Lazard (NYSE:LAZ – Get Free Report) released its quarterly earnings data on Thursday. The asset manager reported $0.66 EPS for the quarter, beating the consensus estimate of $0.58 by $0.08, Briefing.com reports. Lazard had a negative net margin of 2.93% and a positive return on equity of 16.43%. The business had revenue of $765.00 million during the quarter, compared to the consensus estimate of $678.57 million. During the same quarter in the prior year, the firm earned ($0.26) EPS. The business’s revenue was up 41.1% on a year-over-year basis.
Lazard Stock Performance
LAZ stock traded up $0.21 during midday trading on Friday, hitting $39.10. The stock had a trading volume of 335,888 shares, compared to its average volume of 1,172,557. The firm has a market capitalization of $4.41 billion, a price-to-earnings ratio of -40.11 and a beta of 1.46. Lazard has a 52 week low of $25.82 and a 52 week high of $42.24. The stock has a 50-day simple moving average of $39.31 and a 200 day simple moving average of $35.32. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 3.51.
Lazard Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Monday, February 12th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $2.00 annualized dividend and a yield of 5.12%. Lazard’s dividend payout ratio (DPR) is presently -206.18%.
Wall Street Analyst Weigh In
Check Out Our Latest Research Report on Lazard
Insider Buying and Selling at Lazard
In related news, CEO Evan L. Russo sold 75,000 shares of Lazard stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $39.35, for a total value of $2,951,250.00. Following the completion of the sale, the chief executive officer now directly owns 227,448 shares in the company, valued at $8,950,078.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 3.86% of the company’s stock.
Lazard Company Profile
Lazard, Inc, together with its subsidiaries, operates as a financial advisory and asset management firm in North and South America, Europe, the Middle East, Asia, and Australia. It operates in two segments, Financial Advisory and Asset Management. The Financial Advisory segment offers financial advisory services, such as mergers and acquisitions, capital markets, shareholder, sovereign, geopolitical advisory, and other strategic advisory services, as well as restructuring and liability management, and capital raising and placement services.
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