Financial advisory firm Lazard (NYSE: LAZ) will be announcing earnings results this Friday morning. Here’s what to expect.
Lazard beat analysts’ revenue expectations last quarter, reporting revenues of $892.1 million, up 9.8% year on year. It was a stunning quarter for the company, with a solid beat of analysts’ revenue estimates and .
Is Lazard a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Lazard’s revenue to grow 10% year on year, a reversal from the 13.8% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Lazard rarely misses Wall Street’s revenue estimates.
Looking at Lazard’s peers in the investment banking & brokerage segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Evercore delivered year-on-year revenue growth of 98.8%, beating analysts’ expectations by 15.8%, and Morgan Stanley reported revenues up 16%, topping estimates by 4%. Morgan Stanley traded up 2.2% following the results.
Read our full analysis of Evercore’s results here and Morgan Stanley’s results here.
There has been positive sentiment among investors in the investment banking & brokerage segment, with share prices up 9.1% on average over the last month. Lazard is up 11.8% during the same time and is heading into earnings with an average analyst price target of $52.38 (compared to the current share price of $47.51).
ONE MORE THING: The $21 AI Application Stock Wall Street Forgot. While Wall Street obsesses over who’s building AI, one company is already using it to print money. And nobody’s paying attention.
AI chip stocks trade at ridiculous valuations. This company processes a trillion consumer signals monthly using AI and trades at a third of the price. The gap won’t last. The institutions will figure it out. You need to see this first. Read the FREE Report Before They Notice.
