (unaudited) ($ in millions) As of: July 31, June 30, 20241 2024 Equity $192,176 $190,426 Fixed Income 45,775 46,111 Other 8,153 8,133 Total AUM $246,104
Financial Advisory reports record first-half adjusted net revenue of $855 million Asset Management reports quarter-end AUM of $245 billion Investing in talent firm-wide to support long-term growth strategy Lazard, Inc. (NYSE:LAZ) today reported both net revenue and adjusted net revenue1 of $685 million for the quarter ended June 30, 2024, and net revenue of $1,450 million and adjusted net revenue1 of $1,431 million for the first half of 2024. On a U.S. GAAP basis, second-quarter and first-half 2024 net income were $50 million or $0.49 per share, diluted, and $86 million or $0.84 per share, diluted, respectively. Adjusted net income1 was $53 million or $0.52 per share, diluted, f
Lazard, Inc. (NYSE:LAZ) today announced that its Board of Directors has voted to declare a quarterly dividend of $0.50 per share on its outstanding common stock. The dividend is payable on August 16, 2024, to stockholders of record on August 5, 2024. About Lazard Founded in 1848, Lazard is one of the world's preeminent financial advisory and asset management firms, with operations in North and South America, Europe, the Middle East, Asia, and Australia. Lazard provides advice on mergers and acquisitions, capital markets and capital solutions, restructuring and liability management, geopolitics, and other strategic matters, as well as asset management and investment solutions to institut
Lazard Global Total Return and Income Fund, Inc. (the "Fund") (NYSE:LGI) is confirming today, pursuant to its Managed Distribution Policy, as previously authorized by its Board of Directors, a monthly distribution of $0.14941 per share on the Fund's outstanding common stock. The distribution is payable on August 22, 2024 to shareholders of record on August 12, 2024. The ex-dividend date is August 12, 2024. The Fund will pay a previously declared distribution today, July 22, 2024. The following table sets forth the estimated amounts of the current distribution and the cumulative distributions paid, including today's distribution, from the following sources: net investment income, net reali
Lazard, Inc. (NYSE:LAZ) reported today that its preliminary assets under management ("AUM") as of June 30, 2024 totaled approximately $244.7 billion. The month's AUM included market appreciation of $2.5 billion, net outflows of $1.4 billion and foreign exchange depreciation of $1.4 billion. Preliminary average AUM for the quarter ended June 30, 2024 was $245.3 billion. LAZARD, INC. ASSETS UNDER MANAGEMENT ("AUM") (unaudited) ($ in millions) As of: June 30, May 31, 20241 2024 Equity $190,426 $190,820 Fixed Income 46,111 46,362 Other
Lazard, Inc. (NYSE:LAZ) will announce its second quarter and first-half 2024 financial results in a press release to be issued Thursday morning, July 25, 2024. The press release will be available in the News & Announcements section of Lazard's website at www.lazard.com. Lazard will host a conference call at 8:00 a.m. ET on July 25, 2024, to discuss the company's financial results for the second quarter and first-half 2024. The conference call can be accessed via a live audio webcast available through the Investor Relations section of Lazard's website at www.lazard.com, or by dialing 1 800-343-4136 (toll-free within the U.S. and Canada) or +1 203-518-9843 (outside of the U.S. and Canada) 1
Lazard Global Total Return and Income Fund, Inc. (the "Fund") (NYSE:LGI) is announcing that its Board of Directors has authorized an increase in the monthly distribution to shareholders, pursuant to the Fund's Managed Distribution Policy. Beginning with the distribution payable on July 22, 2024 to shareholders of record on July 11, 2024, which was previously announced on June 24, 2024, the Fund will pay, on a monthly basis, a distribution equal to, on an annualized basis, 10% of the Fund's net asset value per share as of the close of markets on December 31, 2023 on the Fund's outstanding common stock, or $0.14941 per share. The ex-dividend date is July 11, 2024. You should not draw any co
Lazard Global Total Return and Income Fund, Inc. (the "Fund") (NYSE:LGI) is confirming today, pursuant to its Managed Distribution Policy, as previously authorized by its Board of Directors, a monthly distribution of $0.10459 per share on the Fund's outstanding common stock. The distribution is payable on July 22, 2024 to shareholders of record on July 11, 2024. The ex-dividend date is July 11, 2024. The Fund will pay a previously declared distribution today, June 24, 2024. The following table sets forth the estimated amounts of the current distribution and the cumulative distributions paid, including today's distribution, from the following sources: net investment income, net realized ca
