Analysts on Wall Street project that Lazard (LAZ) will announce quarterly earnings of $0.43 per share in its forthcoming report, representing a decline of 23.2% year over year. Revenues are projected to reach $836.95 million, increasing 15.5% from the same quarter last year.
The consensus EPS estimate for the quarter has undergone a downward revision of 6.8% 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.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
In light of this perspective, let's dive into the average estimates of certain Lazard metrics that are commonly tracked and forecasted by Wall Street analysts.
The average prediction of analysts places 'Adjusted net revenue- Asset Management' at $329.99 million. The estimate suggests a change of +12.2% year over year.
According to the collective judgment of analysts, 'Adjusted net revenue- Financial Advisory' should come in at $514.44 million. The estimate suggests a change of +21.8% year over year.
Analysts forecast 'Adjusted net revenue- Corporate' to reach $11.00 million. The estimate suggests a change of +34.4% year over year.
View all Key Company Metrics for Lazard here>>>Shares of Lazard have experienced a change of +0.2% in the past month compared to the +1% move of the Zacks S&P 500 composite. With a Zacks Rank #5 (Strong Sell), LAZ is expected to underperform the overall market in the near future. 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).