Seeking Alpha

Lazard Ltd. (LAZ)

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  • Mon, Mar. 9, 10:39 AM
  • Thu, Feb. 5, 12:12 PM
  • Mar. 26, 2014, 9:51 AM
  • Jan. 2, 2014, 10:47 AM
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  • Jul. 25, 2013, 3:31 PM
    Lazard (LAZ +5.6%) gets past a weak deal market, reporting a 9% increase (earnings) in its financial advisory business in Q2 thanks to getting a piece of 4 out of 10 of the largest M&A deals this year. Compensation expense rose 17%, but as a percentage of revenue fell to 60% from 62.7% a year ago. Evercore (EVR +1%) also overcame the sluggish environment (earnings), taking market share as investment banking revenues rose 18.8% Y/Y. Its compensation ratio dropped to 63.5% from 66.3% a year ago.
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  • Apr. 26, 2013, 9:46 AM
    Lazard (LAZ -0.6%) recovers from a big opening decline caused by a sizable earnings miss. Financial advisory revenue of $168M fell 39% Y/Y, led by M&A off 37%. Asset management revenue of $240M rose 14%. Management fees of $220M rose 10%. "Our first quarter results reflect the uneven pace of the M&A markets balanced by the strength in equity markets," says CEO Ken Jacobs. The cost-cutting plan outlined last year is nearly complete, he reports, with the full beneficial impact to be felt in 2014.  Greenhill (GHL -0.5%). Evercore (EVR +0.3%).
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  • Jan. 12, 2012, 11:57 AM
    Lazard (LAZ -1.4%) shares slip after Citigroup lowers its rating to Neutral and trims the asset manager's 2012 earnings outlook by 11%. But some other alternative asset managers, including Blackstone (BX -1.7%), also are negative, possibly a by-product of the political flare-up over Mitt Romney's time at Bain Capital and whether PE firms are "vulture capitalists."
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  • Jul. 15, 2011, 2:10 PM
    Greenhill (GHL) is down 10.3% on the news that managing director Timothy M. George is leaving for Lazard (LAZ). George is the third managing director Greenhill has lost since early June, after averaging less than one such departure per year since 1996.
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Company Description
Lazard Ltd, together with its subsidiaries, operates as a financial advisory and asset management firm. It provides crafting solutions to the complex financial and strategic challenges around the world, including corporations, governments and individuals.
Sector: Financial
Country: United States