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LAZ $41.87

LAZ target price
41.87
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Lazard Ltd
Type
Public
Traded as NYSE: LAZ
Russell 1000 Component
Industry Financial services
Founded 1848; 169 years ago (1848)
New Orleans, Louisiana, U.S.
Founder Alexandre Lazard
Lazare Lazard
Simon Lazard
Headquarters Hamilton, Bermuda
(incorporation)
30 Rockefeller Plaza
New York City, New York, United States
(operational)
Key people
Kenneth M. Jacobs
(Chairman & CEO)
Products Financial services
Investment banking
Investment management
Revenue Increase US$ 2.41 billion (2015)
Net income
Increase US$ 993 million (2015)
AUM Increase US$ 186 billion (2015)
Number of employees
2,610 (2015)
Website www.lazard.com

Lazard is a leading financial advisory and asset management firm that engages in investment banking, asset management, and other financial services primarily with institutional clients. Its principal executive offices are in New York City, Paris and London.

Lazard was founded in 1848 and operates from 42 cities across 27 countries in North America, Europe, Asia, Australia, Central and South America. The firm provides advice on mergers and acquisitions, strategic matters, restructuring and capital structure, capital raising and corporate finance, as well as asset management services to corporations, partnerships, institutions, governments and individuals.

On July 12, 1848, three Jewish French brothers, Alexandre, Lazare, and Simon Lazard, founded Lazard Frères & Co. as a dry goods merchant store in New Orleans, Louisiana. By 1851, Simon and two more brothers, Maurice and Elie, had all moved to San Francisco, California, while Alexandre moved to New York. Lazard Frères began to serve miners engaged in the California Gold Rush, and soon expanded into banking and foreign exchange.

In 1854, Alexandre Lazard moved to Paris, France, where he opened an office to complement the U.S. business. The firm began advising the French government on gold buying. In 1870, the firm continued to expand its international operations, opening an office in London.

In the late 1800s and early 1900s, the firm evolved into three “Houses of Lazard” in the United States, France, and England, separately managed but allied. The Lazard partners advised clients on financial matters and built a cross-border network of high-level relationships in business and government. Noted financial advisor George Blumenthal rose to prominence as the head of the U.S. branch of Lazard Frères and was a partner of Lazard Frères in France.

In the economic boom following World War II, the American operations of Lazard expanded significantly under the leadership of the financier André Meyer. Meyer and Lazard partner Felix Rohatyn have been credited with virtually inventing the modern mergers and acquisitions (M&A) market.

In 1953, Lazard Investors Ltd began an asset management business in London, which is the origin of today’s Lazard Asset Management.

In 1977, as the health of Meyer began to deteriorate, the firm came to be controlled by Michel David-Weill. Under his leadership, the three houses of Lazard were formally united in 2000 as Lazard LLC.

In 2002, David-Weill hired Bruce Wasserstein to be CEO. Lazard became a public company, with nearly two-third of its shares owned by current and former employees in 2005. Wasserstein became its first Chairman and CEO. In connection with the initial public offering (IPO), Lazard spun off its broker-dealer business, Lazard Capital Markets.

Following Wasserstein’s sudden death in 2009, Lazard's Board of Directors elected Kenneth M. Jacobs Chairman and CEO.

Lazard advises clients on a wide range of strategic and financial issues. These may include advising on the potential acquisition of another company, business or certain assets, or on the sale of certain businesses, assets or an entire company. The firm also advises on alternatives to a sale such as recapitalizations, spin-offs, carve-outs and split-offs. For companies in financial distress, Lazard advises on all aspects of restructuring. The firm has advised on many of the largest restructuring assignments in the wake of the global financial crisis that began in mid-2007. Lazard also advises on capital structure and capital raising. Capital structure advice includes reviewing and analyzing structural alternatives and assisting in long-term planning. Capital raising advice includes private and public market financing. Lazard's Sovereign Advisory group advises governments and sovereign entities on policy and financial issues.

Lazard's asset management business provides investment management and financial advisory services to institutional clients, financial intermediaries, private clients, and investment vehicles around the world. The firm manages assets on behalf of institutional (corporations, labor unions, public pension funds, endowments, foundations, insurance companies, and banks; and through sub-advisory relationships, mutual fund sponsors, broker-dealers and registered advisors) and individual clients (principally family offices and high-net-worth individuals).

The bank operates from 42 cities across 27 countries.