Lazard, Inc. (NYSE:LAZ) announced today that Ali Syed has joined the firm as Managing Director and Head of Sovereign and Pension Fund Coverage. Based in New York, Mr. Syed will lead the firm's efforts to advise global sovereign and pension funds. He will collaborate closely with Wassim Al Khatib, CEO of Financial Advisory for the MENA region, and Sarah Al Suhaimi, Chair of Financial Advisory in MENA. "Over the last 12 months, we have substantially expanded Lazard's solutions and capabilities with regard to private capital," said Peter R. Orszag, Lazard Chief Executive Officer. "With Ali's deep experience and expansive network, we continue to strengthen our connectivity to private equity
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Lazard Global Total Return and Income Fund, Inc. (the "Fund") (NYSE:LGI) is confirming today, pursuant to its Managed Distribution Policy, as previously authorized by its Board of Directors, a monthly distribution of $0.14941 per share on the Fund's outstanding common stock. The distribution is payable on September 23, 2024 to shareholders of record on September 11, 2024. The ex-dividend date is September 11, 2024. The Fund will pay a previously declared distribution today, August 22, 2024. The following table sets forth the estimated amounts of the current distribution and the cumulative distributions paid, including today's distribution, from the following sources: net investment income
Financial Advisory reports record first-half adjusted net revenue of $855 million Asset Management reports quarter-end AUM of $245 billion Investing in talent firm-wide to support long-term growth strategy Lazard, Inc. (NYSE:LAZ) today reported both net revenue and adjusted net revenue1 of $685 million for the quarter ended June 30, 2024, and net revenue of $1,450 million and adjusted net revenue1 of $1,431 million for the first half of 2024. On a U.S. GAAP basis, second-quarter and first-half 2024 net income were $50 million or $0.49 per share, diluted, and $86 million or $0.84 per share, diluted, respectively. Adjusted net income1 was $53 million or $0.52 per share, diluted, f
Lazard, Inc. (NYSE:LAZ) today announced that its Board of Directors has voted to declare a quarterly dividend of $0.50 per share on its outstanding common stock. The dividend is payable on August 16, 2024, to stockholders of record on August 5, 2024. About Lazard Founded in 1848, Lazard is one of the world's preeminent financial advisory and asset management firms, with operations in North and South America, Europe, the Middle East, Asia, and Australia. Lazard provides advice on mergers and acquisitions, capital markets and capital solutions, restructuring and liability management, geopolitics, and other strategic matters, as well as asset management and investment solutions to institut
Lazard Global Total Return and Income Fund, Inc. (the "Fund") (NYSE:LGI) is confirming today, pursuant to its Managed Distribution Policy, as previously authorized by its Board of Directors, a monthly distribution of $0.14941 per share on the Fund's outstanding common stock. The distribution is payable on August 22, 2024 to shareholders of record on August 12, 2024. The ex-dividend date is August 12, 2024. The Fund will pay a previously declared distribution today, July 22, 2024. The following table sets forth the estimated amounts of the current distribution and the cumulative distributions paid, including today's distribution, from the following sources: net investment income, net reali
Lazard, Inc. (NYSE:LAZ) will announce its second quarter and first-half 2024 financial results in a press release to be issued Thursday morning, July 25, 2024. The press release will be available in the News & Announcements section of Lazard's website at www.lazard.com. Lazard will host a conference call at 8:00 a.m. ET on July 25, 2024, to discuss the company's financial results for the second quarter and first-half 2024. The conference call can be accessed via a live audio webcast available through the Investor Relations section of Lazard's website at www.lazard.com, or by dialing 1 800-343-4136 (toll-free within the U.S. and Canada) or +1 203-518-9843 (outside of the U.S. and Canada) 1
Lazard Global Total Return and Income Fund, Inc. (the "Fund") (NYSE:LGI) is announcing that its Board of Directors has authorized an increase in the monthly distribution to shareholders, pursuant to the Fund's Managed Distribution Policy. Beginning with the distribution payable on July 22, 2024 to shareholders of record on July 11, 2024, which was previously announced on June 24, 2024, the Fund will pay, on a monthly basis, a distribution equal to, on an annualized basis, 10% of the Fund's net asset value per share as of the close of markets on December 31, 2023 on the Fund's outstanding common stock, or $0.14941 per share. The ex-dividend date is July 11, 2024. You should not draw any co
