Latest news with #LAZ
Yahoo
3 days ago
- Business
- Yahoo
Was Jim Cramer Right About Lazard, Inc. (LAZ)?
We recently published a list of In this article, we are going to take a look at where Lazard, Inc. (NYSE:LAZ) stands against other stocks that Jim Cramer discusses. A caller asked whether Lazard, Inc. (NYSE:LAZ) could benefit from increased M&A activity in Q3 2024. Cramer responded positively back then, saying: 'I think Lazard's a good buy here. I do believe that things are going to get a little less onerous when it comes to takeovers. It's a really good idea — thank you for bringing it to our attention.' Cramer wasn't totally off, but the gain of 5.83% doesn't exactly scream conviction. Lazard, Inc. (NYSE:LAZ) remains a premier global advisor in M&A and restructuring, leveraging its boutique model to serve clients through volatile economic cycles. A close-up of a graph on a touchscreen, representing the latest investment trends. Cramer remains a fan of the stock as he agreed with a caller when they called the stock cheap in January this year, saying: 'Absolutely. I've gotta tell you, I think Lazard's really inexpensive… I think you're absolutely right.' Overall, LAZ ranks 6th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of LAZ as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than LAZ and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Washington Post
25-04-2025
- Business
- Washington Post
Lazard: Q1 Earnings Snapshot
NEW YORK — NEW YORK — Lazard, Inc. (LAZ) on Friday reported first-quarter earnings of $60.4 million. On a per-share basis, the New York-based company said it had net income of 56 cents. The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share. The company posted revenue of $669.2 million in the period. Its adjusted revenue was $643.2 million, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $616.4 million. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on LAZ at
Yahoo
25-04-2025
- Business
- Yahoo
Lazard: Q1 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — Lazard, Inc. (LAZ) on Friday reported first-quarter earnings of $60.4 million. On a per-share basis, the New York-based company said it had net income of 56 cents. The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share. The company posted revenue of $669.2 million in the period. Its adjusted revenue was $643.2 million, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $616.4 million. _____ This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on LAZ at
Yahoo
18-02-2025
- Automotive
- Yahoo
LAZ Parking and Epic Charging Announce Nationwide Strategic Partnership to Deploy EV Charging Across 50,000 Parking Spaces
HARTFORD, Conn. and BELMONT, Calif., Feb. 18, 2025 /PRNewswire/ -- LAZ Parking, the largest and fastest-growing privately owned parking operator in the United States, and Epic Charging, a leader in electric vehicle (EV) charging software solutions, have entered into a strategic development agreement to accelerate the nationwide deployment of Level 2 EV charging solutions across LAZ's extensive real estate portfolio. This landmark partnership will integrate Epic Charging's state-of-the-art Charging Station Management System (CSMS) into LAZ's national network of parking facilities, with a goal of electrifying 50,000 parking spaces over the next five years. As part of the agreement, Epic Charging has been designated as LAZ's preferred software partner for Level 2 electrification projects, ensuring consistent deployment of best-in-class EV charging solutions across a range of parking environments, including hotels, commercial and mixed-use properties, surface lots, airports, and municipal parking operations. Epic's technology will seamlessly integrate into LAZ's tech-enabled solutions and is designed to optimize EV charging while enhancing parking revenues. This advanced solution enables seamless monitoring, maintenance, payment processing, and advanced data analytics, ensuring the best charging experience for EV drivers while maximizing yield on both parking and charging revenue streams. "The future of parking is electric. Soon, every parking space will need to support EV charging, and our partnership with Epic Charging is a critical step toward making that vision a reality," said Alan Lazowski, Chairman and CEO of LAZ Parking. "Electrifying 50,000 parking spaces is just the beginning—this is the foundation for a much larger transformation that will redefine the role of parking in the mobility ecosystem." Michael Bakunin, CEO of Epic Charging, emphasized the broader vision behind the initiative: "This collaboration marks a major milestone in the transition to widespread EV adoption. By combining LAZ Parking's expansive real estate footprint with Epic's industry-leading software, we are creating a scalable, future-proof solution that will make EV charging more accessible and reliable for drivers across the country." Epic Charging's CSMS provides LAZ with a comprehensive suite of features, including remote monitoring, smart charging schedules, integrated payment processing, and real-time analytics. The system is fully OCPP-compliant and will be integrated with LAZ's existing technology stack, including its e-commerce platform, business intelligence tools, and customer service operations. This partnership represents a significant step forward in the advancement of EV infrastructure across urban centers, commercial hubs, and transportation corridors, supporting the continued adoption of electric vehicles while enhancing the overall value of parking facilities. For more information on this partnership and upcoming deployments, visit or About LAZ ParkingLAZ Parking is the largest, fastest-growing privately owned parking operator in the United States and a pioneer in digital parking technology. Founded in Hartford, CT, LAZ has been providing best-in-class parking management and transportation services since 1981 and operates over 1.6 million