Netherlands Amsterdam
China Beijing
Belgium Brussels
Colombia Bogota
France Bordeaux
United States Boston
Argentina Buenos Aires
United States Charlotte
United States Chicago
United Arab Emirates Dubai
Republic of Ireland Dublin

Germany Frankfurt
Germany Hamburg
Hong Kong Hong Kong
United States Houston
Peru Lima
United Kingdom London
United States Los Angeles
France Lyon
Bahrain Manama
Spain Madrid

Australia Melbourne
Italy Milan
United States Minneapolis
Canada Montreal
India Mumbai
France Nantes
United States New York City
Panama Panama City
France Paris
Australia Perth

Saudi Arabia Riyadh
United States San Francisco
Brazil São Paulo
Chile Santiago
South Korea Seoul
Singapore Singapore
Sweden Stockholm
Australia Sydney
Japan Tokyo
Canada Toronto
Switzerland Zürich

Lazard's board of directors as of February 2015.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2022 2022-10-27 Future report Set alerts
Q2 2022 2022-07-28 0.92 0.92
Q1 2022 2022-04-28 1.05 1.05
Q4 2021 2022-02-03 1.92 1.92
Q3 2021 2021-10-29 0.98 0.98
Q2 2021 2021-07-30 1.28 1.28
Q1 2021 2021-04-30 0.87 0.87
Q4 2020 2021-02-05 1.66 1.66
Q3 2020 2020-10-29 0.00 0.00
Q2 2020 2020-07-31 0.67 0.66

