Morgan Stanley upgraded Lazard from Underweight to Equal-Weight and set a new price target of $36.00 from $29.00 previously
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 9/12/2024 | $51.00 | Equal Weight | Wells Fargo |
| 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 |
Firm-wide adjusted net revenue increased 24% year-to-date Financial Advisory adjusted net revenue increased 39% year-to-date Asset Management AUM increased 8% from last year Lazard, Inc. (NYSE:LAZ) today reported net revenue of $785 million and adjusted net revenue1 of $646 million for the quarter ended September 30, 2024. For the first nine months of 2024, Lazard reported net revenue of $2,235 million and adjusted net revenue1 of $2,077 million. On a U.S. GAAP basis, Lazard reported third-quarter 2024 net income of $108 million or $1.02 per share, diluted. For the first nine months of 2024, net income was $194 million or $1.88 per share, diluted. For the third quarter of 2024, adju
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 November 15, 2024, to stockholders of record on November 8, 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 instit
Lazard, Inc. (NYSE:LAZ) announced today that its subsidiary Lazard Group LLC ("Lazard Group") will redeem all of the issued and outstanding 3.750% Senior Notes due February 13, 2025 (the "Notes") on December 12, 2024 (the "Redemption Date"). The Notes were issued pursuant to the Indenture, dated as of May 10, 2005 (as amended, the "Indenture"), between Lazard Group and The Bank of New York Mellon, as trustee, and have an aggregate principal amount outstanding of $164,347,000. The Notes will be redeemed at a make-whole redemption price calculated in accordance with the Indenture (the "Redemption Payment"). From and after the Redemption Date, all interest will cease to accrue on the Notes.
Lazard Asset Management is pleased to announce that Robert Forsyth has joined the firm as Managing Director and Global Head of ETFs. Based in New York, Mr. Forsyth will drive the development and expansion of Lazard's active ETF platform. "Lazard has been a leading provider of active strategies for decades, helping clients diversify their portfolios by accessing insight-driven products that seek to generate alpha," said Evan Russo, CEO of Lazard Asset Management. "We are continuously evolving our platform so that more clients can access our leading investment strategies. Building and expanding an active ETF platform is a key next step in our plans and Rob will play an important role in acce
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
4 - Lazard, Inc. (0001311370) (Issuer)
4 - Lazard, Inc. (0001311370) (Issuer)
4 - Lazard, Inc. (0001311370) (Issuer)
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.
10-Q - Lazard, Inc. (0001311370) (Filer)
8-K - Lazard, Inc. (0001311370) (Filer)
144 - Lazard, Inc. (0001311370) (Subject)
SC 13G/A - Lazard, Inc. (0001311370) (Subject)
SC 13G/A - Lazard, Inc. (0001311370) (Subject)
SC 13G/A - Lazard Ltd (0001311370) (Subject)
Wells Fargo initiated coverage of Lazard with a rating of Equal Weight and set a new price target of $51.00
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
Firm-wide adjusted net revenue increased 24% year-to-date Financial Advisory adjusted net revenue increased 39% year-to-date Asset Management AUM increased 8% from last year Lazard, Inc. (NYSE:LAZ) today reported net revenue of $785 million and adjusted net revenue1 of $646 million for the quarter ended September 30, 2024. For the first nine months of 2024, Lazard reported net revenue of $2,235 million and adjusted net revenue1 of $2,077 million. On a U.S. GAAP basis, Lazard reported third-quarter 2024 net income of $108 million or $1.02 per share, diluted. For the first nine months of 2024, net income was $194 million or $1.88 per share, diluted. For the third quarter of 2024, adju
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 November 15, 2024, to stockholders of record on November 8, 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 instit
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 November 22, 2024 to shareholders of record on November 12, 2024. The ex-dividend date is November 12, 2024. The Fund will pay a previously declared distribution today, October 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, n