Lazard Global Total Return and Income Fund, Inc. (the "Fund") (NYSE:LGI) is confirming today, pursuant to its Managed Distribution Policy, as previously authorized by its Board of Directors, a monthly distribution of $0.10459 per share on the Fund's outstanding common stock. The distribution is payable on July 22, 2024 to shareholders of record on July 11, 2024. The ex-dividend date is July 11, 2024. The Fund will pay a previously declared distribution today, June 24, 2024. The following table sets forth the estimated amounts of the current distribution and the cumulative distributions paid, including today's distribution, from the following sources: net investment income, net realized ca
Lazard Global Total Return and Income Fund, Inc. (the "Fund") (NYSE:LGI) is confirming today, pursuant to its Managed Distribution Policy, as previously authorized by its Board of Directors, a monthly distribution of $0.10459 per share on the Fund's outstanding common stock. The distribution is payable on June 24, 2024 to shareholders of record on June 11, 2024. The ex-dividend date is June 11, 2024. The Fund will pay a previously declared distribution today, May 22, 2024. The following table sets forth the estimated amounts of the current distribution and the cumulative distributions paid, including today's distribution, from the following sources: net investment income, net realized cap
Record first-quarter firm-wide adjusted net revenue Record first-quarter Financial Advisory adjusted net revenue Asset Management quarter end AUM increased 8% year-over-year Lazard, Inc. (NYSE:LAZ) today reported net revenue of $765 million and adjusted net revenue1 of $747 million for the quarter ended March 31, 2024. On a U.S. GAAP basis, first-quarter 2024 net income was $36 million or $0.35 per share, diluted. Adjusted net income2 was $67 million, or $0.66 per share, diluted, for the quarter. "Lazard's record first-quarter revenue reflects an improving M&A environment and reinforces our outlook for a productive year ahead, as we continue to make strides in executing our lo
Lazard, Inc. (NYSE:LAZ) today announced that its Board of Directors has voted to declare a quarterly dividend of $0.50 per share on its outstanding common stock. The dividend is payable on May 17, 2024, to stockholders of record on May 6, 2024. About Lazard Founded in 1848, Lazard is one of the world's preeminent financial advisory and asset management firms, with operations in North and South America, Europe, the Middle East, Asia, and Australia. Lazard provides advice on mergers and acquisitions, capital markets and capital solutions, restructuring and liability management, geopolitics, and other strategic matters, as well as asset management and investment solutions to institutions,
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Lazard, Inc. (NYSE:LAZ) announced today that Ali Syed has joined the firm as Managing Director and Head of Sovereign and Pension Fund Coverage. Based in New York, Mr. Syed will lead the firm's efforts to advise global sovereign and pension funds. He will collaborate closely with Wassim Al Khatib, CEO of Financial Advisory for the MENA region, and Sarah Al Suhaimi, Chair of Financial Advisory in MENA. "Over the last 12 months, we have substantially expanded Lazard's solutions and capabilities with regard to private capital," said Peter R. Orszag, Lazard Chief Executive Officer. "With Ali's deep experience and expansive network, we continue to strengthen our connectivity to private equity
Lazard, Inc. (NYSE:LAZ) announced today that Ben Braun joined the firm as Managing Director and Global Head of Media, Entertainment & Sports Advisory. Based in New York, Mr. Braun will lead the firm's newly created Media, Entertainment & Sports advisory team. This specialized practice area will operate within Lazard's Financial Advisory business, offering a comprehensive range of services tailored to the unique needs of clients in these rapidly evolving industries. "The media, entertainment, and sports sectors continue to experience significant deal-making activity, fueled by an evolving strategic landscape and increased interest from deep pools of private capital," said Peter R. Orszag
Lazard, Inc. (NYSE:LAZ) today announced former PayPal CEO, Dan Schulman, and former US Chairman and Managing Partner of the Americas for Ernst & Young, Stephen R. Howe Jr., have been appointed to its Board of Directors, effective February 1, 2024. "We are thrilled that Dan and Steve are joining our Board of Directors," said Peter R. Orszag, Chief Executive Officer and Director, Lazard. "They are world-class leaders and emblematic of the extraordinary professionals we attract at Lazard. Dan's experience successfully leading and transforming public companies, and Steve's deep financial expertise and network working with the world's largest businesses, will be extremely beneficial as we purs
