Lazard Posts 3Q Adjusted EPS of 36 Cents
LAZ sits 17% above its 52-week low of $34.13.
Summary
Lazard reported third-quarter net income of $29.2M, or 26 cents per share, on revenue of $814.2M. Adjusted earnings came in at 36 cents per share, against an IBES estimate of USD 0.47. Context matters here: Q2 net income collapsed 91% to $4.8M on surging compensation costs, so any read on whether comp expense normalized this quarter is the key question. The stock trades near $39.84 with a market cap around $3.6B, making a single quarter's results meaningful for a boutique advisory firm whose results swing with M&A activity.
At the time of this announcement, LAZ was trading at $39.84 on NYSE in the Finance sector, with a market capitalization of approximately $3.6B. The 52-week trading range was $34.13 to $58.75. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.