Lazard Inc reports results for the quarter ended March 31 - Earnings Summary

• Lazard Inc LAZ.N reported quarterly adjusted earnings of 56 cents​​ per share for the quarter ended March 31, lower than the same quarter last year, when the company reported EPS of 66 cents. The mean expectation of nine analysts for the quarter was for earnings of 38 cents per share. Wall Street expected results to range from 11 cents to 76 cents per share.

• Revenue fell 13.8% to $643.19 million from a year ago; analysts expected $664.50 million.

• Lazard Inc's reported EPS for the quarter was 56 cents​.

• The company reported quarterly net income of $60.38 million.

• Lazard Inc shares had fallen by 7.9% this quarter and lost 22.6% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 48.9% in the last three months.​

• In the last 30 days, six analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy," 4 "hold" and 2 "sell" or "strong sell." The average consensus recommendation for the investment management & fund operators peer group is also "hold"

• Wall Street's median 12-month price target for Lazard Inc is $38.00

This summary was machine generated from LSEG data April 25 at 01:31 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)