- U.K. government veteran Sir Stephen Lovegrove to work with the Lazard Geopolitical and U.K. Financial Advisory businesses and be based in London Lazard Ltd (NYSE:LAZ) announced today that Sir Stephen Lovegrove has joined the firm as a Senior Advisor serving clients in the U.K. Financial Advisory and Geopolitical Advisory businesses. He will be based in London. "We are pleased to welcome Sir Stephen to Lazard. He brings a deeply informed perspective on business and geopolitical topics developed over decades of experience, and his insight into the energy transition will be of particular interest to our European clients," said Peter Orszag, Chief Executive Officer of Financial Advisory a
Leadership changes to take effect on October 1, 2023 Lazard Ltd (NYSE:LAZ) today announced that Peter R. Orszag, currently CEO of Financial Advisory at Lazard, has been unanimously elected by its Board to serve as CEO of Lazard and as a Board Director. Kenneth M. Jacobs, Chairman and CEO of Lazard, will serve as Executive Chairman of the Board and will continue to advise clients on strategic financial matters. These changes will take effect October 1, 2023. "Peter is the optimal choice as the next CEO of Lazard," said Richard D. Parsons, Lead Independent Director of Lazard. "Over his career spanning both banking and government, Peter has proven to be a strategic, visionary and decisive
Lazard Asset Management (LAM) today announced that Larry Cohen has been appointed as Managing Director and Global Head of Technology & Operations, effective immediately. "Larry brings a wealth of experience in the asset management industry as well as in technology and operational infrastructure," said Evan Russo, Chief Executive Officer of Lazard Asset Management. "He will work with our teams globally to improve and refine our global technology, systems and operational infrastructure, which will help support the next stage of growth and expansion within the asset management business." Mr. Cohen joined the firm last August as a Strategic Advisor. He has deep experience across operations, t
Lazard Ltd (NYSE:LAZ) today announced the appointment of Wassim Al-Khatib as Chief Executive Officer (CEO) of the firm's Financial Advisory business in the Middle East and North Africa (MENA), and CEO of Lazard Saudi Arabia, subject to regulatory approval. Wassim Al-Khatib will be based in the Riyadh office, which will serve as Lazard's regional MENA Investment Banking hub. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230122005027/en/Wassim Al-Khatib Joins Lazard as Chief Executive Officer, Middle East and North Africa Investment Banking (Photo: Business Wire) "We are pleased to have Wassim join us as CEO of our MENA Investment
-- Riyadh office to serve as MENA regional hub -- Lazard Ltd (NYSE:LAZ) announced today that the firm has hired Sarah Al-Suhaimi as Chair of Lazard's Financial Advisory business in the Middle East and North Africa (MENA), and that she will be appointed Chair of Lazard Saudi Arabia subject to regulatory approval. Her appointment demonstrates Lazard's growing commitment to serving investment banking clients in the region through its Riyadh office, where the firm has been licensed to provide financial advisory services since 2010. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220918005043/en/Sarah Al-Suhaimi to Chair Lazard's Midd
Alexander F. Stern, President of Lazard, to Retire From the Firm at Year End After Nearly 30 Years Lazard Ltd (NYSE:LAZ) announced today that Evan L. Russo, Chief Financial Officer (CFO) of Lazard, will succeed Ashish Bhutani as Chief Executive Officer (CEO) of Lazard's Asset Management business. Mr. Bhutani has decided to retire as CEO of Lazard's Asset Management business and from the Board of Directors of both Lazard Ltd and Lazard Group as of June 1, 2022, to pursue philanthropic and personal interests. Mr. Bhutani will continue serving as Chairman of Asset Management and as a Vice Chairman of Lazard through the end of the year. Mr. Russo will continue serving as Lazard's CFO and work
- Firm expands sustainable investment offering - Lazard Asset Management (LAM) today announced an expansion of its sustainable investment capabilities with the appointment of Koen Popleu and Monika Kumar as portfolio managers, effective immediately. Mr. Popleu and Ms. Kumar, who have a combined investment experience of over 30 years, will be based in Belgium and will build out a team focused on investing in themes that support a more sustainable economy. They will work alongside LAM's Co-Heads of Sustainable Investing and ESG as well as research analysts across the firm's global investment platforms to enhance LAM‘s growing range of sustainable investing solutions. Their first strategy is