Lazard (NYSE:LAZ) Issues Quarterly Earnings Results

Posted by Brian Himes on Oct 22nd, 2026

Lazard (NYSE:LAZ – Get Free Report) released its quarterly earnings data on Thursday. The asset manager reported $0.36 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.06), FiscalAI reports. The company had revenue of $805.00 million during the quarter, compared to analysts’ expectations of $844.23 million. Lazard had a net margin of 6.95% and a return on equity of 23.58%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the business earned $0.56 earnings per share.

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

Financial advisory momentum strengthened: Third-quarter revenue rose 11% year over year to a record $465 million, driven primarily by M&A. Lazard cited its best announced league-table position in more than a decade, conflict clearances up over 30%, and a probability-weighted 2027 pipeline more than twice the comparable 2026 pipeline.
Campbell Lutyens acquisition is on track to add scale: Lazard expects the new Lazard CL private-capital advisory platform to generate approximately $500 million of revenue and be earnings accretive in 2027, before potential synergies. Management also sees early cost savings and meaningful cross-referral opportunities with Lazard’s M&A and private-capital businesses.
Asset-management operating trends improved: Management fees rose 18% year over year in the third quarter, while first-nine-month gross inflows reached a record $54 billion. Investment performance also improved, with 70% of client assets outperforming benchmarks over one year and 67% over three years.
Asset management still experienced net outflows: Third-quarter AUM was approximately flat sequentially at $284 billion, reflecting $2.3 billion of net outflows, partly offset by market appreciation. Lazard said it remains on track for positive net flows for the full year, supported by demand for quantitative equity, emerging markets, infrastructure, and ETF offerings.
Potential compensation-policy changes could pressure near-term reported margins: Lazard is considering reducing deferred compensation, which would increase current-year accounting expense and raise the reported compensation ratio by a few percentage points. Management expects the change, if adopted, to improve compensation flexibility, reduce share dilution, and lower amortization expense over the following two to three years.

Lazard Stock Down 3.6%

NYSE:LAZ traded down $1.33 on Thursday, reaching $36.03. The stock had a trading volume of 383,082 shares, compared to its average volume of 1,651,855. The company has a current ratio of 2.84, a quick ratio of 2.84 and a debt-to-equity ratio of 1.87. Lazard has a 12-month low of $34.13 and a 12-month high of $58.75. The company has a 50-day moving average of $39.62 and a 200 day moving average of $43.00. The stock has a market cap of $3.98 billion, a P/E ratio of 17.70, a price-to-earnings-growth ratio of 1.22 and a beta of 1.47.

Lazard Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Monday, November 2nd will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Monday, November 2nd. Lazard’s dividend payout ratio is presently 98.04%.

Insider Transactions at Lazard

In other news, CEO Peter Orszag sold 125,000 shares of the stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $43.52, for a total transaction of $5,440,000.00. Following the transaction, the chief executive officer owned 260,942 shares of the company’s stock, valued at approximately $11,356,195.84. This trade represents a 32.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.95% of the stock is owned by corporate insiders.

Lazard News Roundup

Here are the key news stories impacting Lazard this week:

Positive Sentiment: Lazard declared a quarterly dividend of $0.50 per share, payable November 13 to shareholders of record on November 2. The annualized payout is $2.00 per share, providing an indicated yield of approximately 5.3%. Lazard Declares Quarterly Dividend of $0.50 per Share
Neutral Sentiment: Third-quarter adjusted net revenue was $805 million, while U.S. GAAP net revenue was $814 million. Revenue increased 8.8% year over year, and nine-month adjusted net revenue reached $2.264 billion, indicating business growth despite the quarterly earnings shortfall. Lazard Reports Third Quarter and Nine Month 2026 Results
Negative Sentiment: Lazard reported third-quarter adjusted earnings of $0.36 per share, below consensus estimates ranging from $0.42 to $0.43. Earnings also declined from $0.56 per share in the year-ago quarter, signaling weaker profitability than investors expected. Lazard Misses Q3 Earnings and Revenue Estimates
Negative Sentiment: Adjusted revenue of $805 million also missed analysts’ approximately $844 million forecast. The combination of weaker-than-expected revenue and profit likely explains the negative investor reaction, particularly as Lazard’s shares were already trading well below their 50-day and 200-day moving averages. Lazard Reports Sales Below Analyst Estimates in Q3 2026

Analysts Set New Price Targets

LAZ has been the subject of several analyst reports. Morgan Stanley decreased their target price on Lazard from $44.00 to $41.00 and set an “underweight” rating for the company in a research report on Thursday, October 8th. The Goldman Sachs Group reduced their price target on Lazard from $36.00 to $32.00 and set a “sell” rating on the stock in a research report on Tuesday, October 13th. UBS Group decreased their price target on Lazard from $44.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday, October 7th. Zacks Research upgraded Lazard from a “strong sell” rating to a “hold” rating in a report on Monday, September 28th. Finally, Capital One Financial set a $38.00 price objective on shares of Lazard in a research report on Tuesday, October 6th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Lazard currently has an average rating of “Hold” and an average price target of $46.25.

Check Out Our Latest Stock Report on Lazard

Lazard Company Profile

(Get Free Report)

Lazard, Ltd. is a global financial advisory and asset management firm that serves corporations, financial institutions, governments, sovereign entities and individuals. Its Financial Advisory business provides advice on mergers and acquisitions, strategic matters, capital structure, restructuring, capital raising and other complex financial transactions.

Through its Asset Management business, Lazard offers investment strategies across equities, fixed income, private markets, alternatives and multi-asset portfolios.