The upcoming report from Lazard (LAZ) is expected to reveal quarterly earnings of $0.42 per share, indicating a decline of 19.2% compared to the year-ago period. Analysts forecast revenues of $772.19 million, representing an increase of 0.3% year over year.
The consensus EPS estimate for the quarter has undergone a downward revision of 9% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
With that in mind, let's delve into the average projections of some Lazard metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts' assessment points toward 'Adjusted net revenue- Asset Management' reaching $317.70 million. The estimate indicates a change of +18.3% from the prior-year quarter.
The combined assessment of analysts suggests that 'Adjusted net revenue- Financial Advisory' will likely reach $430.59 million. The estimate indicates a year-over-year change of -12.4%.
It is projected by analysts that the 'Adjusted net revenue- Corporate' will reach $10.00 million. The estimate suggests a change of -0.2% year over year.
View all Key Company Metrics for Lazard here>>>Lazard shares have witnessed a change of +2.8% in the past month, in contrast to the Zacks S&P 500 composite's +0.3% move. With a Zacks Rank #5 (Strong Sell), LAZ is expected underperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Lazard, Inc. (LAZ): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).