In its upcoming report, Lazard (LAZ) is predicted by Wall Street analysts to post quarterly earnings of $0.29 per share, reflecting a decline of 56.1% compared to the same period last year. Revenues are forecasted to be $616.37 million, representing a year-over-year decrease of 17.4%.
Over the last 30 days, there has been a downward revision of 33% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
That said, let's delve into the average estimates of some Lazard metrics that Wall Street analysts commonly model and monitor.
The collective assessment of analysts points to an estimated 'Adjusted net revenue- Asset Management' of $249.76 million. The estimate indicates a change of -9.5% from the prior-year quarter.
The consensus among analysts is that 'Adjusted net revenue- Financial Advisory' will reach $355.28 million. The estimate points to a change of -20.5% from the year-ago quarter.
It is projected by analysts that the 'Adjusted net revenue- Corporate' will reach $11.33 million. The estimate indicates a year-over-year change of -52.8%.
The combined assessment of analysts suggests that 'Assets under management - Total Fixed Income' will likely reach $43.55 billion. Compared to the present estimate, the company reported $47.22 billion in the same quarter last year.
The average prediction of analysts places 'Assets under management - Total Equity' at $174.14 billion. The estimate is in contrast to the year-ago figure of $195.25 billion.
According to the collective judgment of analysts, 'Assets under management - End of Period' should come in at $227.07 billion. Compared to the present estimate, the company reported $250.43 billion in the same quarter last year.
The consensus estimate for 'Assets under management - End of Period - Other' stands at $9.40 billion. The estimate is in contrast to the year-ago figure of $7.96 billion.
View all Key Company Metrics for Lazard here>>>
Over the past month, Lazard shares have recorded returns of -26.9% versus the Zacks S&P 500 composite's -8.9% change. Based on its Zacks Rank #5 (Strong Sell), LAZ will likely underperform the overall market in the upcoming period. 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 ReportThis article originally published on Zacks Investment Research (zacks.com).
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