Ratings

2016-07-06 Reiterated Rating Nomura Buy $46.00
2016-06-28 Reiterated Rating Credit Suisse Buy
2016-06-28 Reiterated Rating Credit Suisse Group AG Buy
2016-04-22 Lower Price Target Nomura Buy $52.00 to $49.00
2016-04-22 Lower Price Target Nomura Holdings Inc. Buy $52.00 to $49.00
2016-02-05 Lower Price Target Nomura $58.00 to $53.00
2016-02-03 Reiterated Rating Argus Buy $56.00 to $45.00
2016-02-03 Reiterated Rating Susquehanna Buy $53.00 to $50.00
2016-02-03 Lower Price Target Keefe, Bruyette & Woods Outperform $55.00 to $52.00
2016-02-03 Reiterated Rating Oppenheimer Market Perform
2016-02-03 Reiterated Rating Oppenheimer Holdings Inc. Market Perform
2016-02-02 Reiterated Rating Nomura Buy $58.00
2016-01-13 Lower Price Target JMP Securities $60.00 to $58.00
2016-01-12 Downgrade Goldman Sachs Buy to Neutral $56.00 to $48.00
2016-01-12 Downgrade Goldman Sachs Group Inc. Buy to Neutral $56.00 to $48.00
2016-01-11 Reiterated Rating Nomura Buy $59.00 to $58.00
2015-11-18 Upgrade Raymond James Outperform to Strong-Buy $60.00
2015-11-18 Upgrade Raymond James Financial Inc. Outperform to Strong-Buy $60.00
2015-10-25 Reiterated Rating Nomura Buy $58.00
2015-10-23 Boost Price Target Nomura $58.00 to $59.00
2015-10-22 Lower Price Target Argus Buy $64.00 to $56.00
2015-10-12 Reiterated Rating Susquehanna Buy $53.00 to $55.00
2015-10-09 Lower Price Target Raymond James Outperform $61.00 to $60.00
2015-10-08 Reiterated Rating JMP Securities Buy $66.00 to $60.00
2015-10-07 Lower Price Target Keefe, Bruyette & Woods Outperform $65.00 to $60.00
2015-10-07 Upgrade Sandler O'Neill Hold to Buy
2015-10-06 Lower Price Target Nomura Buy $64.00 to $58.00
2015-10-05 Upgrade Susquehanna Neutral to Positive $58.00 to $53.00
2015-09-08 Lower Price Target Credit Suisse Outperform $62.00 to $58.00
2015-07-24 Reiterated Rating Argus Buy $62.00 to $64.00
2015-07-08 Boost Price Target Keefe, Bruyette & Woods Outperform $61.00 to $65.00
2015-06-25 Initiated Coverage Goldman Sachs Conviction-Buy $63.00 to $70.00
2015-04-24 Boost Price Target JMP Securities Market Outperform $62.00 to $64.00
2015-04-13 Downgrade Sandler O'Neill Buy to Hold
2015-03-09 Downgrade Susquehanna Positive to Neutral $61.00 to $56.00
2015-02-17 Set Price Target Credit Suisse Buy $59.00
2015-01-12 Boost Price Target JMP Securities Market Outperform $57.00 to $59.00
2015-01-12 Reiterated Rating Buckingham Research Buy
2014-12-12 Upgrade Keefe, Bruyette & Woods Market Perform to Outperform $57.00 to $61.00
2014-11-19 Boost Price Target Credit Suisse Outperform $57.00 to $60.00
2014-10-13 Upgrade Sandler O'Neill Hold to Buy $55.00
2014-08-21 Upgrade Buckingham Research Neutral to Buy $64.00
2014-08-05 Boost Price Target Argus Buy $55.00 to $60.00
2014-07-28 Reiterated Rating Citigroup Inc. Neutral $54.00 to $56.00
2014-07-25 Reiterated Rating Raymond James Outperform $58.00 to $60.00
2014-07-25 Reiterated Rating JMP Securities Market Outperform $56.00 to $57.00
2014-07-11 Boost Price Target JMP Securities Market Outperform $54.00 to $56.00
2014-07-03 Downgrade Raymond James Strong-Buy to Outperform $58.00
2014-06-23 Reiterated Rating Citigroup Inc. Neutral $50.00 to $54.00
2014-06-03 Initiated Coverage Sanford C. Bernstein Outperform $60.00
2014-05-23 Reiterated Rating Susquehanna Hold $28.00
2014-05-22 Boost Price Target Raymond James $54.00 to $58.00
2014-05-21 Reiterated Rating Keefe, Bruyette & Woods Hold $42.00
2014-05-19 Reiterated Rating Argus Buy $55.00
2014-05-12 Boost Price Target Goldman Sachs $57.00 to $60.00
2014-05-02 Boost Price Target Keefe, Bruyette & Woods $49.00 to $54.00
2014-04-08 Boost Price Target Citigroup Inc. $46.00 to $50.00
2014-04-03 Boost Price Target Goldman Sachs Conviction-Buy $53.00 to $54.00
2014-04-03 Boost Price Target JMP Securities $51.00 to $54.00
2014-03-26 Upgrade Nomura Neutral to Buy $48.00 to $54.00
2014-03-05 Boost Price Target Argus Buy $45.00 to $55.00
2014-03-05 Upgrade Susquehanna Neutral to Positive
2014-02-06 Boost Price Target Susquehanna $45.00 to $49.00
2014-01-15 Upgrade Raymond James Outperform to Strong-Buy $47.00 to $54.00
2014-01-09 Initiated Coverage Nomura Neutral $47.00
2014-01-09 Boost Price Target JMP Securities Outperform $46.00 to $51.00
2013-12-10 Initiated Coverage Credit Suisse Outperform
2013-11-07 Boost Price Target JMP Securities Market Outperform $44.00 to $46.00
2013-10-25 Boost Price Target Keefe, Bruyette & Woods Market Perform $39.00 to $42.00
2013-10-24 Boost Price Target Credit Suisse Outperform $38.00 to $42.00
2013-10-11 Boost Price Target Susquehanna Neutral $30.00 to $31.00
2013-10-09 Boost Price Target Keefe, Bruyette & Woods Market Perform $37.00 to $39.00
2013-10-07 Upgrade Goldman Sachs Neutral to Conviction-Buy $36.76 to $45.00
2013-02-12 Reiterated Argus Buy $40 to $45
2011-09-09 Downgrade Ticonderoga Buy to Neutral
2011-01-03 Reiterated Ticonderoga Buy $42 to $45
2010-10-01 Reiterated Ticonderoga Buy $37 to $42
2010-09-21 Reiterated Oppenheimer Outperform $36 to $37
2009-10-15 Downgrade Oppenheimer Outperform to Perform $45
2009-09-21 Initiated Rochdale Securities Buy
2009-06-12 Initiated Oppenheimer Outperform $41
2009-04-02 Downgrade Credit Suisse Outperform to Neutral $30
2008-12-11 Reiterated Argus Buy $30 to $43
2008-11-25 Reiterated Argus Buy
2016-07-06 Reiterated Rating Nomura Buy $46.00
2016-06-28 Reiterated Rating Credit Suisse Buy
2016-06-28 Reiterated Rating Credit Suisse Group AG Buy
2016-04-22 Lower Price Target Nomura Buy $52.00 to $49.00
2016-04-22 Lower Price Target Nomura Holdings Inc. Buy $52.00 to $49.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
JACOBS KENNETH M Chairman and CEO 1.28%  (1662640) LAZ /
BHUTANI ASHISH Vice Chairman 0.46%  (596863) LAZ /
Stern Alexander F. Chief Operating Officer 0.10%  (125702) LAZ /
Bucaille Matthieu Chief Financial Officer 0.10%  (123310) LAZ /
Hoffman Scott D General Counsel 0.07%  (88734) LAZ /
Russo Evan L Chief Financial Officer 0.05%  (66218) LAZ /
Mignon Laurent 0.03%  (44383) LAZ /
Turner Michael J 0.03%  (43464) LAZ /
Scott Hal S 0.03%  (40376) LAZ /
RAGONE DOMINICK Chief Accounting Officer 0.01%  (9414) LAZ /