parking spaces in over 4,000 locations in 42 states and 536 cities in the U.S. and Canada. LAZ is an industry leader in business intelligence, remote monitoring, eCommerce solutions, and Proximity On-Demand Services or "LAZ PODS". LAZ leverages its international network of parking facilities to offer cutting-edge, tech-enabled solutions that include EV charging, micro warehousing, last-mile logistics, working across the hospitality, commercial, healthcare, airports, transportation, universities, government, retail, events, residential, and shuttle service industries. LAZ is a people first, conscious capitalist company, committed to elevating humanity through business. Additional information can be found at About Epic ChargingEpic Charging is a Silicon Valley-based B2B SaaS company on a mission to revolutionize electric transportation. Its open protocol (OCPP) Charge Point Management System (CPMS) is specifically designed to address the critical issues of uptime, reliability, and profitability. Epic delivers seamless interoperability with major EV charger manufacturers and an intuitive user experience for fleets, businesses, and municipalities. View original content to download multimedia: SOURCE LAZ Parking Sign in to access your portfolio
Yahoo
31-01-2025
- Business
- Yahoo
Lazard Inc (LAZ) Q4 2024 Earnings Call Highlights: Strong Revenue Growth Amid Challenges
Firm-wide Adjusted Net Revenue: $812 million for Q4, up 7% year-over-year; $2.9 billion for the full year, up 18% from 2023. Financial Advisory Adjusted Net Revenue: $508 million for Q4, up 6% year-over-year; $1.7 billion for the full year, up 28% from 2023. Asset Management Adjusted Net Revenue: $287 million for Q4, up 5% year-over-year; $1.1 billion for the full year, up 3% from 2023. Management Fees: $258 million for Q4; $1.1 billion for the full year, up 2% from the prior year. Incentive Fees: $29 million for Q4; $43 million for the full year. Assets Under Management (AUM): $226 billion as of December 31, 2024, down 8% from December 2023. Adjusted Compensation Expense: $533 million for Q4; $1.9 billion for the full year 2024. Compensation Ratio: 65.9% for the full year, improved by 390 basis points from 2023. Adjusted Non-Compensation Expense: $154 million for Q4; $575 million for the full year 2024. Effective Tax Rate: 18.1% for Q4; 24.4% for the full year 2024. Capital Returned to Shareholders: $61 million in Q4; $303 million for the full year 2024. Quarterly Dividend: $0.50 per share declared. Share Repurchases: 1.4 million shares repurchased at an average price of $42.20 during 2024. Warning! GuruFocus has detected 6 Warning Sign with LAZ. Release Date: January 30, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Lazard Inc (NYSE:LAZ) reported strong fourth quarter and full year results for 2024, with firm-wide adjusted net revenue up 18% from 2023. The Financial Advisory segment achieved record revenue in Europe and demonstrated increased productivity, contributing significantly to the overall revenue growth. Asset Management produced consistent results, with growth in incentive fees due to the outperformance of key strategies. Lazard Inc (NYSE:LAZ) entered 2025 with $10 billion in mandates that are won but not yet funded, indicating strong future revenue potential. The company is on track to achieve its Managing Director (MD) growth target, with plans to continue investing in talent and increasing MD productivity. Asset Management's Assets Under Management (AUM) decreased by 8% from December 2023, with net outflows of $10 billion during the fourth quarter. The compensation ratio remains high at 65.9% for 2024, although there is a target to reduce it to 60% by 2025. The effective tax rate increased to 24.4% for the full year 2024, compared to the prior year. The share count increased nearly 10% in 2024, partly due to elevated amortization and less buyback activity. Non-compensation expenses are expected to grow at a mid-single-digit rate in 2025, driven by investments in technology and new buildings. Q: Can you provide more context on the $10 billion of mandates in asset management and how it compares to prior years? A: Peter Orszag, CEO, explained that the $10 billion in mandates is significantly higher than in recent years, indicating strong momentum. Evan Russo, CEO of Asset Management, added that this reflects investments in their platform and increased client interest in areas like Quant Japan and emerging markets. Q: How does Lazard view the M&A outlook in Europe compared to the US? A: Peter Orszag noted that despite a challenging macroeconomic environment in Europe, Lazard achieved record advisory revenue in 2024. He highlighted that European companies are increasingly interested in US M&A, and Lazard's strong presence in both regions positions it well to capitalize on this trend. Q: What are the expectations for Lazard's compensation ratio, and are there any structural changes planned? A: Peter Orszag stated that Lazard aims to achieve a 60% compensation ratio by improving productivity and hiring more productive bankers. He clarified that there are no plans to change the compensation structure, such as increasing deferrals. Q: How is Lazard addressing the increase in fully diluted share count, and what is the outlook for buybacks? A: Mary Betsch, CFO, explained that the increase in share count was due to elevated amortization and share price. Lazard plans to increase buybacks to offset dilution from stock-based compensation, aiming for a more stable share count. Q: What is the impact of interest rates on Lazard's advisory pipeline, and how does it affect M&A activity? A: Peter Orszag mentioned that while lower rates could be beneficial, they are not the primary driver of M&A activity. He emphasized that other factors, such as regulatory environment and strategic opportunities, are more influential in driving M&A discussions. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
