Lazard (NYSE:LAZ) Announces Quarterly Earnings Results, Beats Expectations By $0.12 EPS

Lazard (NYSE:LAZ) released its quarterly earnings results on Thursday. The asset manager reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.12, FiscalAI reports. Lazard had a net margin of 8.89% and a return on equity of 35.02%. The business had revenue of $892.00 million for the quarter, compared to the consensus estimate of $876.32 million. During the same period in the previous year, the firm earned $0.78 EPS. The business’s revenue was up 11.0% on a year-over-year basis.

Here are the key takeaways from Lazard’s conference call:

• Firm-wide results showed progress on Lazard 2030 with $3.0 billion revenue in 2025, record Financial Advisory revenue of $1.8 billion, and AUM up 12%, supporting management’s growth thesis.
• Financial Advisory is being scaled through aggressive MD hiring (net additions well above 2024 levels) while productivity rose to $8.9 million per MD and management raised a 2030 target of $12.5 million per MD.
• Asset Management hit an inflection point with record gross inflows, the launch of seven U.S. active ETFs (>$800M AUM), and $13 billion of won-but-not-yet-funded mandates, underpinning guidance for positive net flows in 2026.
• Near-term AM headwinds included Q4 net outflows of $19.7 billion (largely from the closure of one U.S. sub‑advised mandate), a 4% AUM decline versus September 2025, and an ~$0.8 billion FX drag that could pressure quarter-to-quarter metrics.
• Management continues to invest in talent and technology while trimming the compensation ratio to 65.5%; they returned $393 million to shareholders in 2025 and declared a $0.50 quarterly dividend, but non‑comp expenses are expected to rise mid‑to‑high single digits as investments continue.

Lazard Trading Up 2.4%

NYSE:LAZ opened at $53.85 on Friday. The stock has a fifty day moving average price of $51.10 and a two-hundred day moving average price of $52.01. The company has a debt-to-equity ratio of 1.92, a quick ratio of 2.58 and a current ratio of 2.58. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of 21.28 and a beta of 1.38. Lazard has a 1 year low of $31.97 and a 1 year high of $58.07.

Lazard Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Shareholders of record on Monday, February 9th will be given a $0.50 dividend. The ex-dividend date is Monday, February 9th. This represents a $2.00 annualized dividend and a yield of 3.7%. Lazard’s dividend payout ratio is presently 79.05%.

Lazard News Summary

Here are the key news stories impacting Lazard this week:

• Positive Sentiment: Q4 beat on both EPS and revenue: reported EPS $0.80 vs. consensus $0.68 and adjusted net revenue $892M (net revenue $907M), with quarterly revenue up ~11% YoY — key fundamentals that directly support valuation. Lazard Reports Fourth Quarter and Full Year 2025 Results
• Positive Sentiment: Management says dealmaking picked up and asset-management results improved, helping drive the beat and revenue mix improvement — commentary from CEO Peter Orszag gives confidence around sustained advisory activity. Lazard CEO Peter Orszag on Q4 earnings beat
• Positive Sentiment: Full-year highlights: record Financial Advisory adjusted net revenue ($1.8B), record Asset Management inflows and AUM +12% YoY; Financial Advisory metrics (revenue per MD $8.9M, 21 new MDs in 2025) indicate progress toward 2030 targets and potential higher-margin growth. Lazard Reports Fourth Quarter and Full Year 2025 Results
• Positive Sentiment: Board declared a quarterly dividend of $0.50/share (payable Feb 20; ex-div Feb 9), implying a ~3.7% yield — supports total-return investors and can bolster demand for the shares. Lazard Declares Quarterly Dividend of $0.50 per Share
• Positive Sentiment: Corporate leadership update: Tracy Farr appointed CFO effective Feb 1 — a stable succession in finance can reduce execution risk as Lazard scales revenues and margins. Lazard Managing Director Tracy Farr Appointed Chief Financial Officer
• Neutral Sentiment: Earnings call transcript and slide deck are available for detail on guidance, deal pipeline and margin drivers — useful for modeling near-term revenue mix and outlook. Lazard, Inc. (LAZ) Q4 2025 Earnings Call Transcript
• Neutral Sentiment: Market coverage notes shares rising on the beat; follow-up analyst commentary may adjust estimates (avg. sell-side EPS outlook ~4.24 for the year) — monitor revisions. Lazard shares rise as fourth quarter earnings beat estimates

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Bank of America began coverage on Lazard in a research note on Monday. They issued a “buy” rating and a $65.00 price objective for the company. UBS Group started coverage on shares of Lazard in a report on Thursday, December 11th. They set a “neutral” rating and a $54.00 price target for the company. BMO Capital Markets began coverage on Lazard in a research report on Friday, October 3rd. They set a “market perform” rating and a $56.00 price objective for the company. Keefe, Bruyette & Woods dropped their target price on shares of Lazard from $60.00 to $59.00 and set an “outperform” rating on the stock in a research report on Thursday, January 8th. Finally, Morgan Stanley dropped their price target on Lazard from $61.00 to $59.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 6th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Lazard has a consensus rating of “Hold” and a consensus target price of $56.13.

Hedge Funds Weigh In On Lazard

Several hedge funds have recently bought and sold shares of LAZ. IFP Advisors Inc raised its stake in shares of Lazard by 53.5% during the 3rd quarter. IFP Advisors Inc now owns 643 shares of the asset manager’s stock worth $34,000 after buying an additional 224 shares during the last quarter. State of Wyoming purchased a new stake in Lazard in the 2nd quarter valued at about $38,000. Triumph Capital Management purchased a new stake in Lazard in the third quarter valued at approximately $42,000. US Bancorp DE grew its stake in shares of Lazard by 122.1% during the 3rd quarter. US Bancorp DE now owns 1,588 shares of the asset manager’s stock valued at $84,000 after buying an additional 873 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in Lazard by 30.2% during the second quarter. Tower Research Capital LLC TRC now owns 1,943 shares of the asset manager’s stock valued at $93,000 after acquiring an additional 451 shares during the period. 54.80% of the stock is owned by hedge funds and other institutional investors.

Lazard Company Profile

Lazard Ltd. (NYSE: LAZ) is a leading global financial advisory and asset management firm, offering a comprehensive suite of services to corporations, governments and individuals. Founded in 1848, Lazard has built a reputation for providing independent advice and innovative solutions in complex financial transactions. The firm is publicly traded on the New York Stock Exchange under the ticker symbol LAZ and maintains its headquarters in Hamilton, Bermuda.

In its Financial Advisory segment, Lazard assists clients with mergers and acquisitions, restructurings, capital structure optimization and strategic planning.